Azerbaijan to create three more business incubators

Economy Materials 23 September 2014 14:58 (UTC +04:00)

Baku, Azerbaijan, Sept. 23

By Azad Hasanli - Trend:

Azerbaijan is planning to create at least three more business incubators, Director of the Baku Business Training Center of Azerbaijani Economy and Industry Ministry Akif Farrukhov told Trend.

The business incubators are organizations dealing with boosting the start-ups companies' growth.

Farrukhov said the business incubators are projected to be created in the Aran Economic District, Balakhani Industrial Park, Sumgait Chemical Industrial Park and others.

He said the first business incubator was created as a pilot project in the Guba-Khachmaz Economic District. Fifteen rooms with a total area of about 500 square meters and equipped with modern office hardware, were allocated at the local regional development center in the district.

"The next is the creation of a business incubator in Aran Economic District. After the opening of the Aran Regional Development Center, a business incubator will be created there as well," he said.

The first business incubator in the Guba-Khachmaz Economic District was opened Sept. 10, 2014.

"The business incubator is planning to hold courses over three months in 12 various areas, which completely cover the planning, organization and business," Farrukhov said.

The courses include such areas as the basics, planning and organization of business, marketing, management, logistics, business negotiations, and others.

Farrukhov said each course will last one week.

"The courses will be conducted by our experts who have been awarded with international certificates; we are also inviting international experts for participation," he added.

Furthermore, consulting services will be organized for the business incubators' participants over the next eight months.

"The representatives of relevant government agencies and the private sector will consult them," Farrukhov said.

He added that in the future the business incubator members will undergo training at business incubators in other countries.

"We plan to organize training in Turkey, Germany, where the business incubator members will share their experience and build business relations with entrepreneurs of these countries," he added.