Baku Higher Oil School and the Agency for Small and Medium Enterprises (SME) Development signed a Memorandum of Understanding (MOU). The signing ceremony brought together the senior management of Baku Higher Oil School (BHOS) and the Agency as well as the academic staff and students of the Higher School.
In his welcoming speech, Rector of BHOS Elmar Gasimov noted that the newly endorsed MOU serves as another testimony of cooperation between the higher education institution and private sector, which will offer opportunities for the Agency’s support for innovative ideas generated by BHOS academic staff and students.
The Chairman of the Executive Board of the Agency for SME Development Orkhan Mamedov expressed his excitement at signing the MOU between the Agency and BHOS. He noted that he reviewed the start-up projects developed by BHOS students and shared the prospects of scaling up their entrepreneurship skills and SME development in the future as well as organising Master Classes by the Agency’s qualified specialists.
Along with facilitating multi-vector cooperation, the MOU will help students formulate new business ideas, provide support to innovative initiatives, increase the inventors productivity and, at the same time, will contribute to the Innovations & Research Centre, which is under BHOS, in conducting studies and generating statistics that is essential for entrepreneurship development, thereby strengthening cooperation between BHOS and the Agency and boosting implementation of joint projects.
It should be mentioned that BHOS strengthens its partnerships with the private sector to scale up support for students internship opportunities, start-ups, innovations, invention and other similar initiatives. The BHOS partners are continuously expanding and encompass a broad range of expertise of both transnational companies operating in our country and relevant national institutions.