BAKU, Azerbaijan, September 19. The regional round of the Startup World Cup, organized by the Technovate-Sabah Angel Investors Club and Pegasus Ventures, is taking place at ADA University for the first time in Azerbaijan, Trend reports.
The event involves high-ranking state officials, company directors, up to 100 investors, and more than 50 startup teams.
The founder of Technovate Investments and the Angel Investors Club, Farid Ismayilzada, highlighted in his opening speech that hosting this event in Azerbaijan will play a crucial role in developing the country's startup ecosystem.
The executive director of the Technovate-Sabah Angel Investors Club, Alya Abbaszada, shared insights about the club's achievements over the past year and its future goals with the attendees.
The Vice-Rector of ADA University, Fariz Ismailzade, also spoke about the role of universities in supporting startups in the country.
The ambassador of the Startup World Cup, Federico Altepost, praised Azerbaijan’s inaugural participation in this global competition and expressed satisfaction that the final stage in the United States will mark the first entry of an Azerbaijani startup.
The US Ambassador to Azerbaijan Mark Libby, who attended the event, highlighted that this initiative has greatly enhanced the presence of globally-minded startups in Azerbaijan and offered local entrepreneurs valuable training informed by international best practices.
The Chairperson of the Agency for Innovation and Digital Development, Inara Veliyeva, addressed key points regarding recent steps taken in the fields of startups, investments, and innovations, highlighting achievements at national, regional, and global levels.
She emphasized that events like this further accelerate ongoing efforts.
Among the speakers were the Deputy Minister of Economy Anar Akhundov, Deputy Minister of Science and Education Hasan Hasanli, Deputy Minister of Labor and Social Protection Anar Aliyev, and Deputy Chairman of the State Agency for Public Service and Social Innovations under the President of Azerbaijan Jeyhun Salmanov.
They all stressed the importance of this event for not only the development of startups and investments but also for other sectors in the country.
Following the speeches, 5 startups selected from nearly 100 registered participants presented their business ideas to the audience and were evaluated by a jury of 7 members,
including notable local and international investors and experts. The jury announced a winning startup, which will represent Azerbaijan at the final stage in the U.S.
The event attracted over five hundred guests, including government officials, angel investors, startup teams, company directors, students, and other attendees.
Partners of the event included the Agency for Innovation and Digital Development, Sabahhub, ADA University, the Next Step Innovation Center, and various sponsors such as AZERCELL, ABB Bank, PASHA Holding, Visa, GoldenPay, PASHA Hayat, Bestcomp Group, PASHA Travel, and Holberton School Azerbaijan, all of whom played a crucial role in making this innovative event a success.
To note, the Startup World Cup is recognized as one of the most prestigious startup competitions worldwide, gathering winners from regional rounds held in various parts of the world to compete for a one million dollar prize in San Francisco, USA.
The aim of the competition is to identify innovative entrepreneurs, connect them with global investors, and provide them with opportunities to grow their businesses internationally.
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The regional stage of the Startup World Cup, organized by Technovate-Sabah Angel Investors Club and Pegasus Ventures, is being held at ADA University for the first time in Azerbaijan, Trend reports.
The event is involving high-ranking state officials, company directors, up to 100 investors, and more than 50 startup teams.
