Baku Business Factory celebrates 1st anniversary

Baku Business Factory, which was founded by me on May 4 last year, celebrates the 1st anniversary.

During a year, our factory has made contributions to the development of ecosystem by startups, freelancers and closely cooperating other organizations, operating in this ecosystem Generally, BBF has received about 550 appeals within a year. The projects and freelancers, which have been selected among these appeals, got support to build and develop their businesses using BBF services. Currently, nearly 70 persons, including 19 projects and 3 freelancers benefit from services of the organization. 13 of these projects have already been commercialized, 2 are carrying out works on export of their services and products. The remaining 6 projects are under preparation.

Within a year, we have rendered various training services to the projects, selected by BBF, on the topics of office and office equipment, mentoring, business. In addition to these services, we have also cooperated with other companies of the same sector and caused to launch various projects. As well as in October, 2015, we organized ‘I Baku Business Forum’ and carried out certain works in regard with development and promotion of startup environment in the country. As I mentioned in my previous post, one of the main factors, which we pay special attention while conducting works in Baku Business Factory, is to contribute to diversification of the country’s economy. Therefore, while selecting business projects, we give importance not only to their distinction from rival organizations but also from each other.

As a result, currently, 19 projects, benefiting from BBS services, cover all 4 major economic sectors, namely manufacturing, services, trade and agriculture as well as 15 different types of business activities. As a result of the works carried out towards supporting youth business initiatives, in February 2016, BBF has been awarded ‘Azeri Business Award’ National Prize by Business Time magazine, which award is presented to the best companies in the selected fields in Azerbaijan every year. BBF has been selected the best company of the year in the nomination of youth business initiative.

I would like to note that Baku Business Factory is a business incubation center, which has been founded by me in May, 2015 to support business initiatives of youth and instill business skills in them. Currently, 19 different business projects continue their activities in the center.

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