Winners of the Startup Competition Held Within the IsDB Group Annual Meetings Announced
The 5th IsDB Group Startups & Innovation Pitch Competition 2026, organized within the framework of the 51st Annual Meetings of the Islamic Development Bank (IsDB) Group held in Baku, has concluded.
According to Startup.az, the competition, held under the theme “Empowering Innovation, Artificial Intelligence, Finance, Trade, and Entrepreneurship in IsDB Markets,” brought together entrepreneurs, startups, investors, and development partners from IsDB member countries.
On June 17, twelve startups that qualified for the final round presented their projects before an international audience of investors and experts at the Baku Congress Center. The participants were evaluated by an international jury appointed by the Republic of Azerbaijan (KOBIA and the Center for Analysis and Coordination of the Fourth Industrial Revolution – C4IR Azerbaijan) and the IsDB.
Speaking at the event, Mohammed Jamal Al-Saati, Director of the Special and Trust Funds Department of the IsDB Group and Special Adviser to the President of the IsDB; Orkhan Mammadov, Chairman of the Board of the Small and Medium Business Development Agency (KOBIA); Riad Hartani, Co-founder of Xona and Partner at iiValley.co; and Fariz Jafarov, Executive Director of C4IR Azerbaijan, shared their perspectives on the startup ecosystem, the Bank’s support for startups, and Azerbaijan’s startup support mechanisms.
On June 18, the winners of the competition were officially announced. A total of nine startups were awarded, including three main prize winners and six special award recipients.
Main Awards
- Gold Award (1st Place) – BioSell – USD 5,000
- Silver Award (2nd Place) – Bayuti – USD 4,000
- Bronze Award (3rd Place) – Park Hub – USD 3,000
Special Awards (USD 3,000 each)
- Artificial Intelligence and Digital Innovation – AIRT
- Climate and Sustainability – Proedia
- Financial Inclusion – Mink Platform
- Women Entrepreneurship – Climasel
- Social Impact – Smart Sagro
- Regional Integration – Interconsea (Derad Network)
More than 220 applications were submitted from Azerbaijan to the competition, which was implemented in partnership with KOBIA. Following a selection process conducted through the IsDB’s evaluation platform, 25 startups across six strategic innovation categories advanced to the next stage.
As part of the competition, a three-day Bootcamp Program was held at the Baku SME House from June 14–16. During the program, selected startups participated in intensive training and mentoring sessions focused on improving pitching skills, refining business models, enhancing investor communication, and increasing investment readiness. Local and international experts and mentors with extensive experience in innovation and entrepreneurship were involved in the program.
The competition aims to support the development of innovative entrepreneurship, expand collaboration opportunities between promising startups and investors, facilitate access to international markets, and contribute to the integration of Azerbaijan’s innovation ecosystem into global cooperation platforms.
About the 5th IsDB Group Startups & Innovation Pitch Competition 2026
The competition is an initiative designed to identify, support, and accelerate high-potential startups across IsDB member countries. It provides entrepreneurs with technical assistance, capacity-building programs, access to investment networks, and global visibility opportunities, while promoting innovation as a key driver of sustainable development and economic growth.