Baku,Azerbaijan. 3 JULY 2024 -Mediamark Digital
On June 27-28, the third “Baku ID” innovation festival took place at the “Baku Crystal Hall”. Organized by the SABAH.HUB Innovation Center, “Baku ID” is one of the major startup innovation events in Azerbaijan and the region, bringing together startups and investors.
This year’s “Baku ID” event hosted over 200 local and foreign investors, more than 100 startups, and thousands of participants. Within the event framework, the winners of an investment fund exceeding $1,000,000, established with the support of venture funds such as “Startup Wise Guys,” “Al-Farabi Innovation Hub,” “Caucasus Ventures,” “MOST Ventures,” “Startupbootcamp,” and “SABAH.fund,” were determined. In total, seven startup teams secured investments worth $1 million: Beep, ALIA, PLATMA, Dosty, Canscreen, Push30, and Tredu.
Various panels were organized as part of the event. One notable panel was the “CleanTech” panel, related to COP29 preparation. Out of the 30 teams that participated, 13 advanced to the finals. These 13 finalist teams gained the opportunity to join a one-month intensive acceleration program. As a result of this program, 10 teams will be selected, each receiving a $100,000 investment opportunity from “Startupbootcamp” and the chance to transition into the SABAH.lab Acceleration Program. The competition featured participation from SABAH.incubation, ABB Innovation, as well as local and foreign “GreenTech” teams.
The award ceremony for the winners was attended by the Minister of Science and Education Emin Amrullayev and the Head of the Turkish Republic’s Presidential Finance Office, Prof. Dr. Göksel Aşan, who personally presented the awards.
The main sponsors of the “Baku ID” innovation festival were the Ministry of Science and Education, SOCAR, PASHA Holding, ABB, and Mappable, with partners including 4SIM and the Innovation and Digital Development Agency. Sponsor and startup booths were also showcased during the event.
Throughout its activities, the “Baku ID” innovation festival has supported the development of dozens of startups and enabled thousands of individuals to gain direct insights into the innovation ecosystem. Overall, it has supported startups in attracting more than $4 million in investments.
To stay closely acquainted with the activities of the “Baku ID” innovation festival and to be regularly updated with the latest news, you can follow its social media channels (Facebook, Instagram, and LinkedIn) and its official website (www.bakuid.com).
