Azerbaijan 500

ASAN Startup Program

Frequently Asked Questions

Q. What are the criteria to participate in the Program?

A. The initial Startup Fundamentals series, or Phase 0, is open to all eligible individuals who sign up. Individuals must meet the following criteria:

  • Must be based in Azerbaijan
  • Must not be the owner of any active business entity (sole proprietorship is permissible)
  • Should not be under any form of employment (freelancers and individuals who currently have a sole proprietorship incorporated are permissible)
  • Able to meet English language proficiency requirements
  • Able to commit full-time to the program for 6 months
  • Able to commit full-time should the start-up take off after the 6-month program

In order to be eligible to continue on to the Team Formation portion of the program, applicants must attend all lectures in the Startup Fundamentals series and complete the assignments. In selecting participants, we will take into consideration factors such as aptitude, expertise, background, and related experience of the applicant.

 

Q. As an individual, must I have a business plan to participate in the program?

A. No. This program is for aspiring entrepreneurs who may not yet have fully developed entrepreneurial skills, viable business plans, and/or ideas. This program will provide participants with the training and coaching needed to take an idea and develop, launch, and scale a business plan.

 

Q. Can foreigners apply for the program?

A. Yes, foreigners may apply for the program as long as they are based in Azerbaijan.

 

Q. I have previously registered a company. Do I qualify?

A. The applicant’s business entity should not have been registered or incorporated for more than 6 months at the point of application to the Azerbaijan 500 ASAN Startup Program. If your business entity has been registered for more than 6 months or you have more than one business entity registered under your name, you will not be eligible. This program is designed for first-time entrepreneurs only.

 

Q. What if I have founded a company from a long time ago – am I still considered a first-time entrepreneur?

A. We’ll be assessing applications with such scenarios on a case-by-case basis, acknowledging that there may be entrepreneurs who have started and ceased operating a company, and are looking for a second chance to start a successful venture.

 

Q. What if I am already operating as a sole proprietor?

A. You will still be eligible if you are a sole proprietor, provided that you can be committed to the Azerbaijan 500 ASAN Startup Program full-time.

 

Q. Am I eligible for the program if I have started a business entity (LLC/Pte Ltd) before but am no longer working on it?

A. You will be eligible if you meet the following criteria:

  • Business entity that has ceased operation; and EITHER
  • Participant’s role in previous business entity should be dormant and non-active; OR
  • Business entities should be non-commercially viable/non-revenue generating.

Q. Will I receive investment if I enroll in the program?

A. No, there is no guaranteed funding attached to this program.

 

Q. Do I have to be in Baku during the entire period of the program?

A. No, you don’t. The program is fully remote and participants will be able to participate in all the program activities online.

 

Q. What if I already have an existing MVP?

A. This program is focused on supporting first-time entrepreneurs who need to build the foundations to start a business. If you are already in business, it is likely that this course is not the best fit for your stage.

 

Q. How much time will I need to commit each week?

A. During Phase 0, live sessions will be held once or twice a week. For Phases 1-3, the online course will be divided into 10-30 minute modules with follow up workbook exercises. The courses will be self-paced and complemented by live weekly sessions. You’ll be expected to attend all live sessions and submit all the homework.

 

Q. What language will the program be in?

A. The program is 100% English, including all videos, assignments, and communication.

 

Q. What is the program timeline?

A. The program starts on March 29, 2021 and runs through August 20, 2021. The online courses are self-paced, but must be completed within the given timeframe for that phase. The dates for each program phase are as follows:

  • Phase 0: March 29 – May 7, 2021
  • Phase 1: May 10 – June 11, 2021
  • Phase 2: June 14 – July 9, 2021
  • Phase 3: July 12 – August 20, 2021

 

Q. How do I register for the program?

A. You need to apply via the program website. The deadline to sign up is March 19th, 2021.

 

Q. How many applicants are going to be selected?

A. The Startup Fundamentals series is open to all eligible individuals who apply. After the series is complete, 50 participants will be selected to participate in the Team Formation activities.

After the Startup Fundamentals + Team Formation phases, teams will be selected based on their performance to participate in the subsequent phases of the program:

  • Phase 1: 18-25 teams (50 participants)
  • Phase 2-3: 10 teams (16-20 participants)

 

Q. Do I get a certificate upon graduation?

A. Yes, teams completing the full 3 phases of the program will receive a signed certificate upon successful completion of all program components.

Have another question? Email us:  azerbaijan500asan@500startups.com