Baku: The 5th IsDB Group Startups and Innovation Pitch Competition 2026, organized as part of the 51st Annual Meetings of the Islamic Development Bank (IsDB) Group, has concluded in Baku. Held 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.
According to Azerbaijan State News Agency, on June 17, twelve startups advanced to the final round and presented their projects before international investors and experts at the Baku Convention Center. The participants were evaluated by an international jury appointed by the Republic of Azerbaijan (KOBIA, C4IR Azerbaijan) and the IsDB. Key speakers at the event included Mohammad Jamal Al-Saati, Special Advisor to the President of the Islamic Development Bank Group, Orkhan Mammadov, Chairman of KOBIA, Riad Hartani, Co-founder of Xona, and Fariz Jafarov, Executive Director of C4IR Azerbaijan, who discussed the startup ecosystem and support mechanisms available for startups in Azerbaijan.
On June 18, the winners of the competition were officially announced. Nine winners were selected and awarded, including three main prize winners and six special award recipients. BioSell won the Gold Award with USD 5,000, Bayuti received the Silver Award with USD 4,000, and Park Hub earned the Bronze Award with USD 3,000. Additionally, special awards of USD 3,000 each were given to AIRT, Proedia, Mink Platform, Climasel, Smart Sagro, and Interconsea (Derad Network) for achievements in various categories.
More than 220 applications from Azerbaijan were submitted to the competition, implemented in partnership with KOBIA. After a selection process via the IsDB evaluation platform, 25 startups across six strategic innovation categories advanced to the next stage. A three-day Bootcamp program was held at the Baku SME House from June 14-16, where selected startups participated in training and mentoring sessions to enhance their presentation skills, refine business models, improve communication with investors, and increase investment readiness.
Local and international experts and mentors with experience in innovation and entrepreneurship were involved in the program. The competition aims to support the development of innovative entrepreneurship, expand cooperation opportunities between promising startups and investors, promote startups' access to international markets, and integrate Azerbaijan's innovation ecosystem into global cooperation platforms.
The IsDB Group Startups and Innovation Pitch Competition is a flagship initiative to identify, support, and accelerate high-potential startups across IsDB Member Countries. It offers entrepreneurs access to technical support, capacity-building, investment networks, and global visibility, promoting innovation as a driver of sustainable development and economic growth.