BAKU, Azerbaijan, April 11. The EnterpriseAzerbaijan.com state portal (https://enterpriseazerbaijan.gov.az) of the Center for Analysis of Economic Reforms and Communications is working to bring national startups to international markets, the portal’s head Matanat Musayeva told Trend.
According to Musayeva, for international recognition of the local business project, it should be more aimed at solving global problems.
‘Think globally, act locally’ is one of the main principles of our startups for reaching the international level, she said.
“Each startup must have a professional approach to market research, correctly identify the client base and pay special attention to the uniqueness of the product they create, as well as marketing issues,” the portal’s head noted.
Besides, according to her, it’s very important to distinguish the concept of ‘Startup’ from the concept of ‘Small Business’.
“The concept of a small business is essentially a small form or replica of a traditional business. In a startup, this approach manifests itself in the application of an innovative and different methodology. The main issue here is to turn gaps in the market into a source of profit,” Musayeva explained.
A startup is an ever-growing process that is fundamentally different from a small business in three main characteristics: dynamic, real and accessible, she added.
The portal’s head further said that startups should adapt flexibly to market requirements, be competitive in the market, and be open to all kinds of innovation and change.
"Services and products offered by startups must be relevant and accessible. To do this, market research should be regularly conducted, competitors should be correctly assessed and new brands should be creatively introduced. At the same time, services and products offered by startups must be accessible and not based on myths that are impossible to be realized,” Musayeva said.
For modern startups, especially startups in the field of technology, the era of dependence on local markets and development only in the conditions of the local market is over, she noted.
“According to statistics, more than 80 percent of technology startups become participants in the international market from the moment they are founded. Therefore, serious work needs to be done so that national startups come out and were introduced to the international market, which the EnterpriseAzerbaijan portal provides to young startups," she concluded.
The EnterpriseAzerbaijan portal, operated by the Center for Analysis of Economic Reforms and Communication, was created on September 19, 2018, on the basis of the order of the President of the Republic of Azerbaijan Ilham Aliyev "On additional measures to support competitive domestic production in the non-oil sector".
The purpose of the EnterpriseAzerbaijan.com portal is to raise the attractiveness of the country’s investment and increase access to alternative funding sources for the development of the economy.