BAKU, Azerbaijan, August 20. 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, Trend reports.
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.”
“Today, the robust digital infrastructure developed across the country provides real opportunities for the growth of innovation-minded communities. The Innostart project aims to realize this potential and support startups seeking to make a positive contribution to their regional economy through innovation. The project has been running for the past three years with the support of IDIA and SUP.VC. In 2024–2025, with expanded scope, activities were conducted in four regions, 20 cities, and one district. The project included 32 informational events, 8 hackathons, 8 incubation programs, and 4 regional Demo Days. In total, more than 2,000 people participated,” the chairman noted.
Osmanov added that 116 teams presented their innovative ideas and MVPs during the hackathons, 24 of which received a prize fund of 60,000 manats: “Thirty-five teams participated in incubation programs, 29 developed their projects to MVP stage, and one team received a ‘Startup Certificate.’ Today, 17 teams will present their projects at Demo Day.”
Within the trainer and mentor preparation program (ToT), 18 new mentors have been trained. The project has established partnerships with central government bodies, local administrations, state and private organizations, NGOs, universities, vocational education centers, and regional offices. This, in turn, contributes to the effective operation of innovation centers being established in the regions under the Agency’s initiative and helps build a sustainable regional innovation ecosystem.