Baku Business Factory celebrates 2nd anniversary (PHOTO)

Baku Business Factory celebrates 2nd anniversary (PHOTO)

Today, Baku Business Factory (BBF) celebrates the 2nd anniversary of establishment.

The BBF Director Alovsat Muslumov said that the company by supporting the business initiatives of young people, tried to make its contribution to development of the ecosystem during two years through close cooperation with start-ups, freelancers and other enterprises of ecosystem.

Generally, BBF has received about 800 appeals within two years. The projects and freelancers, which have been selected among the appeals, have got support to build and develop their businesses using BBF services.

Currently, nearly 70 persons, including 20 projects benefit from services of the company. Fifteen projects have already been commercialized, one is carrying out works on export of its services and products. Five projects are under preparation. In general, about 30 startups have taken benefits of the company's services so far.

Within two years, various training services on office co-working and office equipment, mentoring and business have been rendered to the projects selected by BBF. Besides these services, other companies of the same sector have also been cooperated with and various projects launched.

Alovsat Muslumov said that as in the first year of establishment, Baku Business Factory in the second year of its operation has attached special importance to support of steps taken by President of Azerbaijan Ilham Aliyev towards diversification of national economy. That’s why Baku Business Factory pays a special attention to diversification of selected business projects. As a result, 20 projects covering all four major economic sectors, namely manufacturing, services, trade and agriculture as well as 14 different types of business activities now benefit from BBF services.

In second year of its activity, Baku Business Factory took serious steps to gain access for start-ups to international market. The BBF founder Anar Alizade touched upon the topic in his personal blog. According to him, development of international relations aimed at finding support for access of start-ups of the center to world market, and holding international exchange of experience is one of BBF’s priorities. Memorandums of understanding with two international companies have been signed, for this purpose were held preliminary meetings aimed at cooperation with more than 10 foreign missions and companies.

BBF Director noted that if to have a look on separately taken projects, one can see that there are many start-ups in the center that can be regarded as quite successful.

Among supported projects, MrBee produces high quality honey in the country and handles its sale online, at the same time carrying out honey exports. Keepface renders influencer marketing services on social networks by combining celebrities and advertisers on its web platform. Obanatur offers cost-effective method for delivery of healthy food all over the country. Banco.az is a well-known banking portal in the country.

Qyizmindup’s perfect test and recruitment platform have already found customers in various countries of the world. Alkredit.az is an indispensable resource for loan seekers. BrandCream team has already proved itself in the field of design. A solution offered by Eventwex for issue and sale of tickets is competitive with leading companies in this field. Invex Team together with its engineers paves the way for the future. Also each of other startups accommodated in the center alike managed to advance their businesses as a result of close cooperation with BBF in a year.

Notably, Baku Business Factory was established by Azerbaijani businessman, founder of group of companies Union Grand Energy PTE, Anar Alizade. The main purpose of Baku Business Factory is to support young people with promising business ideas with the potential of positive impact on social and economic life of the country at the initial phase of the project and create conditions for rapid implementation of these projects and to make them sustainable.

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