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StartUp Project: international cases and opportunities in Azerbaijan

StartUp Project: international cases and opportunities in Azerbaijan
23 February 2016

At the end of February, AzPMA organized a PM club meeting for project managers about “Stages of development of start-ups”. AzPMA members, alumni, and guests of the club have participated in this meeting. Such meetings are held for three years in order to share experiences in the implementation of their own projects at a professional level.

The meeting was started by the president of AzPMA, the first assessor of IPMA, a project manager with 20+ years experience, a certified projects director of IPMA Level “A”, doctor of technical sciences, professor, Igbal Babayev. Traditionally, the president of AzPMA awarded international certificates IPMA for program graduates: Sergey Kandratev, Head of Contracting Department in the AZEL – IPMA level “B” - Certified Senior Project Manager, and Mushvig Bayramov, Head of Project Planning and Budgeting Department in the Oil Fund - IPMA level “B” - Certified Senior Project Manager. Such certificates are registered at the main website in (Switzerland) and recognized worldwide.

Igbal Babayev said: “After law and medicine, the most popular major in the world is a project management. Today, our project managers are here in order to share their experiences about start-up projects. Top global companies started as start-up projects and now have become very famous companies, such as Uber, Facebook, Google, and etc. In Azerbaijan, the conditions for start-ups are poorly developed, and it is good that there are some young guys like Nail Valiyev, who initiated these projects in our country. This is a very good trend, and we hope that our start-up projects will be soon very popular in the world”.

Nail Valiyev, an Executive Director of Khazar Ventures, and start-up accelerator, talked about the development of start-ups. He mentioned some international cases, and also shared his opinions about the development of this field in Azerbaijan.

“Very often start-ups are called as a creation of new company or store. What is a start-up? This is a temporary organization used to search for a repeatable and scalable business model. Start-ups are always looking for investments or they work themselves, and they are investing what they earn. The ultimate goal of a start-up is money: someone buys it, like the big companies (e.g. Snapchat acquired a Ukrainian start-up Looksery for $150 million); they go International Public Offering (IPO) stock exchanges (Google, Twitter); develop as a private company” – said Nail Valiyev.

During the meeting, we discussed some cases, such as Uber, Airbnb, Facebook, and 5 Azerbaijan start-ups which are now being trained in the start-up accelerator These projects are Shrippy, Lendock, Flapus, Alkredit, Cevir, and others.

In the second part of the meeting, participants discussed the role and place of Azerbaijan in the world development processes of start-ups. The main problems and constraints are: the lack of legislation and regulation of investor relations, the necessity start-up visas for immigrants who want to open a business in Azerbaijan, the importance of the initial capital from the government, fixing tax benefits of investments from foreign funds for the development of start-ups in Azerbaijan.

At the end of the meeting, Alexandra Voloschuk, an Executive Director of AzPMA, thanked all participants for their active discussions and interest in our topic. Alexandra announced that the following topics of Pm Club, and invited all to participate these meetings.

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Цель нашей компании - предложение широкого ассортимента товаров и услуг на постоянно высоком качестве обслуживания.