Azerbaijan is developing the startup ecosystem with the support of leading organizations in the field

2023-05-19 17:55:00

Azerbaijan is developing the startup ecosystem with the support of leading organizations in the field.

Day.Az Vusal Gasimli, executive director of the Economic Reforms Analysis and Communication Center, said this on Friday at the Graduation Day of the “StartUp School” project of the “Enterprise Azerbaijan” portal.

According to him, about 300,000 projects are created every year in the world, and only 10 percent of them are successful.

“A platform for interaction between startups and investors should be created, so the project needs to be financed. Our “StartUp School” project acts as such a platform, and we are sure that our startups will succeed in realizing their ideas,” he said.

V. Gasimli also noted that when you look at the startup map, you can see that the USA, China, Great Britain, Germany and Israel have leading positions.

“The development of the startup ecosystem in Azerbaijan is carried out with the support of experts from these countries. Our cooperation with the University of Nevada is an example of this. It is very important for us to develop cooperation with leading universities and think tanks,” he said.

V. Gasimli said that the economy of Azerbaijan is quite stable and the country does not need foreign financing.

“Currently, we need to attract knowledge and experience to the country, especially in the sectors of startup ecosystems, medicine, education and other important fields. Of course, we have already established such cooperation and we aim to strengthen it,” he added.