TODAY.AZ / Business

Azerbaijani startups win chance to take part in int'l training programs

24 May 2020 [11:12] - TODAY.AZ

By Trend

An online presentation on completion of the pre-acceleration program implemented by the Barama Innovation and Entrepreneurship Center was held on May 20, the Innovation Agency of Azerbaijan told Trend.

“Within the framework of the 12-week program, five startups got the opportunity to take part in international training programs, to develop the project from the idea stage to the prototype, and also to develop their knowledge in the fields of finance, investment, law, IT and other areas. Following the results of a three-stage selection of the competition, five following projects took part in the pre-acceleration program: ??IQ – mentor on career creation, ABC Planet - Dualingo project for preschool children, WinFi - an application that unites owners and users of Wi-Fi, DOGET - a platform that instantly brings together professionals and customers,” Spokesperson for the Innovation Agency Sevinj Muradova said.

Spokesperson also said that all these projects belong to Azerbaijani startups.

“Over 50 mentors (60 percent - foreign and 40 percent - local) provided professional support in all areas necessary for successful development. During the mentoring support program, partnership programs were implemented with the following countries: Jordan, the US, Turkey, India, Pakistan, Russia, Serbia, Bulgaria, Ukraine, Georgia, Germany, the UK, Italy, Spain, as well as with international organizations such as Impact Hub, 500 Startups, Startup Grind, GiX, Delloite. An anonymous survey conducted among the teams showed that 90 percent of the participants are satisfied with the work of mentors. The mentors held 85 hours of one-on-one workshops and sessions,” said the agency.

Pre-acceleration programs were carried out in accordance with international criteria for startup projects, which are aimed at participating in other international programs and attracting investments from the world market, the agency noted.

“The ABC Planet startup project had already been accepted for participating in certification programs at Draper University, located in the US state of California, and Scaleink business development platform. In the future, projects that completed the pre-acceleration program will be able to take advantage of the university’s capabilities and Silicon Valley’s wide network. The developers of ??IQ project have already held initial strategically important negotiations with international universities, including Arizona State University and the University of British Columbia. The process of establishing ties between startups and representatives of organizations such as Bo?aziçi Ventures, Startup Grind and Seedstars is ongoing with the goal of attracting investment and bringing projects to the global level. The Innovation Agency will continue its activities in this direction, supporting projects that have completed the Barama Innovation and Entrepreneurship Center,” added the agency.

Despite the pandemic, pre-acceleration programs were fully implemented thanks to the online meetings.


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