Startups are companies set up to test business models developed around new ideas. Typically they have fewer than fifty employees. Startups are usually made up of developers and designers – people who write code and those who can design a consumer-friendly interface. To build their idea startups work with investors. Investors are drawn to startups because the cost is low and despite higher risk, can offer significantly higher returns if the idea becomes popular. Once funded, startups can grow quickly while maintaining low costs and limited labor...
The project of StartUp Azerbaijan to launch its operation
According to the Organizational Committee of StartUp Azerbaijan, starting from March 19, 2013 the project of SartUp Azerbaijan will establish its operation and registration of National StartUps will be announced open.
The main goals of StartUp Azerbaijan project are improving Investment Environment in ICT sector, bring the best projects concerning Internet and ICT sector into the light, directing innovative ideas to the businesses sector.
Objectives of the submitted Internet projects are setting up favorable Internet Business environment, securing high level social and other relevant service to lure clients., It is also possible to submit the project that originated from the already existed Business ideas, in this case the new project should be based on more effective novel ideas.
The projects on scientific, research and studies are are accepted. These types of projects are not eligible within the frame of contests and competitions of StartUp Azerbaijan Project. Business Projects designed by an individual or a team are eligible.
Registration process of StartUps commences on March 19 and ends in early May. Competition consists of two parts. in the 2nd part of May, semi- finalists will be selected and they are expected to submit their business plan within 15 days. The final winners will be announced on Awards ceremony day at the end of June. Within the framework of StartUp Azerbaijan, experts will be involved in the evaluation process of StartUps during the competition. The panel of experts was composed by StartUp Azerbaijan on the involvement of leading experts from ICT, finance and marketing sector. On the 1st stage semi- finalists will be selected through the evaluation of experts and based on their business plan winners will be announced. Following this the winners are expected to make presentation on their StartUps for Investors. Experts' participation in the evaluation process of startUps belonging to them is not considered.
Successful startUps will be presented to the Investor and foundations by StartUp Azerbaijan team at the end of project implementation.
StartUp Azerbaijan is not merely a competition. Hence, trainings with participation of StartUps, camps and meetings with investors will be organized during the project. Internship opportunities for StartUps under the supervision of local and international experts and team building of StartUps is supported.
Ministry of Communications and Information Technologies of the Republic of Azerbaijan extends its support to StartUps Azerbaijan project. Main sponsor of StartUp Azerbaijan is Bakcel mobile operator. Another sponsor of the projects are Microsoft and İnfi Pro companies.
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