Azərbaycanda Vençur Kapitalının Formalaşması İsiqamətləri....

In the modern era, achieving sustainable economic development in the regions, ensuring the formation of a sociallyoriented and diversified national economy, and accelerating the growth of innovative entrepreneurship have become key directions of Azerbaijan’s economic policy. Against the backdrop of global economic challenges, maintaining macroeconomic stability, ensuring balanced regional development, promoting innovative entrepreneurship, and creating a competitive business environment have been identified as major priorities. One of the main tools to achieve these goals is the establishment and development of a venture capital market. Venture capital plays a crucial role in financing startups and technology projects characterized by high risk but great innovative potential. The digitalization of the economy, the improvement of information and communication technology (ICT) infrastructure, and the development of human capital in Azerbaijan create a favorable environment for the application of venture capital mechanisms. The article identifies the priority directions for the formation of venture capital in accordance with the economic conditions of Azerbaijan. These include the improvement of the regulatory and legal framework, strengthening publicprivate partnerships, implementing incentive mechanisms for local and foreign investors, and developing a system for the commercialization of innovative projects. The conducted analysis shows that the sustainable formation of venture capital in Azerbaijan requires coordinated cooperation among the state, the private sector, financial institutions, and scientificeducational organizations