Details of acceleration program for women entrepreneurs presented in Baku

Details of acceleration program for women entrepreneurs presented in Baku

BAKU, Azerbaijan, Dec. 13

By Eldar Janashvili - Trend:

Founder of the 100 Business Women of Azerbaijan organization Tatyana Mikayilova told reporters about details of the acceleration program "Scale Up Accelerator", Trend reports from the event.

According to Mikayilova, the program will consist of several modules, including the digital transformation, which the whole economy is now striving for, new knowledge on finances, communications, as well as a personal growth program.

The launch of the program, according to the head of the organization, is scheduled for Jan. 1, 2020.

"Now there are two weeks for registration, then the commission will select candidates - their number has been determined to be 15, but an increase of up to 20 candidates is also possible," Mikayilova said.

The selection criteria are as follows - the candidate must have own business, desire for growth and indicators motivating to increase the business, she added.

"There are no financial restrictions on turnover, because there are many companies with low turnover, but huge growth potential. Therefore, we pay special attention to motivation, a storyof the woman who started the business, the difficulties and trials that she had to go through during the development of her business," Mikayilova said.

Speaking about the goals of the acceleration program, Tatyana Mikayilova noted that when an entrepreneur opens micro, small or medium business, sooner or later the businessperson will face the problem of stagnation, and further development will not occur without development of venture capital investments and attracting foreign investment.

"Concerning female entrepreneurship, here we often encounter the problem of exiting a business and selling it. There was a stereotype that a woman very often treats her business as her child, afraid of losing it. Nevertheless, exit from a business is always the beginning of a new business, a transition to a new phase," Mikayilova said.

Summing up, Tatyana Mikayilova said that women are actively involved in micro, small and medium-sized businesses; therefore, the development of women's entrepreneurship is the development of the entire SME sector of the country, and the entire economy of Azerbaijan.

A presentation of the accelerator platform for women entrepreneurs was held with the support of the Azerbaijani Agency for the Development of Small and Medium Enterprises (SMEs) in Baku on Dec. 13.

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Follow the author on Twitter: @eldarjanashvili

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