Ecosystem

The organization's name

BEU High-Tech Park

Fields

Entrepreneurship, Innovative projects

Description

There is a High-Tech Park working within the Baku Engineering University (BEU)

High-Tech Park of the Baku Engineering University operates based on the below mission:

• Production of added value and important hi-tech services or products and finding more productive solutions;
• Support sustainable development of Azerbaijan’s economy, including non-oil sector;
• Develop relations between business community on one side and teaching staff and students of the University on the other;
• Participate in mastering and production of rapidly developing technological innovations in the world;
• Provide favorable environment for getting positive results with business community professionals by evaluating educational and research activities of the University;
• Increase the efficiency coefficient of scientific researches of the University, as well as support and involve the teaching staff and students (masters as well) to real and commercializable research activities;
• Encourage teaching staff and students to entrepreneurship and support them in this area. Undertake activities for development of initiative.

Currently, BEU High-Tech Park has the following activities:

1. Innovative activities in entrepreneurship: this direction is implemented jointly with entrepreneurial subjects (residents). In spite of the fact that the main part of the innovative activities in entrepreneurship is occupied by the projects of companies, those have offices in High-Tech Park, capacity of ecosystem is also extended by different events organized jointly with other companies or programs;

Twenty different companies opened their offices or research centers in High-Tech Park so far. These companies have implemented more than 40 joint or independent projects in the High-Tech Park. Companies keep on implementing this type of activities.  

1. Innovative entrepreneurship activities: This direction covers development of new business ideas based on innovations development. In order to be more efficient High-Tech Park holds New Idea Competition (NIC). NIC is the biggest startup competition in Azerbaijan. During the last four competitions, NIC evaluated 694 projects and supported 29 of them. Currently, the fifth NIC is underway.

In addition, High-tech Park supported about 20 projects within the project on support of university startups so far. Currently, ten similar university projects receive support in the Incubation Center of High-Tech Park.