Our startups are taking part in the world's most renowned acceleration program-Interview
Azerbaijani start-ups have been accepted into the "500 Global" acceleration program. The 3-month program includes start-ups "Bonpara," "E-point.az," and "Voiceloft."
For your information, the "500 Global" accelerator program is regarded as one of the best in the world. Every year, dozens of startups from around the world are accepted into the program. Participating startups can use the program to develop their projects and connect with investors and investors.
The Startup.az representative had a detailed conversation with the representatives of our startups participating in the program, which is currently being held in Tbilisi, Georgia.
We have an interview with Orkhan Ahmadov, the founder of the startup "Bonpara":
Let's start with this, Orkhan: What are our startups doing now that they've been accepted into the program?
-This year, three Azerbaijani startups are taking part in the "500 Global Georgia" program. Bonpara is a platform that allows you to earn money by shopping online. The company serves both end-to-end customers and corporate entities with a "Whitelabel" solution. In other words, using the bonpara solution, any company can launch their business platform or integrate it with their existing service within a week. At the same time, the company is developing e-commerce and fintech solutions.
"E-point.az" is an online marketplace and payment aggregator for small and medium-sized businesses in Azerbaijan and abroad. By making it easier for businesses to accept electronic payments, the company promotes quicker business growth.
Additionally, the start-up "Voiceloft" concentrates on gathering and validating voice data sets that are used to create speech recognition technologies. The business provides a solution for the issue of accent and non-native speaker voice/speech recognition.
How long will the program run and what benefits will startups gain from participating?
- The three-month acceleration program will last. Participation in the program provides comprehensive training and support for our startup project's development as well as access to the global market. At the same time, they facilitate connections between program graduates and investments for their businesses.
What direction are the program's training taking?
- Within the program's framework, first and foremost, systematic work in the direction of project development, correct customer identification, marketing training, goals, and other topics are carried out.
You probably have the opportunity to observe and analyze the Georgian market. What do you think, has the startup ecosystem of the neighboring country been formed, is there potential?
- I believe Georgia's startup market is more active and advanced than Azerbaijan's. Meetings with previous year graduates are held on a regular basis within the framework of the program, and the majority of them have multi-million dollar market shares, while others have been purchased by American companies for several million dollars. The goal of holding the "500 Global" program in Georgia is to accelerate the development of the startup ecosystem in the country.
Do you believe the cases our local startups have learned from this program can help the Azerbaijani startup market develop more quickly?
-- The "500 Global Georgia" program is unique in that it supports the growth of startups from neighboring nations in addition to Georgian startups. This means that it is not just focused on Georgian startups. The third program to be held in Georgia also features startups from Georgia, Armenia, Russia, Uzbekistan, and England-Pakistan in addition to Azerbaijan. Only 15 startup projects were chosen out of more than 100 applications to the program. We are hoping that the experience and information we have gained will aid in the growth of the startup ecosystem in Azerbaijan. Even the startup "Nexsale," founded by Azerbaijanis among the alumni of the prior "500 Georgia" program, was acquired by a foreign company at the start of this year.