​Baku Business Factory helds forum on business initiatives

Baku. 10 October. REPORT.AZ/ A business forum was held today at Baku Business Factory on topic of business initiatives.

The forum was attended by officials, representatives of many local leading companies, businessmen, scientists and foreign experts.

Report informs, speaking at the opening of the forum director of the organization, Professor Dr. Alovsat Muslumov said that for several years, our country holds a series of works to support business initiatives of young people and increase their interest in this area.

According to him the main purpose of the establishment of Baku Business Factory is to provide logistical support to the youth business initiatives and creation of opportunities for the formation of their business skills.

A.Muslumov during his speech noted that the interest of young people to the center is very high and results exceeded expectations.

Up to now 130 appeals were sent to the Co-working center, which is part of BBF and free of charge.

Currently, 26 people work in the center on 13 different projects.A.Muslumov also noted that the Startup Lab began operations in September 2015: "In laboratory intended for more extensive support program we have received 140 project proposals and we expect that the number of appeals will increase further.We'll help young people in turning their projects to business and go out into the world markets".

During the forum, Professor of Bogazici University Dr. Ozer Ertuna delivered a speech on "Successful initiative in fast changing world". He said that supporting the initiative is creation of conditions that will ensure the emergence of initiatives and overcoming obstacles."We live in a new world, and it also creates new needs.Now, after 10-20 years activity areas will be the exact opposite of the current one, and craftsmanship and creativity will be most required which is now a minority".O. Ertuna said that there are more than 10% unemployment in the world, and this figure varies in different countries:"In Turkey, the unemployment rate for university graduates exceeds 25%.We can say that it is a serious crisis.The way to get rid of the crisis is an initiative for new ideas. "- he said.

Delivering a speech on "Initiative and History of Silicon Valley", representing Silicon Valley and Turkish Telecom Argela Dr.Mustafa Ergen spoke about the history of the initiatives. He talked about the role of enterprising people in the history of technology. M.Ergen in his speech disclosed reasons behind the success of Apple, Microsoft and other leading companies and conveyed messages to youth.

It is noteworthy to mention that the main purpose of the forum is to initiate business ideas and create opportunities to share experience of those who have gained success in business on a global scale with young people.

"Baku Business Factory" (BBF) was established by Azerbaijani businessman, founder of group of companies Union Grand Energy PTE Anar Alizadeh. BBF's main goal is to support young people with smart business ideas at the initial phase of the project and create conditions for rapid implementation of these projects and to make them sustainable.