Innovative initiatives of young people give impetus to the creation of new startups
On June 2, 2023, with the support of the Youth Fund of the Republic of Azerbaijan and PASHA Bank, the project "Supporting innovative initiatives of young people" implemented by the public association Junior Achievement - JA Azerbaijan and the Azerbaijani Students and Alumni Platform (ASAP) The closing ceremony was held at the Innoland Incubation and Acceleration Center.
Deputy Minister of Youth and Sports of the Republic of Azerbaijan Indira Hajiyeva, Deputy Executive Director of the Youth Fund of the Republic of Azerbaijan Gadir Khalilov and Executive Director of ASAP Rafael Hajibeyli spoke at the event. It was stated that favorable conditions have been created for the development of innovations and their application in various fields in our country. Talented startups operating in Azerbaijan and being able to fully realize their knowledge and skills in the country will have a positive impact on the development of our economy and serve to strengthen our country. The main goal of this project is to support the ideas of young people in the direction of solving social and environmental problems, to form their professional skills and to develop an entrepreneurial mindset among young people. Thus, this project contributed to the active participation of young people in the development of the startup ecosystem in Azerbaijan. Young people studying abroad have formed their startups through this project. In Bunula, a new opportunity arose for the practical application of the experience gained abroad.
At the event moderated by the executive director of JA Azerbaijan organization Sevinj Mammadova, it was noted that 30 young people in 6 teams initially participated in a three-day intensive "boot-camp" called "Design an idea". Then, with the support of various mentors, they worked on their projects for two months.
After the project presentation ceremony, 3 winning teams were selected by the jury. Among them, the startup "Izzi Pay" won the first place, the startup "Smart Drop" won the second place, and the startup "Wise Connect" won the third place. The winning teams were awarded a cash prize for the preliminary preparation of their projects, and at the same time, the teams had the opportunity to participate in the acceleration program at Sabah.Lab.
It should be noted that the project "Supporting innovative initiatives of young people" with the participation of young people aged 18-29 was implemented in three stages.
