Boğaziçi Ventures fund starts financing startups in Azerbaijan
Boğaziçi Ventures, the first venture fund in Azerbaijan, is starting to finance startups. Startups that have been evaluated within the framework of the fund’s internal policy will be able to receive investment from the funds in the amount of $ 5 million allocated for investment.
The procedure to apply for receiving an investment is divided into three stages.
At the first stage, which starts on November 20, startups can register on the website of the Innovation Agency under the Ministry of Transport, Communications and High Technologies by filling out the application form. This form is a classification of startups developed by the Innovation Agency in accordance with international standards. Immediately after completing the qualification questionnaire, startups will be sent an e-mail with information about the category to which they belong. Only applications from startups of category A and B for investment from the Boğaziçi Ventures venture fund will be considered.
You can register by clicking on this link here.
Application deadline is December 20, 2020.
At the second stage, the applications will be evaluated by the staff of the Innovation Agency. Startups that have passed the qualifying stage will be invited for an interview and initial evaluation.
Eventually, the results of the startups that have successfully passed the qualifying stage will be sent to the head office of the Boğaziçi Ventures venture fund in Turkey for final evaluation. The head office will determine the startups that will receive investments and the amount of investment allocated to them.
It should be noted that the services and products of investment startups will be exported to foreign markets as soon as possible.
As a result of joint cooperation between the Innovation Agency and the Boğaziçi Ventures venture fund, it is planned to ensure the rapid development of startups and access to foreign markets by the end of 2021, as well as increase the export of technologies of our country. At the same time, the Innovation Agency continues its activities in attracting venture funds to Azerbaijan, which are engaged in financing startups at various stages of development, in order to accelerate the development of the innovation ecosystem.
You can get information on the criteria by categories at this link.
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