2019-06-13
Participants of the final stage (Demo Day) of NewSpace Business Accelerator Program
On June 13, French-Azerbaijani University (UFAZ) hosted Demo Day of NewSpace Business Accelerator Program organized by Azercosmos OSJ and Social Innovation Lab entrepreneurship center .
Announced in October 2018, program provides technological, industrial, and business mentoring and offers seed funding for early stage space startups. 10 outstanding ideas out of 40 applicants from 5 countries were accepted to the first batch of 16 weeks' of acceleration program where they were given hands-on training and workshops in various modules in building a new tech venture.
Only 5 team survived to Demo Day to pitch their idea through the assistance of Azercosmos and Social Innovation Lab on satellite images and industry data; technical and technology mentorship, training and insights; prototyping; matchmaking sessions; marketing resources; office space and other resources during January-May 2019. (source: newspace.az)
5 startup projects - OrientMap, ThermoNorth, Power Academy, Gileyli and Smapy (initiation of UFAZ second-year Geophysics - Geoscience Engineering students Samir Gulmammadov, Aylin Alakbarli and UFAZ Computer Science student Rasim Mammadov) participated in the Demo Day.
3 winners of NewSpace Accelerator will get seed investments by Azercosmos in the following amounts.:
1. OrientMap - 10.000 AZN
2. ThermoNorth - 5.000 AZN
3. Power Academy - 3.000 AZN
Teams will get a chance to sign contract with investors, join international trade shows and the 6-month of Scale-up program by SIL to further develop their business and gain access to international network.