The second "From Us to Business" startup competition, implemented with the support of the Small and Medium Business Development Agency (KOBIA), the initiative of AccessBank, and the additional financial support of VISA, has concluded. Winners were announced at an event dedicated to the competition's results.
The goal of the competition is to inspire individuals with innovative ideas to start their own businesses, provide them with financial and mentor support, and contribute to the development of the entrepreneurial ecosystem by promoting business activities.
The competition, announced on October 15th of this year, received over 500 applications within a month. The jury selected 20 projects that met criteria such as innovation, creativity, sustainability, and profitability from the submitted projects. In the second stage, 10 projects qualified for the finals.
In the final stage, based on the jury's decision, the first place winner was "Smarted Solutions" (Safar Imanli) with the "Smart Cart" project, the second place winner was "Lumimex" with the "Production of coatings for solar panels" project, and the third place winner was Elshan Humbatov with the "Agritech Hydro Karabakh" project. Additionally, Fidan Guliyeva was selected as the special prize winner by VISA, a partner of the project, for her "Imaret Botanica" natural cosmetic products manufacturing project.
The first place winner received a prize of 25,000 AZN, the second place winner received 20,000 AZN, and the third place winner received 15,000 AZN. Furthermore, VISA presented a cash prize of 15,000 AZN to the winner of the special prize. Winners can only use the prize money in non-cash settlement form.
In their speeches at the event, Orkhan Mammadov, Chairman of the Board of KOBIA, and Davit Tsiklauri, Chairman of the Board of AccessBank, shared their views on the startup ecosystem in our country, state support and incentives for the realization of new business ideas and innovative projects, as well as public-private cooperation in this field and the support of the private sector for startups.