Azerbaijan’s innovation ecosystem is transforming with the establishment of venture capital funds, signaling its emergence as a regional innovation hub. The country will launch its third fund, developed in collaboration with White Hill Capital, aiming to manage $15 million in assets to support local startups and attract investments. This follows the successful launches of Caucasus Ventures and INMerge Ventures, which target high-potential startups in various sectors. These funds are pivotal in fostering a knowledge-based economy, providing essential financial backing for entrepreneurs, and enhancing Azerbaijan’s status in the global innovation landscape. The future looks promising for the startup ecosystem.