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Nov 14, 2023 785

"SABAH.HUB", one of the innovation centers in Azerbaijan, has announced an investment fund that is expected to reach 30 million dollars!

#Regional

"SABAH.HUB", which works to contribute to economic development by creating a competitive innovative ecosystem in Azerbaijan and to transform the region into an innovation center, has announced its fund, which is important for the startup ecosystem.

SABAH.HUB, serving as an innovation center in Azerbaijan, aims to create a competitive innovative ecosystem to contribute to economic development and transform the region into an innovation hub. Operating under the umbrella of SABAH.HUB are three main directions: SABAH.academy, SABAH.incubation, and SABAH.lab. Additionally, the center collaborates with "IE Business School" on startup programs.

A partnership memorandum has been signed between SABAH.HUB Innovation Center and "White Hill Capital," the managing company of a venture capital fund that invests in innovation and rapidly growing startups. The purpose of establishing the fund is to expand partnerships for supporting and financing startups in Central Asia, Turkey, and the MENA region. The total amount for the new support fund is expected to be up to 30 million dollars.

During the memorandum signing process, representatives from both sides expressed their perspectives.

Rəhim Bayramlı, the Executive Director of SABAH.HUB Innovation Center, stated, "We highly value the role that 'White Hill Capital' plays in Kazakhstan and its commitment and support for the regional venture capital scene. As an institution sponsored by the World Bank, 'White Hill Capital' is responsible for maintaining the highest professional and ethical standards while supporting emerging companies. This Memorandum of Agreement emphasizes the excellent business relationship between SABAH.HUB Innovation Center and 'White Hill Capital,' highlighting our full and joint support in shared priority areas."

Aslan Sultanov, the Managing Partner of "White Hill Capital," mentioned, "As venture capital markets in both Kazakhstan and Azerbaijan attract increasing attention and the number of entrepreneurial startups continues to grow, partnerships are crucial. By signing the new memorandum of agreement, we, as 'White Hill Capital,' applaud the continuous commitment to putting effective capital to work, showcasing SABAH.HUB as an example."

To stay closely acquainted with the activities of SABAH.HUB Innovation Center and avoid missing out on continuous innovations, interested individuals are invited to follow their official social media channels (facebook.com/sabah.hub.ic and instagram.com/sabah.hub) and the official website (www.sabahhub.com).