BP creating new opportunities for development of Azerbaijani startups

BP Azerbaijan is sponsoring a new project in support of the development of the country’s startup sector, Report informs referring to a press release by BP Azerbaijan.

The project, which will be implemented in collaboration with the Innovation Agency of Azerbaijan, aims to develop a strong national startup capacity capable of integrating into the European business ecosystem.

The project will be based on structured programs, including educational and capacity-building trainings, as well as support and consultancy activities provided by collaborative efforts of international and local public and private partners using their expertise, network, and resources. These programs will be combined with a wide range of mentoring and coaching activities designed to introduce the European innovation ecosystem focusing on Hungary (Central Europe), Germany, and the United Kingdom (Western Europe) to the participants in the project.

“One of the main aims of the project is to support capacity building for the Innovation Agency of Azerbaijan through cooperation enhancement with EU-based and regional innovation ecosystems. We expect the project will have a strong and sustainable impact on the overall startup capacity of the country, providing access to the international innovation knowledge and expertise,” said Bakhtiyar Aslanbayli, BP Vice President for the Caspian region, Communications, and Advocacy.

The focal point of the project is its capacity-building component, “Discover Europe” - a two-module training program. The first module is for young entrepreneurs who have a start-up business or are company managers or owners and want to open up to the European market. This module will focus on business building and identifying potential European partners. The second module is for talented university students who have the ambition to set up a start-up business but lack entrepreneurial experience.

At the conclusion, four successful graduates from each training module – eight in total, will have an opportunity to travel to Europe to be introduced to international innovation hubs.

The value of this one-year project is 272,000 manats, and it will be implemented by the local company Turan Trade.