IDDA signs memorandum of understanding with Mastercard

The Innovation and Digital Development Agency (IDDA) and Mastercard have signed a memorandum of understanding on cooperation in the field of cybersecurity.

The partnership предусматривает the implementation of advanced cybersecurity technologies in Azerbaijan, strengthening cyber resilience at organizational and ecosystem levels, supporting startup development and innovation, as well as enhancing professional skills and leadership potential in the cybersecurity sector.

During a meeting with Mastercard executives, Deputy Minister of Digital Development and Transport Rashad Hasanov emphasized the importance of public private partnership, noting that studying and implementing advanced technological practices contributes to the realization of Azerbaijan’s national priorities in digital development and innovation.

Hasanov also stressed that special importance will be attached to cooperation with Mastercard in cybersecurity.

“A key area of our cooperation will be digitalization, innovation, and human capital development in cybersecurity. Leading Mastercard experts will be involved in our joint projects and will exchange experience with their Azerbaijani counterparts,” he said.

Within the framework of cooperation with Mastercard, comprehensive support mechanisms will be implemented to accelerate startup development. These measures will include startup selection and acceleration, ensuring access to financial resources, international expert and investor networks, as well as mentorship and skills development opportunities.

At the same time, broad opportunities will be created for startups to access local and global markets and commercialize their products and services.

The memorandum also envisages the implementation of a regional leadership and cross border cooperation program. The initiative aims to bring together information security executives from various organizations, financial institutions, and companies for experience exchange, discussions on current issues, and cooperation with foreign countries in the relevant field.

The development of sustainable human capital in cybersecurity will also be among the key areas of cooperation. Training programs, education, and mentorship initiatives in cybersecurity governance, risk management, and compliance will be implemented within this framework.

The partnership is also expected to support Azerbaijan’s positioning as a regional innovation and cybersecurity hub, as well as promote resilience, skills development, inter institutional cooperation, and the export potential of products and services across the broader CIS region.

Mastercard Chief Services Officer Craig Vosburg noted that Azerbaijan has significant potential for digital transformation, innovation, and human capital development.

“Azerbaijan is among the countries where digital technologies are developing rapidly. I believe this cooperation will be beneficial for both sides in terms of experience exchange,” he said.

Mastercard operates in more than 200 countries and is a global technology company specializing primarily in payment systems. The company provides solutions for secure and inclusive digital transactions through advanced technologies, cybersecurity solutions, and data driven services.