Have you heard startups say, “we’re already in the acceleration stage”? 
But what does acceleration mean?

Acceleration is the phase where startups that have tested their idea and are ready to grow gain speed.

At this stage, teams:
meet with investors
strengthen market strategies
refine sales and marketing plans
focus on realistic goals with mentor support

In simple terms, acceleration is the moment when a startup is not just starting, but preparing to grow. 

What do you think is the most important factor for a startup at this stage — mentorship, market strategy, or investor support?

On March 17, memorandum of understanding signed between "Innovations Center" LLC (INNOLAND), which is subordinate to the State Agency for Citizens Service and Social Innovations under the President of The Republic of Azerbaijan, and “Yeni Fikir” LLC. The purpose of the Memorandum is to support entrepreneurship ecosystems for technological startups in our country and in the regions of Azerbaijan and to implement a high-level partnership that serves the needs of emerging (or other) technology entrepreneurs.

The document, along with the formation and development of technology entrepreneurship, also reflects cooperation issues related to the strengthening of business initiatives. Thus, the content of the Memorandum reflects the factors that are being estimated for the establishment and development of innovation ecosystems in our country, as well as business initiatives.

"Innovations Center" LLC (INNOLAND) cooperates with local and international organizations in accordance with the strategy of the development of innovation ecosystem in our country and in the region, as well as for the development of technology entrepreneurship (startups). As one of such organizations, "Yeni Fikir" LLC is one of the companies operating in the intellectual sector in Azerbaijan and having a specific role in the formation of startup culture.

Thus, the "Yeni Fikir" startup competition, which was held for the sixth time this year, is being implemented by "Yeni Fikir" LLC, sponsored by BP, the Baku Engineering University. The company "Yeni Fikir" cooperates with "Innovations Center" LLC (INNOLAND) in organizing the same startup competition. Five startup projects that will win the competition.

The development of five startup projects that will win the competition will also be supported at the Innoland Incubation and Acceleration Center.

During the first week of July mentors and startups from “INNOLAND“ visit the new “INNOLAND“ Sheki to discover new startups. Participants will be introduced to basic entrepreneurial concepts during 2 days of workshops, followed by a Hackathon to apply the newly gained knowledge and put it into practice. The winners of the Hackathon will be accepted to “INNOLAND“ Sheki 6-month Incubation Program including working space in “INNOLAND“ Sheki Coworking.

Selection Criteria

• over 18
• basic level of English

Agenda:

Day 1: General Workshops

• What is a startup?
• How to come up with a startup idea?
• Market Research: Why and How?
• Value Proposition

Day 2: General Workshops

• Business Model Canvas: Business Modelling, Business Planning
• Lean Methodology
• Pitching

Day 3: Start of Hackathon + Speakers

• Startups from “INNOLAND“ Baku will share their entrepreneurial experience
• Hackathon will be launched: Ideas put on voting, best 5-6 will be chosen for team forming with a goal to form a startup by the end of the Hackathon

Day 4: Teamwork + Mentoring

• Selected teams will work on their projects with the support of “INNOLAND“ mentors + “INNOLAND“ Baku startups.

Day 5: Teamwork, Final Presentations + Winner Announcement

• Half day: Continue teamwork
• Half day: Final Presentations in front of the jury to determine the top 3 teams

For registration: http://bit.ly/2MWFSQX