BAKU, Azerbaijan, May 26. The first TEKNOFEST International Aviation, Space and Technology Festival is a convenient platform for promoting innovative products of local startups, and exchanging ideas with foreign startups, Trend reports citing Azerbaijan's Small and Medium Business Development Agency (SMBDA).
The TEKNOFEST festival kicked off in Baku on May 26, 2022. The Take Off Baku international startup summit, various competitions, as well as exhibitions are being held within the festival. SMBDA is one of the major partners of the Take Off Baku Startup Summit and exhibitions.
The local startups supported by SMBDA are showcasing their innovative solutions to investors and venture capital funds. Moreover, solutions for agriculture, smart city, smart lighting, drones, smart mailboxes for logistics, 3D printer and software, etc. are being demonstrated at the festival.
The Agency has provided startup certificates and grants to the relevant projects. During the festival, startups will have the opportunity to compete for a total prize of $50,000. They will be awarded answering questions about new technological trends and the agency's activities in accordance with the TEKNOFEST concept.
The goal of the Take Off Baku startup summit is to foster a start-up ecosystem and develop international cooperation through favorable innovative business environment in the region. The meetings with different companies, speeches by authoritative speakers, and other events are scheduled as part of the summit.
The TEKNOFEST festival, being held in Baku with the joint organization of the Turkish Technology Team Foundation (T3 Foundation), the Ministry of Digital Development and Transport of the Republic of Azerbaijan and the Ministry of Industry and Technology of the Republic of Turkey, will last until May 29, 2022.