The opening ceremony of the SID project, implemented under the slogan “Your idea is supported” with the support of the INNOLAND Incubation and Acceleration Center, has been held.

The SID project not only promotes the development of creative initiatives but also contributes to optimizing operations at OBA, implementing innovative solutions, and overall diversifying Azerbaijan’s startup ecosystem.

The opening ceremony was attended by senior representatives of Veysəloğlu Group of Companies and the Director of the Innovation Center under the State Agency for Public Service and Social Innovations under the President of the Republic of Azerbaijan, Vusal Rustamov.

Speaking about the project, Vusal Rustamov stated that the Innovation Center is ready to share its resources in order to create an effective incubation environment for the 33 selected startups. He emphasized that this cooperation is a bright example of public-private partnership and highly appreciated OBA’s initiative.

It should be noted that a total of 183 teams applied for the project, and 33 of the most promising teams were selected for the next stage.

Within the framework of the project, a total prize fund of 10,000 AZN has been allocated.

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Meeting on “Special Regulatory Regime” for Fintech Startups Held

A meeting on the “Special Regulatory Regime,” which is of significant importance for the fintech ecosystem, was successfully held with the joint organization of the Central Bank of the Republic of Azerbaijan and the INNOLAND Incubation and Acceleration Center.

During the presentation, detailed information was provided on the purpose of the special regulatory regime, evaluation criteria for applications, and the pilot process, followed by extensive discussions in this direction. The session was both informative and practically useful for startups operating in the fintech sector.

Speakers:
• Sahib Hasanov– Head of Department, Central Bank of the Republic of Azerbaijan
• Vagif Guliyev– Senior Specialist, Central Bank of the Republic of Azerbaijan

The meeting included extensive discussions on existing opportunities for the fintech ecosystem, regulatory requirements, innovation regulation, and future cooperation prospects. A Q&A session was also organized for participants, during which current issues in the field were explained in detail.