BBF: New Steps in the New Year

Being engaged in implementation of serious projects since its commencement, Baku Business Factory (BBF) have carried out a number of significant and memorable works to support startups in 2017. Of course, our main purpose is growing every year and the works to be realized are diversifying and developing simultaneously. At the beginning of the New 2018 Year, I would like to share with you new targets and focuses, as well planned projects in addition to the works that have been launched so far by Baku Business Factory.ilham-serencam212121212

Cooperation and joint projects are always important. For this reason, the BBF is eager to find new partners in each work that we keen to give a life. We have started to cooperate with the Ministry of Economy in late 2017. This cooperation creates many new opportunities for Baku Business Factory. As it is well known, according to the instruction of the President Ilham Aliyev, serious work is underway in our country for many years for the development of local entrepreneurship. Of course, one of the institutions most actively participating in implementation of such projects is the Ministry of Economy. Acquaintance with extensive database acquired for many years, experience and knowledge will be useful both for the BBF and its co-working startups. I believe that this cooperation will create new opportunities in development of local entrepreneurship, and our brilliant young people will have easy access to these opportunities.

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One of the new directions that will be of great importance for us in 2018 is work with talented youth living in our regions. One of our main purposes is to identify these young people and provide them support to realize own ideas. They can implement ideas in the region they live or come to Baku and directly use internal capabilities of BBF. In either case, we will try to support them. There is much work to do in this direction. First of all, we plan to visit the regions along with other experts cooperated by the experienced and professional team of Baku Business Factory, to identify their potential, as well as encourage bright young people living in regions to build and implement the ideas. Clearly, we will try to cooperate with other organizations on this way. Just the cooperation we have established with the Ministry of Economy is very important for us in this work, their regional offices will play a serious role in coordination of our activities and building relationships. We are negotiating with other state agencies and private organizations to cooperate in this field.

Saying bright young people, first of all, we often mean students. Therefore, we have decided to expand our work with students in 2018. So far students were able to benefit from BBF only for implementing startup projects and participating in organized seminars. Now they will also benefit from the BBF practice programs. Firstly, we have started cooperation with the Azerbaijan Tourism and Management University (ATMU). A group of students will have professional work experience at Baku Business Factory, familiarize with how startups work and closely take part in marketing research and project development processes. In next months, various works will be carried out with other universities in this sphere, too.

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One of the main priorities in 2017 was to cooperate with foreign partners and create conditions for our startups to gain benefit from their experience and opportunities. We have carried out a lot of serious works in this field and now we intend to further expand this area. Cooperation we have established with the South Korean Embassy in Azerbaijan has already reached a new stage. An agreement was made on allocation of co-working space for mentors invited from Korea at the BBF, and it also foresees provision of specialist support to local startups. We will start to implement it soon. Serious steps have been taken and meetings were held for cooperation with other countries. We will regularly give a detailed information on agreement we had reached and projects realized in this sphere.

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We have started year 2018 with great projects and plans, and most importantly, with a great enthusiasm. Each project we will jointly implement together with our team, young friends, cooperating experts and organizations will bring us to our common purpose a step closer.

I’d like to remind that Baku Business Factory is a business incubation center that I have established in May 2015 to support business initiatives of young people and instill their business skills. Currently, 20 different business projects are underway in the center. For detailed information please visit: http://bbf.az/.