Source: venturebeat.com - Saturday, February 28, 2015
GUEST: Gaming execs: Join 180 select leaders from King, Glu, Rovio, Unity, Facebook, and more to plan your path to global domination in 2015. GamesBeat Summit is invite-only -- apply here . Ticket prices increase on March 6 Pacific! When Azerbaijan began pumping millions of barrels of crude oil from its Caspian Sea fields through the Baku-Tbilisi-Ceyhan pipeline in 2006, the country suddenly became flush with cash. The Central Asian state, which had struggled to develop after gaining independence from the USSR in 1991, now had billions of dollars pouring in. Burberry, Bentley, Cartier, and Louis Vuitton quickly opened stores in the mansions built by Azerbaijan’s 19th century oil barons on Baku’s Neftchilar Avenue and Aziz Aliyev Street. While Azerbaijan is projected to earn $200 billion from oil and gas by 2024, the Azeri government recognized that projected oil and natural gas reserves would decline substantially by 2050. Facing that harsh reality, the Azeri government set upon a plan to create a tech sector in Azerbaijan so the country’s economy could continue to grow after Azerbaijan’s oil wealth diminishes. Over the past decade, the Azeri government has shown a willingness to throw billions of dollars at the goal of turning Azerbaijan into a tech hub. While much of that money has been wasted due to corruption and bad decisions due to Azerbaijan’s lack of experience in tech, Azerbaijan is starting to develop the foundation for
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GUEST: Gaming execs: Join 180 select leaders from King, Glu, Rovio, Unity, Facebook, and more to plan your path to global domination in 2015. GamesBeat Summit is invite-only -- apply here . Ticket prices increase on March 6 Pacific! When Azerbaijan began pumping millions of barrels of crude oil from its Caspian Sea fields through the Baku-Tbilisi-Ceyhan pipeline in 2006, the country suddenly became flush with cash. The Central Asian state, which had struggled to develop after gaining independence from the USSR in 1991, now had billions of dollars pouring in. Burberry, Bentley, Cartier, and Louis Vuitton quickly opened stores in the mansions built by Azerbaijan’s 19th century oil barons on Baku’s Neftchilar Avenue and Aziz Aliyev Street. While Azerbaijan is projected to earn $200 billion from oil and gas by 2024, the Azeri government recognized that projected oil and natural gas reserves would decline substantially by 2050. Facing that harsh reality, the Azeri government set upon a plan to create a tech sector in Azerbaijan so the country’s economy could continue to grow after Azerbaijan’s oil wealth diminishes. Over the past decade, the Azeri government has shown a willingness to throw billions of dollars at the goal of turning Azerbaijan into a tech hub. While much of that money has been wasted due to corruption and bad decisions due to Azerbaijan’s lack of experience in tech, Azerbaijan is starting to develop the foundation forfrom Top News on RSS Feeds http://ift.tt/1E2avqR
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