Azerbaijan Startup Ecosystem Rankings on rise

(MENAFN) Azerbaijan's status in the Startup Ecosystem Rankings for this year witnessed a boost, snatching the 67th spot.

Startup ecosystems map and research center StartupBlink confirmed that Baku was placed the 302nd to increase 55 ranks.

According to StartupBlink, "Social Innovation Lab (Sil.), an entrepreneurship center, is aiming to build the first unicorn in Azerbaijan by 2025, so we will make sure to check on that goal in our 2025 report."

StartupBlink noted "another initiative, I2B- From Idea to Business, encourages the expansion of startups. One of the biggest mentions for the Azerbaijani startup ecosystem is a cleantech startup,CO2 Catalyser, that was in the Top 15 ClimateLaunchpad Global Grand Final 2017."

It added "as for our recommendations, the country's main focus should be to make Baku into a more powerful regional hub (ranked at least in the top 200), and at the same time bring more local ecosystems into the game."



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