Baku, Azerbaijan
+994558356538
sayhi@socialinnovationlab.az

Innovation Academy FAQ

Educate. Inspire. Innovate.

General 

1. What is the required commitment from the participants?
Participants with a willingness to commit to the program and be present and active in every session.

2. Will participants be required to pay any fees or give up any equity by undergoing the Innovation Academy?
No, your startup will not be required to pay any amount of fees or participate in equity sharing for the Innovation Academy.

3. What else does the program provide for participants (e.g., investment, resources, seed fund?)
The program will provide participants with all training and workshop materials in terms of resources. We will also nominate the best performing three startups to participate in the international Acceleration Programs by Social Innovation Lab.

4. How long is the duration of the program and what will happen after the program?
The program runs for 5-10 weeks. Participants will be able to participate in our Acceleration Programs and through that connect with our partners in more than 40 countries as well as have opportunity to gain international exposure and experience through our guidance and nominations.

5. What will the program look like for the participants who are attending the Innovation Academy?
Generally, participants will undergo training/coaching sessions and workshops regularly once or twice a week. Participants will also be heavily involved in peer to peer learning as well as action learning to grow and develop their ideas.

6. Do we need to have an establishment/setup/ventures already before applying for the Innovation Academy?
No, you are not necessarily required to set up a company at this stage. However a strong and clear objective on a valid problem will be an advantage for your enterprise to be selected for the program.

7. Can we join the Innovation Academy without being in physically present?
No. Participants are required to be fully committed to the whole duration of the Innovation Academy and attend workshops and mentorship sessions.

Innovation Academy Specific

1. What is the Innovation Academy?
The Innovation Academy is designed for aspiring entrepreneurs to grow and realise their ideas. Aspiring/Existing entrepreneurs run through a series of intensive workshops and classes in order to transform ideas into scalable, impactful and structured actions.

2. What is the objective of the Innovation Academy?
The objective of the program is to build capabilities, connections and skills to help aspiring entrepreneurs create communal impact while generating business revenues in order to ultimately become self-sustainable.

3. What are the benefits of participating in the Innovation Academy?
Participants of this program:

  • Gain industry insights and expertise to help them plan and build their enterprises.
  • Develop key skills from experts to launch and grow their enterprises.
  • Build deep relationships with industry experts and influencers to enrich their entrepreneurial journey.
  • Well performing startup will have opportunity of being nominated to Social Innovation Lab to be participant of our international Acceleration Programs.

4. What topics will be covered in the program?
The program includes modern tools and techniques that are essential in startup development and have been used by majority of successful startups. More information can be found in the program curriculum.

5. Will the program include any practical session?
Yes. Participants will practically use crucial tools and techniques to develop their startup ideas throughout the program.

Eligibility

1. We have been working on our startup for a while. Is the Innovation Academy still suitable for us?
As long as you have an early stage product, service or even an idea you are most welcome to submit an application.

2. Can a single founder, submit an application into the Innovation Academy?
Yes! All applicants must be at 16-25 years of age at time of application.

3. Is it necessary to have a completed business plan to enter an application for the Innovation Academy?
No. Although it is essential to have a clear business objectives for the piloted idea, you can still apply without having a business plan.

4. Is it possible to apply for more than one startup at the same time?
Unfortunately no, an applicant can only represent one entity/submit one application for the Innovation Academy.

5. What type of entrepreneurs is the Innovation Academy looking for?
We generally accept all applications that are looking to pilot a product, service or an idea in its early stages.