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Winners of the Startup Competition Held Within the Framework of the Islamic Development Bank Group Annual Meetings Announced 19.06.26
Winners of the Startup Competition Held Within the Framework of the Islamic Development Bank Group Annual Meetings Announced

The 5th IsDB Group Startups & Innovation Pitch Competition 2026, organized as part of the 51st Annual Meetings of the Islamic Development Bank (IsDB) Group held in Baku, has concluded.

Organized under the theme “Empowering Innovation, Artificial Intelligence, Finance, Trade, and Entrepreneurship in IsDB Markets,” the competition brought together entrepreneurs, startups, investors, and development partners from the member countries of the Islamic Development Bank.

On 17 June, twelve startups that had advanced to the final round presented their projects before international investors and experts at the Baku Convient Center. The participants were evaluated by an international jury appointed by the Republic of Azerbaijan (KOBİA, C4IR Azerbaijan) and the IsDB. 

During the event, Mohammad Jamal Al-Saati, Special Advisor to the President, and OIC Director Special & Trust Funds Department of the Islamic Development Bank Group, Orkhan Mammadov, Chairman of the Management Board of the Small and Medium Business Development Agency (KOBİA) of the Republic of Azerbaijan, Riad Hartani, Co-founder of Xona and Partner at iiValley.co, and Fariz Jafarov, Executive Director of the Center for Analysis and Coordination of the Fourth Industrial Revolution (C4IR Azerbaijan), shared their views on the startup ecosystem, the Bank’s support mechanisms for startups, and the startup support instruments available in Azerbaijan.

On 18 June, the winners of the 5th IsDB Group Startups & Innovation Pitch Competition 2026 were officially announced. A total of nine winners were selected and awarded, including three main prize winners and six special award recipients:

First Place (Gold Award) – BioShell – USD 5,000

Second Place (Silver Award) – Bayuti – USD 4,000

Third Place (Bronze Award) – Park Hub – USD 3,000

The following startups each received a USD 3,000 Special Award:

Artificial Intelligence and Digital Innovation – AIRT

Climate and Sustainability – Proedia

Financial Inclusion – Mink Platform

Women Entrepreneurship – Climasel

Social Impact – Smart Sagro

Regional Integration – Interconsea (Derad Network).

It should be noted that more than 220 applications from Azerbaijan were submitted to the competition, which was implemented in partnership with KOBİA. Following a selection process conducted through the IsDB evaluation platform, 25 startups across six strategic innovation categories advanced to the next stage of the competition.

As part of this stage, a three-day Bootcamp program was held at the Baku SME House from 14–16 June. During the program, selected startups participated in intensive training and mentoring sessions focused on enhancing presentation skills, refining business models, improving communication with investors, and increasing investment readiness.

Local and international experts and mentors with extensive experience in innovation and entrepreneurship were engaged in the program. The primary objective of the competition is to support the development of innovative entrepreneurship, expand cooperation opportunities between promising startups and investors, promote startups’ access to international markets, and contribute to the integration of Azerbaijan’s innovation ecosystem into global cooperation platforms.

About the IsDB Group Startups & Innovation Pitch Competition

The IsDB Group Startups & Innovation Pitch Competition is a flagship initiative designed to identify, support, and accelerate high-potential startups across IsDB Member Countries. The competition provides entrepreneurs with opportunities to access technical support, capacity-building, investment networks, and global visibility while promoting innovation as a driver of sustainable development and economic growth.

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