State Fund for Development of Information Technologies
- Company typePrivate
- Founded2012
- HeadquartersBaku, Azerbaijan
- Headcount11–50
- GTM typeB2B
- OfferingServices
State Fund for Development of Information Technologies firmographics
Firmographics- Name
- State Fund for Development of Information Technologies
- Legal name
- State Fund for Development of Information Technologies
- Website
- https://ictfund.gov.az
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
State Fund for Development of Information Technologies industry classification
Industry- Product category
- Government Technology Development Fund
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Public Administration (92)
- SIC
- Federal & Federally-Sponsored Credit Agencies (6111)
- akta.pro primary industry
- Digital Development & ICT4D / GovTech Technical Assistance (BPADAEAL)
- akta.pro secondary industries
- National Development Banks & State Development Finance Institutions (DFIs) (BPADACAC), Government Digital Service & eGovernment (Service Delivery, IDs, Portals) (BPAIAAAE)
Keywords
Where State Fund for Development of Information Technologies is headquartered
LocationHeadquarters
- HQ city
- Baku
- HQ country
- Azerbaijan
- HQ region
- Asia
Offices1 record
Markets served
State Fund for Development of Information Technologies business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Others
State Fund for Development of Information Technologies product offering
Product offeringCore offering
The State Fund for Development of Information Technologies (XRİTDX) is an Azerbaijani state entity established to foster entrepreneurship and the development of the information and communications technology (ICT) sector in the Republic of Azerbaijan. The organization provides public funding and support instruments intended to grow the domestic ICT ecosystem. Its public-facing website is currently a placeholder, with no productized services or program details publicly disclosed.
Differentiator
Problem solved
Functional benefit
Companies that use State Fund for Development of Information Technologies
Customer profileIdeal customer profiles1 record
State Fund for Development of Information Technologies technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
State Fund for Development of Information Technologies competitors and assessment
Company assessmentDirect peers
- Astana Hub: Kazakhstan's state-backed international technology park and startup accelerator. Directly comparable as a regional state-funded hub designed to develop ICT entrepreneurship and attract foreign tech companies and venture investment.
- IT Park Uzbekistan: Uzbekistan's state-backed ICT development and acceleration entity, providing tax incentives, residency, and support services to ICT companies. Operates in a directly comparable post-Soviet, government-mandated ICT development role to XRİTDX.
- Belarus Hi-Tech Park: A state-backed technology development zone in Belarus that, like XRİTDX, is a government-created entity charged with fostering ICT entrepreneurship and offering institutional support to local tech ventures. Both are post-Soviet state vehicles for ICT sector development.
- Kazakhstan's National Development Bank (Baiterek Holding) ICT vehicles: Kazakhstan's national development institution with subsidiaries directing patient capital toward domestic innovation, including ICT. Comparable as a state development finance institution focused on supporting Kazakhstan's ICT sector from a post-Soviet neighboring country perspective.
Broad incumbents
- Skolkovo Foundation: A large Russian state-sponsored innovation and technology development center. Comparable as a state-created ICT/innovation development entity in the post-Soviet space, though operating at a much larger scale and broader scope.
- EBRD Venture Capital: The European Bank for Reconstruction and Development actively invests in ICT and tech ventures across emerging Europe and Central Asia, including Azerbaijan. Comparable as a development-finance actor deploying capital into early-stage ICT ecosystems in the same geography.
- IFC (World Bank) Venture Investments: The International Finance Corporation provides venture and growth capital to ICT companies in frontier markets including the Caucasus. Comparable as a multilateral development institution channeling capital toward ICT entrepreneurship in emerging markets.
- UAE Ministry of AI / Dubai Internet City: A large state-backed ICT free zone and innovation ecosystem operator in the UAE. Comparable as a state-created ICT development cluster, though operating at significantly larger scale and in a different geography.
Emerging players
- e-Estonia Briefing Centre / Estonian e-Governance Academy: An Estonian government-supported entity that supports digital governance and ICT capacity building, including advisory work in post-Soviet and emerging economies. Comparable as a state-linked ICT4D and eGovernment technical assistance provider.
Regional players
- Georgian Innovation and Technology Agency (GITA): Georgia's state agency for innovation and technology development, operating a state ICT development mandate in the same Caucasus region as Azerbaijan. Comparable as a neighboring government ICT development vehicle.
Market position
Customer concentration
State Fund for Development of Information Technologies social profiles
Digital presenceState Fund for Development of Information Technologies financial estimates
Financial estimateRevenue estimate
Valuation estimate
State Fund for Development of Information Technologies leadership team
Management profileNumber of profiles
State Fund for Development of Information Technologies funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
State Fund for Development of Information Technologies M&A and investment
M&A and investmentM&A
Investments2 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about State Fund for Development of Information Technologies
What does State Fund for Development of Information Technologies do?
The State Fund for Development of Information Technologies (XRİTDX) is an Azerbaijani state entity established to foster entrepreneurship and the development of the information and communications technology (ICT) sector in the Republic of Azerbaijan. The organization provides public funding and support instruments intended to grow the domestic ICT ecosystem. Its public-facing website is currently a placeholder, with no productized services or program details publicly disclosed.
Is State Fund for Development of Information Technologies a public or private company?
State Fund for Development of Information Technologies is a private company. It is classified as state government owned and is currently operating.
When was State Fund for Development of Information Technologies founded?
State Fund for Development of Information Technologies was founded in 2012. It employs 11 to 50 people.
Where is State Fund for Development of Information Technologies based?
State Fund for Development of Information Technologies is headquartered in Baku, Azerbaijan, in the Asia region.
Who are State Fund for Development of Information Technologies's main competitors?
Direct peers on record are Astana Hub, IT Park Uzbekistan, Belarus Hi-Tech Park and Kazakhstan's National Development Bank (Baiterek Holding) ICT vehicles. Broad incumbents are Skolkovo Foundation, EBRD Venture Capital, IFC (World Bank) Venture Investments and UAE Ministry of AI / Dubai Internet City. e-Estonia Briefing Centre / Estonian e-Governance Academy is listed as an emerging player. Georgian Innovation and Technology Agency (GITA) is listed as a regional player.
Does State Fund for Development of Information Technologies have an API?
No public API is recorded for State Fund for Development of Information Technologies.
What industry is State Fund for Development of Information Technologies in?
State Fund for Development of Information Technologies's product category is Government Technology Development Fund. Its primary akta.pro industry code is BPADAEAL, Digital Development & ICT4D / GovTech Technical Assistance, with a secondary code of BPADACAC, National Development Banks & State Development Finance Institutions (DFIs). Its NAICS code is 525 and its SIC code is 6111.