Technopark is available at Baku Engineering University with young and dynamic academic staff and creative students. Paying special attention to the strengthening local and international business networks, BEU Technopark is actively working with both residents and startups to create an innovative ecosystem.
BEU Technology Park forms its work on the following mission:
· Developing the production of high-tech services or products with added value and finding more effective solutions;
· Supporting the sustainable development of the economy in Azerbaijan, including the non-oil sector;
· Developing the relations between business and academic staff and students of the University;
· Participating in the mastering and production of rapidly developing high-tech innovations in the world.
BEU Technopark aims the following points by using the available opportunities:
· Creating a favorable environment for effective results with professionals in the business world by assessing the teaching and research activities of the University;
· Increasing the efficiency of ccientific and research opportunities of the University, as well as involving and supporting academic staff and students-graduates in real and commercially viable research;
· Encouraging academic staff and students to engage in entrepreneurial activities and supporting them in this regard, as well as working to develop an entrepreneurial culture for this purpose.
The main activity directions of BEU Technopark are as follows:
· Innovation in Entrepreneurship: In this direction, the works are being carried out with existing businesses (residents). While most of the innovation in entrepreneurship involves projects run by companies that have opened offices at BEU Technopark, the capacity of the ecosystem is enhanced by collaborating with other companies in various projects or programs.
So far, 20 different companies have opened offices or research centers in Technopark. These companies have implemented more than 40 projects jointly or independently in Technopark. Such activities of the companies are still ongoing.
· Innovation Entrepreneurship Activities: It involves the development of new business ideas based on innovation. To effectively organize this direction, Technopark is implementing New Idea Competition. The New Idea VI competition is organized by BEU and supported by BP. Not only members of Baku Engineering University, but also anyone living in the Republic of Azerbaijan can take part in the competition.
The New Idea Startup Competition is a project that promotes and supports the development of innovative entrepreneurship (entrepreneurship, startups or technology entrepreneurship). Up to now, 842 startup projects (including 87 in 2013, 212 in 2014, 196 in 2015, 199 in 2016 and 148 in 2017) have been applied to New Idea Startup Competition. More than 100 of them have received direct support for the development. The development of 35 projects has been supported by sponsors and partners with seed funding and incubation services.
Moreover, the University has supported about 20 teams. Currently, support for 10 projects continues at Incubation Center of Technopark.