The Business Year

Farid Ismayilzada

Founder & CEO, GoldenPay

SEE OPPORTUNITY

In Europe, the US, or developed countries such as Japan and South Korea, the IT sector is very developed. Azerbaijan is a developing country in that sense, and I see that distance as a business opportunity.

STARTING POINT

Declaring 2013 the “Year of ICT“ creates more awareness about the sector and will result in the launch of many projects related to the industry. For GoldenPay, it means we are inspired to embark on an extraordinary project this year.

HORIZONTAL EXPANSION

Starting in 2014, we will look to expand to similarly sized countries such as Georgia, Uzbekistan, or Belarus. Basically, we want to make sure that citizens’ online needs are properly managed so that they can take care of almost everything online.

Teymur Kuseba

Founder, RA Elektronika

WORLDWIDE TARGET

Everybody who uses mobile devices can purchase our products, as they are designed for compatibility with mobile phones, MP3 players, cameras, and tablets. We plan to sell our products worldwide.

NO COMPETITION

We have no competition because our charger is unique in that it is powered by kinetic and heat energy. There is also no brand loyalty with chargers and people generally choose quality, innovation, and portability over brand when purchasing.

HELP IS COMING

Azerbaijan needs to come up with a better policy for startups. Recently, the President emphasized the potential of the ICT sector and the Ministry of Communications of Information Technologies has announced that there will be an ICT Fund to support growth in the sector.

Alex Apetrei

CEO, Alex Apetrei

FOR ALMOST ANYONE

The services and products we have on our website are available to everyone, whether you are going to a restaurant or the cinema, or going on a trip in Azerbaijan or abroad. Almost anyone can benefit from a 50%-80% discount.

MAIN MOTIVE

In 2012, we expanded to Kyrgyzstan and Azerbaijan. The main motivation for being here in Azerbaijan is because there is great opportunity to provide better services and better access to those services from a financial perspective.

A FEW SUGGESTIONS

Around half of the population of Azerbaijan is under 30 years old, but there is only about 10% internet penetration. There are a lot of young people that can have access and can be integrated into internet culture.

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