Azerbaijan plans to establish 2nd business incubator
By Nigar Orujova
Azerbaijan plans to create the second business incubator in 2015, Baku Business Training Center Head Akif Farrukhov said.
The first business incubator was established in Guba-Khachmaz economic region and now the second one will be opened in Aran economic region.
Participants of these incubators will have an opportunity to present business ideas in different fields: agriculture, industry, tourism and the service sectors.
However, Farrukhov noted, the business incubator, which will be created in Sumgayit Chemical Industrial Park, will focus mainly on the industrial sector.
"This business incubator will be opened in the center of a professional training in Sumgayit Chemical Industrial Park and its construction will be completed within two years," he said.
The first business incubator was opened in Guba-Khachmaz economic region in September. Currently, this business incubator is at the first stage of its activity.
The first phase will be completed before December 10 this year, and the second phase will begin in January 2015, he said.
Farrukhov noted that in the second phase, establishment of the Alumni Association of Business Incubators is foreseen, which will support young entrepreneurs in their further activities.
Currently, the business incubator in Guba-Khachmaz region offers courses on 12 different areas that completely cover the stages of planning, organizing and conducting business.
The courses include such areas as the basis of planning and organization of business, marketing, management, logistics, and business negotiations.
Consulting services will be organized for the participants of the business incubator in the next eight months after completion of the courses.
"Consulting services will be conducted by relevant government agencies and the private sector," Farrukhov said.
Participants of the business incubator are exempt from all kinds of payments. Symbolic fee is charged only for the lease of offices.
In the future, members of the business incubator will undergo training in business incubators in other countries.
Azerbaijan distributed a total of 278.4 million manats soft loans to 3,040 young entrepreneurs in 2002-2014. The entrepreneurs created about 13,000 new jobs. The loans also helped the young entrepreneurs to press ahead with their business.