BBF director Alovsat Muslumov: Young Azerbaijani entrepreneurs are ready to enter the world market
28 JULY, 2015

Baku. 28 July. REPORT.AZ/ Taking into account the public interest in the activities of the newly established Business Development Center "Baku Business Factory" and the sector in which the organization operates, Report presents an interview with director of the organization, Professor Dr. Alovsat Muslumov:

- Mr Muslumov, the public was informed about the activities of the Business Development Center "Baku Business Factory", that you headed at the beginning of May. The organization operating for 3 months. To what extent the interest has been manifested in BBF? Do young people use the services of the center?

- First, it should be noted that two structures center were created to support the business initiatives of young people in our center. While only one of them - Co-working Center is currently operating. The second structure - Startup laboratory will operate from September.

As for the interest of young people to the center, the results exceeded expectations.

From the day of announcement of activity 191 appeals were received and all of them were reviewed.

116 appeals were sent to Co-working center, and the rest were allocated for start-up projects.

We have to admit that we did not expect such a large number of applications. Given that the startup project will start in September, we can assume that the number of calls will increase in September.

- How can you explain such performance? 

- For several years, our country holds a series of works to support business initiatives of young people and increase their interest in this area.

In addition, some private entities carry out various competitions and support programs. All this activity has resulted in increased interest of young people to the business. Of particular note is the results of the programs implemented by the state and grants can be underlined.

- What can you say about the sent projects?

- Among them you can find promising ideas. Many of them promise to innovate, some require a special approach, there are also projects that open up simple solutions to the user.

In general, young people have appeared with projects that promise potential for the future.

Some projects are aimed at the provision of services outside the country and in this area some work has been done.

We will also support projects that will operate outside of the country. Currently, we plan how to work in this field. We believe that young entrepreneurs of Azerbaijan are ready to enter the world market.

It is encouraging that most of these projects can be traced right business approach, that is, our young people trying to do is not only the use of innovations, but also to meet the market needs in an appropriate form.

We are confident that, in the future our young people will play an indispensable role in the branching of business areas in the country and strengthen the economy.

- I would like to hear from you about another often discussed point. "Baku Business Factory" announced that all projects selected for Co-working center do not pursue material gain and all the services are free. How this process is regulated, how the question of funding solved and what is the purpose?

- That's right, when Co-working center began to operate, we announced that all the services we provide are free and it's so. Some projects received are reviewed and investigated by our staff. If staff comes to the conclusion that the project has the potential to succeed, we meet with the leaders of these projects and then make a decision.

If the project is selected, it can be totally free to take advantage of all the services.

As for start-up projects, it provides an extensive program of support, and so there will be applied a distinctive process.

In implementing this project, we will issue the whole process and declare conditions.

The process of funding the organization is carried out fully by founder, businessman Anar Alizade, who makes it free of charge for his own account.

On his personal website ( Anar Alizade publicly disclosed the purpose of the institution.

The main objective of BBF is to contribute to the formation of new business skills in the country through developing ideas of young people having business thinking through the implementation of the material-technical base.

Supporting the state program as private sector, the diversification of the economy and the development of non-oil sector, we are trying to contribute to the further strengthening of the economy.