As a reminder, PASHA Holding, and its strategic assets have launched the KickBox program since October 2021. The main goals of the program are to develop internal entrepreneurship, develop innovation culture within-group, identify innovative business ideas, and support their implementation.
Since the launch of the program, we have 260 ideas submitted, out of which more than 82 were moved to the Redbox stage and 19 were approved to the Bluebox stage. The presented ideas were approved by the Innovation Advisory Board, and the owners of the ideas have already begun to work on their products.
The first BlueBox Demo Day took place on December 21, 2022. The batch of the below-mentioned 4 BlueBoxers presented their progress and POCs (Proof of Concept) to the Innovation Sponsors:
- Realytics – Emil Huseynov from Competo
The initial goal of the project is to increase sales efficiency and optimize processes with modern analytical solutions in the field of retail.
- Budgety – Baghir Nuraddinov from Competo
With the help of this application, you can control your income and expenses, plan your future expenses, automate your routine payments, and shape your financial resources. In addition, you can get useful information on your expenses and plans every day, get discounts from partner companies. In a nutshell, this program plans to become your life guide.
- I-Check – Leyla Orujova from PASHA Insurance
I-Check is mobile application designed to guide patients through all medical issues, beginning from the symptoms ending with the right solution.
- Around Azerbaijan – Samira Gasimova from Competo
Main direction of company “Around.az” constitutes the domestic tours. Mission of the platform is to master the beauties of Azerbaijan, and to elicit the culture of different nations accompanied by professional guides and excellent team.
We are pleased to announce that 3 of these ideas (Budgety, I-Check and Around Azerbaijan) got the interest from the Sponsors. As the next step, within the next 1-2 weeks, separate meetings to be organized between the mentioned BlueBoxers and the respective Sponsors to discuss the development of their startups and the amount of investment they will receive.
We congratulate our colleagues on this occasion and wish them success in growing their startups to the next level!
Additionally, during the same day, the eights batch of the following 4 RedBoxers presented their ideas to the Innovation Sponsors:
- UmiTwo – Mehpara Gasimaliyeva from PASHA Insurance
The purpose of this idea is to ensure convenient purchase of second-hand new, little, or used items for a certain period of time through the application. It is also to carry out public events in order to deliver voluntarily donated items to people in need (Children’s home, old people’s home, animal shelters, people with low financial and social security, etc.). The vision of this idea is to reduce the consumption craze and ensure that unused items are delivered to those in need by promoting sharing.
- Carelp – Musa Valiyev from Kapital Bank
Our idea is offering an online psychological consultation for employees within the PASHA Group. Also, we are not going to offer with just online consultation, we think of adding color to the lives of our employees with projects in the TEDx format, consultations or coaching for employees with physical disabilities. The process will be carried out completely transparently between the psychologist and the employee, and no information will be transferred to the company where he/she works.
- Lucrum – Khalig Gafarli from PASHA Insurance
Lucrum (means “profit” in Latin) is offered to create a marketplace for SMEs. People will be able to sell a part or whole of the businesses (or possibly estates). In Lucrum, we will not have stock listings with online buy/sell order of the stocks, rather we will present businesses and potential investors will get in touch with us for further steps. We need to meet investor and the entrepreneur conduct buy/sell/transfer mechanisms. Lucrum should be 3 specializations in 1 company. Law, financial valuation, and sales at the same time. The biggest problem with the SMEs today is that they do not know the value of their company. Lucrum will also offer valuation, and in the marketplace the company will be seen as “Lucrum valued” which will give buyers some confidence about the company. Income channels of Lucrum is going to be business valuation and commission from contracts.
- KrediBox – Murad Gulmammadov from Kapital Bank
Kredibox mobile application is a universal application that allows customers to find out their credit rating. The goal of the project is to encourage people to approach loan payments responsibly. Based on the rating, it will be possible to receive a loan offer from the Banks, as well as send a loan application to the Banks according to the rating. Application data is obtained from Azerbaijan Credit Bureau LLC and presented to the client as a rating.
The Kredibox project was approved to the Bluebox and secured the requested budget from the sponsor. We congratulate Murad on this occasion and wish him success in executing the proof of concept (PoC)!
At the moment, the total investment amount for projects at the BlueBox stage is 548,865 AZN.
For colleagues who are unable to watch Demo Day, we attach a video of the event to this communication.
It should be noted that the Kickbox project continues in our companies, and any employee can apply to the program with their business idea. All you have to do is enter the Kickbox platform and complete the application form.