(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 1. As many as
200 startup projects within the framework of the Startup School
project have been registered by the Enterprise Azerbaijan state
portal, Matanat Musayeva, head of the Enterprise Azerbaijan portal
of the Center for Analysis of Economic Reforms and Communications
told trend .
According to Musayeva, there were around 50 registered
projects in February alone.
She noted that Enterprise Azerbaijan registered 200
startup projects within the framework of the Startup School project
from February through March. As many as 33 out of 200 projects have
reached the finals. The finalist projects will be developed with
the support of professionals from the US, Türkiye, Israel and other
leading countries along with Azerbaijani experts.
"We expect that the projects of startups that have
passed the finals will be implemented from an idea into a business,
brought into line with international standards and presented to
investors. Our Enterprise Azerbaijan portal will provide startups
with all the necessary support in entering foreign markets.
Moreover, our main goal is to present the project to potential
investors for its financing and access to global markets," the head
of the portal said.
Musayeva noted that most of the projects registered at
Startup School are related to the sectors of education, health,
social sector and other areas.
According to her, about 67.4 percent of registered
projects belong to young people aged 15-25 years.
"Moreover, among the participants there are three
people over 50 and two people under the age of 15. Registered
project participants will be trained for 1 month by mentors from
Azerbaijan, US, Türkiye and Israel. We are pleased with the
activity seen from the first day of registration. The number of
accepted applications proved once again that acquiring knowledge
about the startup ecosystem is of great interest to young people.
At the same time, it is gratifying that there are applications from
other countries," the head of the portal said.
She noted that among the projects selected by experts
in 12 nominations, there are projects from Türkiye (7 projects),
US, Germany and Ireland. Of these, 36 percent were projects from
females. Six projects were selected in the field of technology,
while four projects in the fields of education, social, financial
and other areas.
The head of the portal also said that Enterprise
Azerbaijan is working to bring national startups to international
markets.
According to Musayeva, for international recognition
of the local business project, it should be more aimed at solving
global problems.
As she noted, 'think globally, act locally' is one of
the main principles of Azerbaijani startups for reaching the
international level.
"Each startup must have a professional approach to
market research, correctly identify the client base and pay special
attention to the uniqueness of the product they create, as well as
marketing issues," Musayeva said.
Besides, according to her, it is very important to
distinguish the concept of 'Startup' from the concept of 'Small
Business'.
“The concept of a small business is essentially a
small form or replica of a traditional business. In a startup, this
approach manifests itself in the application of an innovative and
different methodology. The main issue here is to turn gaps in the
market into a source of profit,” Musayeva explained.
According to her, a startup is an ever-growing process
that is fundamentally different from a small business in three main
characteristics: dynamic, real and accessible. Startups should
adapt flexibly to market requirements, be competitive in the
market, and be open to all kinds of innovation and change.
"Services and products offered by startups must be
relevant and accessible. To do this, market research should be
regularly conducted, competitors should be correctly assessed and
new brands should be creatively introduced. At the same time,
services and products offered by startups must be accessible and
not based on myths that are impossible to be realized,” Musayeva
said.
As she noted, for modern startups, especially startups
in the field of technology, the era of dependence on local markets
and development only in the conditions of the local market is
over.
“According to statistics, more than 80 percent of
technology startups become participants in the international market
from the moment they are founded. Therefore, serious work needs to
be done so that national startups come out and are introduced to
the international market, which the Enterprise Azerbaijan portal
provides to young startups," she concluded.
Furthermore, she added that it is necessary to conduct
a proper assessment of both domestic and foreign markets and its
audience in order to achieve the goal of entering global markets,
as well as conduct appropriate research.
Additionally, Musayeva said that it is essential to
consider a competition plan because the technology sector is
rapidly developing and is one of the most competitive ones where
constant improvement and innovation are required.
Musayeva also added that Azerbaijan has great
prospects for the development of the digital and startup ecosystem.
According to her, it is essential to support Azerbaijani startups
in market analysis in order to achieve high performance, as well as
project ideas.
"It is also important to pay close attention to
protection of the rights of investors and entrepreneurs, as well as
ventures, support and financing of ventures from the state. I also
consider that the process needs to be simplified for entrepreneurs
and scientific researchers to join global markets," she said.
She pointed out that the sectors of education,
medicine, economics, ecology and the social sector have great
potential for development.
"According to statistics, projects in the fields of
education, tourism and the social sector prevail in Azerbaijan.
Nevertheless, recent trends also show an increase in the number of
projects in the fields of technology, in particular financial
technologies," Musayeva said.
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