BAKU, Azerbaijan, June 20, 2026/APO Group/ —
The Islamic Development Bank (IsDB) Group (www.IsDB.org) successfully concluded the 5th IsDB Group Startups & Innovation Pitch Competition 2026 during the IsDB Group Annual Meetings and Private Sector Forum held in Baku, Azerbaijan.
Organized under the theme “Empowering Innovation, AI, Finance, Trade, and Entrepreneurship Across OIC Markets”, the competition brought together entrepreneurs, innovators, investors, policymakers, and development partners from across IsDB Member Countries to showcase innovative solutions addressing key development challenges.
The 2026 edition attracted more than 220 startup applications across six strategic innovation tracks: Artificial Intelligence & Deep Tech, AgriTech & Food Security, FinTech & Cybersecurity, Sustainability & Climate, Supply Chain & Smart Cities, and Human Development & Health. Following a rigorous evaluation process, selected startups participated in a three-day Bootcamp in Baku, receiving mentorship, investment-readiness training, and pitch coaching from leading local and international experts.
The competition culminated in the Global Demo Day, where twelve finalist startups presented their innovations before an international jury comprising representatives from government institutions, development organizations, venture capital firms, and entrepreneurship networks.
Following the jury’s deliberations, the competition concluded with the recognition of three outstanding startups, each demonstrating exceptional innovation and impact across key strategic sectors.
The First Place Champion award was granted to BIOSHELL, represented by Mr. Gurban Davudov, in the Sustainability, Climate & Infrastructure track. BIOSHELL was recognized for its innovative approach and strong potential to contribute to sustainable development and environmental resilience.
The Second Place Champion distinction was awarded to Bayuti, represented by Mr. Anouar Adham, under the FinTech, Digital Payments & Cybersecurity track. Bayuti impressed the jury with its forward-thinking financial solutions and commitment to advancing secure digital ecosystems.
The Third Place Champion honoured went to Park Hub Baku, represented by Mr. Orman Sultany, competing in the Supply Chain & Smart Cities track. The startup was acknowledged for its cutting-edge solutions addressing urban mobility and smart infrastructure challenges.
These winning startups exemplify innovation, entrepreneurial excellence, and the transformative potential of technology-driven solutions across diverse industries.
In addition, The six startups were recognized 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 winners were honored during an official Awards Ceremony attended by senior IsDB Group leadership, representatives of the Government of Azerbaijan, development partners, investors, and key stakeholders from the innovation ecosystem.
The competition forms part of the IsDB Group’s broader commitment to promoting innovation-driven growth, strengthening entrepreneurial ecosystems, supporting youth-led enterprises, and fostering regional collaboration across Member Countries.
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 an increasingly important role in economic transformation, the IsDB Group remains committed 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. 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.
