BAKU, Azerbaijan, April 24
By Sadraddin Aghjayev - Trend:
The projects that are being formed within the Azerbaijan 500 ASAN Startup Program have great opportunities to enter the world markets, program coordinator Aghahuseyn Ahmadov told Trend on April 23.
"Some 50 out of 367 participants are to be admitted to further training within the program and 15-25 teams will be formed," Ahmadov added. "At the next stages, the top ten will be chosen from this number of teams for further participation."
"The Azerbaijan 500 ASAN Startup Program is a pre-incubation program and does not envisage investments," the program coordinator said.
"We will assist participants, in particular, teams, in meetings with investors and other specialists in this sphere," Ahmadov added. "The program itself does not guarantee the process of receiving investments, but only teaches to become an entrepreneur from the very beginning."
"The projects that are being formed in Azerbaijan have great opportunities to enter the world markets," the program coordinator said.
"Of course, there are several factors that need to be taken into account," Ahmadov said. "Firstly, this is funding, as well as understanding the market the team wants to enter. Without understanding the foreign market, the team will lose a lot of money and time."
Ahmadov added that the number of start-up projects in Azerbaijan is relatively low compared to the countries with similar economies.
"There is huge work to be done to create a group of entrepreneurs who will potentially create the projects in the future, and accordingly, the more projects are, the more chances are for the projects to be able to enter the foreign markets," the program coordinator said.
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