Local startups showcase products at TEKNOFEST in Azerbaijan [PHOTO]
The largest Aerospace and Technology Festival Teknofest kicked off in the Azerbaijani capital Baku on May 26, Azernews reports.
As part of the event, Take Off Baku international startup summit, various competitions, and exhibitions are being held. The Azerbaijani Agency for Small and Medium Business Development is one of the main partners of the Take Off Baku Startup summit and exhibitions.
With the agency’s support, local startups are showcasing their innovative projects and solutions to investors and venture capital funds. These include solutions for agriculture, smart city, smart lighting, drones, smart mailboxes for logistics, 3D printer and software, etc.
The agency has issued startup certificates and allocated grant funds for relevant projects. Moreover, throughout the festival, startups will have the opportunity to present their projects to investors and venture capital funds and join competitions with a total prize of $50,000.
The goal of Take Off Baku startup summit is to contribute to the development of the startup ecosystem by creating a favorable environment for innovative entrepreneurship in the region and developing international cooperation. The meetings with different companies, speeches by authoritative speakers, and other events are scheduled as part of the summit.
The festival will be held from May 26 to 29 on the territories of the Baku Seaside Boulevard and Baku Crystal Hall.
The Teknofest Aerospace and Technology Festival has been held annually in Turkey since 2018 by the Ministry of Industry and Technology of Turkey, as well as the Turkish Technology Team Foundation (T3 Foundation).
In 2021, Azerbaijan participated in Teknofest for the first time. Products and solutions from 10 startups and a local company were showcased during the festival's exhibition section in Azerbaijan's national pavilion and a local unmanned aerial vehicle, manufactured by the Defense Industry Ministry, was unveiled. This year the festival is being held in Azerbaijan for the first time.