The Fund was initially established on June 26, 1997, under the name "Entrepreneurship Support Fund."

In 2002, as a result of structural changes within the Ministry, a new management and financing mechanism was introduced.

In 2009, a new Charter and procedural regulations were approved.

In 2018, based on the Entrepreneurship Support Fund, the “Nakhchivan Autonomous Republic Entrepreneurship Development Fund,” a public legal entity under the Nakhchivan Autonomous Republic Ministry of Economy, was established.

In 2024, as part of the integration into the Entrepreneurship Development Fund of the Republic of Azerbaijan, the Fund’s Supervisory Board was established, its structure was formed, and its Charter and regulations were approved.

The main areas of activity of the Fund include:

Financing the investment projects of entrepreneurial entities in the priority areas of the socio-economic development of the Nakhchivan Autonomous Republic through concessional loans;

Participating in the development, implementation, and financing of programs (including state programs) aimed at supporting entrepreneurship development;

Conducting relevant analyses and research to study advanced international experience in investment projects based on modern technologies;

Exploring entrepreneurs’ access to new markets, sharing acquired international experience with them, conducting awareness-raising activities, and providing advisory services.