12:01 - 20.08.2025

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 August 20, Fineko/abc.az. For the Azerbaijan Agency for Innovation and Digital Development (IDDA), startups are the foundation of the approach to building an ecosystem. Global experience also confirms that they are a leading force in innovation, said IDDA Chairman Farid Osmanov during the final day of the presentation of an innovation program implemented across the regions, Trendreports.

He noted that startups are capable of attracting a significant share of venture capital worldwide: “For example, in 2024 alone, the total volume of venture investments in the United States reached $209 billion, of which $190 billion went directly to startups.”

The chairman emphasized that in recent years, targeted and systematic steps have been taken in Azerbaijan to strengthen the startup ecosystem: “As an agency that unites the ecosystem under one roof, we have already achieved concrete results through programs implemented in collaboration with local and international partners. From 2022 to 2024, our local startups attracted more than 2.4 million euros in investments from various international investors and organizations. This both reflects confidence in the country’s innovation potential and represents a tangible outcome of our initiatives.”

Osmanov highlighted that the agency has been actively organizing incubation and acceleration programs: “This year, we launched two important acceleration programs. One of them is the 4+1 ClimAccelerator, implemented jointly with Sabancı ARF and Viveka. The program aims to promote climate innovation and create a platform for regional collaboration. The results are impressive: more than 150 applications were received from 14 countries, 56 startups were adapted to the B2B format, and 10 startups were presented in Baku during COP29. At the program’s closing ceremony in Istanbul, the local startup AZIRRIGATION was awarded a grant of 50,000 euros.”

He also spoke about the international SaaS acceleration program conducted in collaboration with the Startup Wise Guys accelerator: “Our goal is to expand access for local startups to global markets and increase their competitiveness. We support the promotion of startups not only within the country but also internationally. As part of the Roadshow project, our startups participated in international events, creating opportunities for networking and establishing contacts with investors.”