Baku, Azerbaijan, Oct. 17
By Huseyn Veliyev - Trend:
Azerbaijan’s satellite communications operator Azercosmos OJSC, jointly with the Social Innovation Lab, has launched an acceleration program, NewSpace, to support start-up projects in satellite services, the company told Trend.
The amount of funding for projects under the program varies from 20,000 to 100,000 manats. Appeals to participate in the program are accepted until November 15. Details on the acceleration program are available on newspace.az.
Authors of innovative projects, ideas and products that they can develop in the center within four months can take part in the acceleration program.
Following the program, three best projects will be selected, which will have the opportunity to sign contracts with Azercosmos and its partners.
The acceleration program consists of three stages. The first stage, Bootcamp, provides for the participation of 10 teams in a two-day (December 1-2) intensive training in creation of innovative products based on their proposed projects.
Then, at the second stage, an intensive acceleration program starts, which will be held from December 3, 2018 to March 30, 2019.
During the third stage, the Demo Day (April 4, 2019), the participants will present their solutions to the juries.
Upon completion of the program, start-ups will take part in a competition for an opportunity to sign contracts with investors, participate in international exhibitions and conferences and receive initial small investments that will be distributed between the first, second and third places (10,000, 5,000 and 3,000 manats, respectively).
The winner projects implemented in real business will be accepted to the six-month Scale Up program, where they will be able to engage in production and sales according to the signed contracts with Azercosmos OJSC and its partners.
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