Baku. 3 May. REPORT.AZ/ Today, Baku Business Factory (BBF) celebrates the 3rd anniversary of establishment.
Report informs, over the past three years, the organization has contributed to the development of the ecosystem within the framework of close cooperation with startups, freelancers and other organizations operating in the ecosystem.
Currently 2 freelancers and 19 projects are functioning in the BBF. They include alternative energy, marketing, business analytics, culture, design and development of national clothing and accessories in modern fashion, IT technology, crypto-currency, finance, design and global entrepreneurship. Also, products and services of large entrepreneurs providing B2B services and other projects are being prepared for local, foreign markets within a portal. BBF projects include projects with German businessmen seeking investment and cooperation.
There are projects within BBF that receive investment and cooperation proposal from German businessman. Baku Business Factory continued expanding its international cooperation in the past year. Thus, a memorandum of cooperation was signed between BBF and the Georgian Innovation and Technology Agency (GITA). According to the agreement, the parties will expand cooperation in the non-oil sector, in particular in ICT, science, engineering and agriculture. Also, BBF and GITA have agreed to exchange experiences in attracting Angel Investors and Venture Capitalists.
Various training services on office co-working and office equipment, mentoring and business have been rendered to the projects which selected by BBF. Besides these services, other companies of the same sector have also been cooperated with and various projects launched.
One of the key issues that BBF focuses on is to contribute to the diversification of the country's economy.
The main purpose of Baku Business Factory is to support young people with promising business ideas with the potential of positive impact on social and economic life of the country at the initial phase of the project and create conditions for rapid implementation of these projects and to make them sustainable.