Guided by calling of Azerbaijani President to representatives of the business elite to direct all their efforts to support economic diversification and development of non-oil sector, we have started a new project in Baku entitled “Baku Business Factory” (BBF). The main objective of BBF is to provide professional support the youth in the first phase of the projects with creative business ideas, which will have a positive impact on the economic and social development of the country. Recently, in our country at the initiative of young people organized a lot of new businesses. However, most of them can’t continue their activity. The reasons can be pointed to the lack of experience in management and marketing, logistics databases, investment, difficulties in organizing the team and other factors. In the end, despite the fact that our young people put forward intelligent and creative ideas, this kind of reasons they create obstacles to achieve success. In recent years, under the leadership of President Ilham Aliyev government conducts large-scale measures to eliminate the causes of this kind, creating the conditions for successful business organization youth, as well as providing them with direct support. As a result of these activities and the implementation of government programs the number of young people organizing a successful business is growing every day. Guided by the recent call of the President, directed the business community, to direct all the efforts on the development of innovative projects in the country, we, as representatives of the business elite have decided to establish BBF, in order to support our country in this area, to promote the diversification of the Azerbaijani economy. We believe that, any young Azerbaijanis with an outstanding idea enough to give one chance to achieve a success. We will try to provide support for the creation of such a chance and give them a successful experience. BBF activities will be carried out within the framework of two structural divisions. One of the departments – Startup Lab will be available for startups, taken to the laboratory, depending on the complexity and profitability of the project. During this time, BBF will provide startups with offices and office equipment, free IT services, also to maintain training and business management carried out by local and foreign experts. Exemplary startups proven themselves for a predetermined time, gain the opportunity to get investment from BBF. In another department – Coworking center, mainly freelancers (programmers, translators, designers, etc.), of small businesses and projects will be able to use a common room for activities. The appearance of Co-working center differs little from other offices. The main difference is the absence of any dependence from each other of people working here. Office of the organization is also different in their appearance. In the office, all conditions for work and leisure, freedom of action for startups, small businesses and freelancers are provided: operating rooms with a distinctive design, meeting rooms, lounge and games room, kitchen, high-speed internet, phone, reception and other equipment required for the office.