Grand Opening of the “Baku ID” Event!

Baku, Azerbaijan. 3 JULY 2024-Mediamark Digital

The third “Baku ID” innovation festival, held on June 27 at the “Baku Crystal Hall,” was met with great interest. As one of Azerbaijan’s and the region’s main startup innovation events, created under the SABAH.HUB Innovation Center, “Baku ID” brought together startups and investors.

This year’s “Baku ID” event featured over 200 local and international investors, more than 100 local and international startups, 5,000 participants, and over 50 partners. The “Baku ID” event provided an invaluable opportunity for startups to attract the attention of investors. With the support of venture funds such as “Startup Wise Guys,” “Al-Farabi Innovation Hub,” “Caucasus Ventures,” “MOST Ventures,” “Startupbootcamp,” “Idacapital,” “Yıldız Tekno GSYO,” “Aloqa Ventures,” and “,” an investment fund exceeding $1,000,000 was established.

On the first day of the event, the official opening speech was delivered by Rahim Bayramli, the Executive Director of the SABAH.HUB Innovation Center, who spoke about the contribution of the event to the Azerbaijani and regional innovation ecosystem and expressed gratitude to the sponsors and guests. Additionally, in the “Managing Innovations and Transition to a Knowledge-Based Economy” panel, the Minister of Economy Mikayil Jabbarov, the Minister of Science and Education Emin Amrullayev, SOCAR President Rovshan Najaf, and PAŞA Holding Chief of Staff Deyanət Sədullayev participated, thoroughly answering questions relevant to their respective fields.

The main sponsors of the “Baku ID” festival were the Ministry of Science and Education, SOCAR, PAŞA Holding, ABB, and Mappable, while the partners included 4SIM and the Innovation and Digital Development Agency.

Furthermore, during the event, memorandums were signed between the “Al-Farabi Innovation Hub” and the SABAH.HUB Innovation Center and the High Technology Park. Additionally, within the framework of “Baku ID,” a bilateral agreement was signed between the SABAH.HUB Innovation Center and 4SIM to support the development of the local startup ecosystem and cooperation in the context of digital economy development in the country.

It is noteworthy that the “Baku ID” innovation festival has supported the development of dozens of startups and has directly informed thousands of individuals about the innovation ecosystem. Overall, it has helped startups attract more than $4 million in investments.

To closely follow the activities of the “Baku ID” innovation festival and stay updated on regular innovations, you can follow their social media channels (Facebook, Instagram, and LinkedIn).

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