Baku ID platform brings Azerbaijani startups together with int'l investors

More than 50 international and regional venture funds are already represented at the Baku ID event, Rahim Bayramli, CEO of SABAH.HUB, said in his remarks to the media, Report informs.

According to Bayramli, this is the fifth consecutive time the event has been organized: "The main goal of the event is to create a unified platform for startups in Azerbaijan and the region, helping them present themselves before international investors and attract financing."

He emphasized that this year's event is the largest in scale: "For the first time, more than 50 international and regional venture funds are represented. In total, 60 startups are presenting to them – 45 from foreign countries and 15 from local enterprises."

The CEO added that this year's Baku ID is significant as it marks the launch of the first phase of the SABAH.HUB project:

"SABAH.HUB is a large‑scale project implemented in the format of public‑private partnership with the Ministry of Science and Education. The aim of the project is to unite the main participants of the startup ecosystem in Azerbaijan and the region – higher education institutions, research institutes, startups, investment and technology companies, as well as government bodies. In this way, effective cooperation will be established among the parties, supporting the development of the knowledge economy in the region."