“Azerbaijan has actively prioritized the development of the startup and innovation ecosystem in recent years and views this area as a central pillar of economic diversification, competitiveness and new generation entrepreneurship,” said Economy Minister Mikayil Jabbarov in his address at the 2nd meeting of the Ministers of Industry, Science, Technology and Innovation of the Organization of Turkic States held in Baku.

The Minister noted that the entrepreneurial spirit, agility, and innovative mindset of startups play a crucial role in forming new economic values, expanding the non-oil sector, and fostering a competitive technological environment in the country.

Speaking about initiatives implemented in this direction, Minister Jabbarov highlighted the activity of the “Sabah.hub” innovation center, which brings together young professionals, startups, and investors, supporting them throughout the process from idea generation to commercialization. He added that the Sabah Venture Fund, established under the center, invests in local innovation projects and helps shape new-generation technology companies, demonstrating Azerbaijan’s commitment to making innovation a key pillar of its economic policy.

“In order to promote joint activities of Turkic states in the field of startups, facilitate the realization of innovative ideas, and expand access to regional markets, we propose the creation of a new cooperation format – the Turkic States Startup and Innovation Cooperation Platform,” the minister said.

“This platform will serve as a unified mechanism for coordinating cooperation among member countries in the fields of innovation, startups, and the digital economy, facilitating the exchange of knowledge, experience, and technological resources. The initiative will accelerate innovative development across the region and create new opportunities for young entrepreneurs to realize their potential.”

Mikayil Jabbarov also proposed the establishment of the Turkic Patent Organization (CTPO) by the OTS Working Group on Industry, Science, Technology, and Innovation, noting:

“Strengthening cooperation in the field of intellectual property is of strategic importance, as it forms the foundation for the advancement of innovation, science, and industry. At the same time, the initiative to establish the Turkic States Metrology Organization (TÜRKMET), which was put forward at the 10th Summit of the Organization of Turkic States held in Astana in November 2023, holds significant importance for the development of industry and technology. The creation of TÜRKMET will contribute to deepening regional economic integration and strengthening scientific research and innovation potential.”