How Startup Wise Guys and SABAH.HUB Empower Fintech Entrepreneurs in Azerbaijan through the Fintech Founders Club
At Startup Wise Guys, we’ve always believed in supporting aspiring founders from day one, and our Founders Club format is a testament to that mission. Over the course of 12 successful editions, this program has offered senior professionals a structured pathway into entrepreneurship. With the 13th cohort, we took a focused approach: collaborating with SABAH.HUB, a leading innovation hub in Azerbaijan, to empower Azerbaijani fintech entrepreneurs. This edition, called the Fintech Founders Club, was a 4-weeks hybrid journey specifically tailored for fintech founders, equipping them with the skills, mentorship, and network to turn their startup ideas into viable products.
Fintech Founders Club: Supporting Azerbaijani Innovators
The Fintech Founders Club 13 brought together a diverse and talented group of founders with a strong focus on fintech innovation in Azerbaijan. We received 94 applications and selected around 30 participants and 4 teams for this intensive entrepreneurial journey. The program offered a blend of intensive workshops, 1:1 mentoring sessions, and a combination of offline and online engagements. It provided participants with a comprehensive guide to building and scaling a fintech startup in today’s market.
But what did it mean for the founders who joined the program? Let’s take a closer look at the success stories of two standout teams: Zetetis and Pool Insurtech.
Zetetis’ Story: From Idea to Structured Business Plan
Zetetis’ team entered the program with a clear fintech concept but needed help refining their business model and securing key partnerships. According to Tamerlan, one of the co-founders, The Fintech Founders Club was pivotal in shaping our business model, understanding venture capital, and refining our idea. We developed a pitch deck, prototype, and better customer insights, which significantly boosted engagement and impact in meetings with potential partners..” This highlights the critical role of market validation and structured guidance in accelerating a fintech startup’s journey from idea to product.
Pool Insurtech: Finding the Right Co-founder and Refining the Vision
For Hikmat, The startup has grown from just an idea into a more refined model, shifting towards a more customer-oriented approach. “I learned that it’s crucial to focus on how quickly your product can enter the market and, more importantly, to determine if the market really needs it or not.” This shows how the program goes beyond product development to address the foundational aspects of building a strong startup team.
“Being in Baku was a delight! It was a wonderful surprise to see that the ambition and passion for B2B solutions go beyond cultural and geographical borders. Working with so many talented individuals in Azerbaijan was inspiring.”
SABAH.HUB & Startup Wise Guys: A Strategic Collaboration
SABAH.HUB plays a critical role in accelerating the development of Azerbaijan’s startup ecosystem. Through partnerships with key stakeholders across education, government, and the private sector, it fosters technological innovation and economic diversification. The collaboration with Startup Wise Guys brought key advantages to the Azerbaijani fintech scene:
- Global expertise: Startup Wise Guys provided tailored support and resources, giving Azerbaijani startups world-class mentorship.
- Access to networks: Local startups gained access to an international network of mentors, investors, and experts.
- Investment opportunities: The program facilitated early-stage investments, strengthening the financial foundations of emerging ventures.
- Sector-specific focus: By concentrating on high-growth sectors like fintech, the partnership ensures startups can scale and innovate locally and globally.
This strategic collaboration ensures that Azerbaijani startups are equipped to thrive in a highly competitive global market.
Building a Thriving Fintech Ecosystem in Azerbaijan
With SABAH.HUB’s deep regional expertise, local fintech startups were able to bridge the gap between local talent and global opportunities. The program brought international mentors and investors to Azerbaijan, creating a vibrant startup ecosystem that fosters innovation and growth.
Jamal, CEO at Peerstack and former Head of Incubation & Venture Associate at SABAH.HUB, shared his thoughts on the future of fintech in Azerbaijan: “We foresee significant investments in fintech over the next few years due to several factors:”
- Employment in banking: With many Azerbaijanis working in the banking sector, there’s a pressing need for digital innovation to improve efficiency.
- Sector growth: The financial and fiscal sectors are expanding, and fintech startups can accelerate this growth by driving digital transformation.
- Demand for digital solutions: The shift toward digital payments, banking, and insurance presents a tremendous opportunity for fintech innovation.
- Modernizing infrastructure: Fintech is essential to modernizing Azerbaijan’s financial services, making them more efficient and accessible.
- Global scalability: Fintech’s global potential helps local startups attract international investors and expand abroad.
“I worked with entrepreneurs focused on refining their business models and revenue streams. The participants showed great commitment to bringing their ideas to life, and the program supported them with tools to fast-track their progress. I was delighted to contribute to the evolving startup ecosystem in Azerbaijan!
A Bright Future for Azerbaijani Fintech
The Fintech Founders Club 13 was a significant milestone in Azerbaijan’s journey toward becoming a hub for fintech innovation. By attracting local and international mentors like Rita Katona, Sergio Borasino, Juan Alonso-Villalobos, Karlis Jonas, Sultan Abdullayev and Davide Coppola and connecting startups with global investors, we’ve built a solid foundation for future fintech innovation in Azerbaijan. The success of this cohort demonstrates that Azerbaijan is brimming with entrepreneurial talent and ambition.
Looking forward, we plan to strengthen our collaboration with SABAH.HUB and expand our efforts to attract even more international expertise and investment to Azerbaijan. Our goal is to build a sustainable startup ecosystem that empowers local entrepreneurs and connects them to the global fintech landscape.
Stay tuned for the next edition of the Fintech Founders Club, where we’ll continue shaping the future of entrepreneurship in Azerbaijan, one cohort at a time
