Baku advances by 68 positions in global startup ecosystem ranking
On May 30, 2024, a presentation conference for the 2024 report of the "Global Startup Ecosystem Index" was held by "StartupBlink", the global startup ecosystem map and research center.
During the event, a representative from the State Agency for Public Service and Social Innovations under the President of the Republic of Azerbaijan highlighted the support provided to the private sector in the country, as well as the initiatives, goals, and innovations implemented by the "INNOLAND" Incubation and Acceleration Center in this direction.
The report selected 100 countries and 1,000 cities worldwide that offer a conducive environment for startup development. Compared to last year, Azerbaijan has advanced 4 positions in the ranking, entering the top 80. Baku, meanwhile, made the most significant leap in the city rankings, advancing by 68 positions to become one of the top 350 cities.
When calculating the rankings, factors such as the number of innovation centers, investors, registered startups, and acceleration programs in the cities, as well as the infrastructure created for startups and its utilization, incentive mechanisms, innovation activities at universities, the market size for startups, and research and development activities, are considered.
It is worth noting that since 2022, the State Agency has been the main country partner of the "StartupBlink" organization.
Efforts continue to share information about developments in the local innovation ecosystem, ongoing projects, and support initiatives on the international stage, aiming to further improve our country's standing in international rankings.