As I underlined in my previous article, to achieve development of national startups, it’s important to provide them with access to international market. For this, that’s to say, in order to create opportunities for startups to enter an international market, ‘Baku Business Factory’ (BBF) decided to expand its relations with international partners.
For this purpose, during last two months BBF has hosted meetings with number of international organizations, influential companies and embassies and discussed plans of further cooperation. The list of hosted organizations and representative offices includes United Nations Development Program (UNDP), TransTech LLP, Embassies of United Kingdom, Germany, Switzerland and Greece and etc. As expected, all organizations and diplomatic missions hosted by the BBF are very interested in collaboration with the Baku Business Factory, as well in cooperation of other incubator centers with companies in their countries through dealing BBF. Joint efforts in this direction are underway. Discussions focused on three main topics.
First topic focused on channels for BBF’s successful startups to enter referred market and kind of support to startup until it gains foothold.
Second topic is about establishment of cooperation with business incubation centers in those countries and provision for exchange of experience. Both incubation centers and startups will take advantage of this experience.
Third one refers to attraction of foreign investors to fund local startups. In this way, investors besides financial means will also contribute their experience to our startups.
Certainly, discussions and objectives not limited with above mentioned topics. They were identified as most important factors for initial stage and it was decided to start the way with them. We will advance towards new targets in future. At present, work aimed at building cooperation over three topics is underway.
The next plan includes establishment of ties with other missions in our country and cooperation with companies directly operating in international market. Through this cooperation, BBF will create opportunity for startups to enter international market, as it has been chosen as a main target.
Let me remind you that Baku Business Factory (BBF) business incubation center was established by me in May 2015, in order to support business initiatives of young people and develop their business skills. Currently, 20 different business projects operate in the center. For further information, please visit www.bbf.az.
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