Envoy: US committed to bolstering Azerbaijan's vibrant startup ecosystem

The United States remains steadfast in its support for Azerbaijan's burgeoning startup ecosystem and entrepreneurship programs, US Ambassador Mark Libby affirmed at the opening ceremony of the regional phase of the inaugural Startup World Cup in Baku, Report informs.

The event, organized by ADA University, Technovate-Sabah Angel Investors Club, and Pegasus Ventures, marks a milestone for Azerbaijan's startup community.

"In collaboration with our international partners in Azerbaijan and worldwide, we are dedicated to fostering the growth of the startup and entrepreneurship ecosystem through training sessions and business development programs," Ambassador Libby emphasized. "This year alone, we had the privilege of empowering over 100 women in Azerbaijan's rural areas, equipping them with the skills to craft business plans and secure startup capital."

The ambassador underscored the vital importance of these initiatives in nurturing a diverse economy. "We eagerly anticipate the expansion of Azerbaijan's incubators, accelerators, venture capitalists, and angel investor communities," he added. "We commend Azerbaijan's efforts to enhance its technical, research, development, and legal capabilities, and we look forward to the government implementing further reforms to foster these innovations."