5th Islamic Development Bank (IsDB) Group Startups & Innovation Pitch Competition 2026 Concludes in Baku, Honoring Nine Exceptional Startup Winners
The Islamic Development Bank (IsDB) Group recently wrapped up its 5th Startups & Innovation Pitch Competition 2026 during the Annual Meetings and Private Sector Forum held in Baku, Azerbaijan. This event is significant not only for its recognition of innovative startups but also for its broader implications in the realms of finance, technology, and entrepreneurship within the Organization of Islamic Cooperation (OIC) markets.
A Platform for Innovation
Under the theme “Empowering Innovation, AI, Finance, Trade, and Entrepreneurship Across OIC Markets,” the competition served as a convergence point for entrepreneurs, investors, policymakers, and development partners. It aimed to showcase solutions that address pressing development challenges faced by member countries. The event attracted over 220 startup applications across six strategic innovation tracks, including Artificial Intelligence & Deep Tech, AgriTech & Food Security, FinTech & Cybersecurity, Sustainability & Climate, Supply Chain & Smart Cities, and Human Development & Health.
The rigorous selection process led to a three-day Bootcamp in Baku, where shortlisted startups received mentorship and training in investment readiness and pitch coaching from both local and international experts. This preparation was crucial for the startups as they aimed to present their innovations effectively.
The Global Demo Day
The competition culminated in the Global Demo Day, where twelve finalist startups showcased their innovations to an international jury composed of representatives from government institutions, development organizations, venture capital firms, and entrepreneurship networks. This platform not only highlighted the startups’ innovative solutions but also emphasized the importance of collaboration among various stakeholders in the innovation ecosystem.
After careful deliberation, the jury recognized three outstanding startups for their exceptional contributions across key sectors.
Award Winners
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First Place Champion: The award went to BIOSHELL, represented by Mr. Gurban Davudov, in the Sustainability, Climate & Infrastructure track. BIOSHELL’s innovative approach to sustainable development and environmental resilience set it apart from its competitors.
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Second Place Champion: Bayuti, represented by Mr. Anouar Adham, earned this distinction in the FinTech, Digital Payments & Cybersecurity track. The startup impressed the jury with its forward-thinking financial solutions aimed at enhancing secure digital ecosystems.
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Third Place Champion: Park Hub Baku, represented by Mr. Orman Sultany, was recognized in the Supply Chain & Smart Cities track for its cutting-edge solutions that address urban mobility and smart infrastructure challenges.
These winners exemplify the transformative potential of technology-driven solutions across diverse industries, particularly in the context of cybersecurity, where innovative approaches are increasingly vital.
Track Laureates
In addition to the main awards, six startups were honored as Track Laureates:
- AIRT – Artificial Intelligence & Deep Tech
- Smart Sagro – AgriTech & Food Security
- Derad Network – Supply Chain & Smart Cities
- Climasel – Sustainability, Climate & Infrastructure
- Proedia – Human Development, Health & Social Services
- Mink Platform – FinTech, Digital Payments & Cybersecurity
The recognition of these startups underscores the importance of fostering innovation across various sectors, particularly in areas that intersect with cybersecurity and digital finance.
Significance of the Competition
The awards ceremony was attended by senior leadership from the IsDB Group, representatives of the Government of Azerbaijan, development partners, investors, and key stakeholders from the innovation ecosystem. This gathering highlighted the collaborative effort required to promote innovation-driven growth and strengthen entrepreneurial ecosystems within member countries.
The competition is part of the IsDB Group’s broader commitment to supporting youth-led enterprises and fostering regional collaboration. Through the IsDB Group Startups & Innovation Platform, entrepreneurs gain access to mentorship, strategic partnerships, investment opportunities, and international market exposure.
As innovation continues to play a crucial role in economic transformation, the IsDB Group remains dedicated to empowering the next generation of innovators and supporting sustainable and inclusive development across the OIC region.
About the IsDB Group Startups & Innovation Pitch Competition
The IsDB Group Startups & Innovation Pitch Competition is a flagship initiative designed to identify, support, and accelerate high-potential startups across IsDB Member Countries. This competition provides entrepreneurs with opportunities to access technical support, capacity-building, investment networks, and global visibility, while promoting innovation as a driver of sustainable development and economic growth.
Source: www.zawya.com
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