Azerbaijan hosts global summit to provide ample opportunities for startups

The global event Falcons Summit was organized in Baku by the Innovation Agency under the Ministry of Transport, Communications and High Technologies.

The main objective of the Falcons Summit is to provide investors with innovative startup projects in various fields, discuss financing availability and demonstrate current investment opportunities of Azerbaijan.

The event is focused on increasing capital and creating new opportunities for startup companies wishing to establish business relations with major investors, business leaders, representatives of international organizations and government agencies.

Deputy Minister of Transport, Communications and High Technologies Elmir Velizade, senior officials of the Ministry of Ecology and Natural Resources and company BP spoke at the opening ceremony of the summit.

Then, a video called InnovaNation made by the Innovation Agency and reflecting the investment potential of Azerbaijan and prospects for investing in the country was shown.

The summit brought together investors, startuppers, entrepreneurs, representatives of companies and organizations from the Gulf countries (Kuwait, Saudi Arabia, Qatar, the United Arab Emirates and Oman), as well as Japan, Italy, France, Israel, Switzerland, Great Britain, Turkey, Belarus, USA, Kazakhstan, South Korea, Brazil, Germany, Russia, Czech Republic, India and Ukraine.

Along with the delegation of the aforementioned countries, the event was also attended by heads of state and government agencies, representatives of diplomatic corps, the banking and financial segment and the founders of private companies.

In total, the event was attended by representatives of over 500 projects and companies.

It is also planned to hold meetings in B2B format between potential investors, venture funds and startup companies as part of the Falcons Summit, which will run until April 26. At these meetings, some 40 representatives of various projects had the opportunity to present their products and services to potential investors.

As part of the event, industrial tours will also be organized for foreign investors.

The summit is planned to be held annually on the threshold of the Formula 1 Azerbaijan Grand Prix.