On May 9, an online seminar was held by the presentation of Isa Gasimov, chief specialist of the Entrepreneurship Development Fund of the Ministry of Economy of the Republic of Azerbaijan, Executive Director of the Center for Additional Education in Innovative Technologies in Education, on “Commercialization of science and startup approach in the process of higher education” to further develop innovative activities of Sumgayit State University faculty members.

The seminar was attended by faculty members, including vice-rectors, deans of faculties, heads of departments, doctoral students and PhD candidates.

Opening the seminar, vice-rector for Science and Innovations, Professor Ramazan Mammadov greeted the guests and participants, congratulated the staff on the Victory Day on May 9 and the 97th anniversary of national leader Heydar Aliyev on May 10. The vice-rector spoke about the exceptional historical services of the great leader Heydar Aliyev, the concept of building a democratic state, the great mission of salvation. He noted that today the people of Azerbaijan once again pay tribute to the memory of the great leader. Noting that national leader Heydar Aliyev always attached great importance to science and education, the vice-rector said that the ideas of the great leader were successfully implemented by President Ilham Aliyev.

Isa Gasimov, chief specialist of the Entrepreneurship Development Fund of the Ministry of Economy of the Republic of Azerbaijan, executive director of the Center for Additional Education in Innovative Technologies in Education, gave detailed information about himself. He notified that he is a graduate of training programs of the Indian Institute for Entrepreneurship Development (EDII), the South Korean Institute for Science and Technology Policy (STEPI), Stanford University's Center for Professional Development (USA) and various other organizations. Isa Gasimov said he had about 20 years of experience in the commercialization of higher education and science, as well as the formation and development of startups. The “New idea” startup competition and the “Smart Bridge” Science-Innovation-Business projects he founded are also activities based on local market resources. Isa Gasimov made a detailed presentation on "Commercialization of science and startup approach in the process of higher education." He provided extensive information on: 1. Severity of work; 2. One of the main points; 3. Needs - requirements – opportunities; 4. Human capital and changing conditions; 5. Market behavior and trends in different periods; 6. World economy; 7. The relationship between research and innovative entrepreneurship; 8. Potential risks in commercialization of science and the transfer of technology 9. What are the factors that hinder the development and application of your idea? 10. Technology transfer; 11. INC model (Korea); 12. The most accurate product on the market (Stanford University); 13. INC model and TPM; 14. The stages of development of formation of the startup. He noted that today science and education are one of the important factors ensuring the sustainable socio-economic and cultural development of the state. Emphasizing the role and importance of education and scientific and technical progress on the basis of sustainable development in modern times, he noted that in recent years the development of science in our country, preservation and modernization of scientific and technical potential and intellectual property, training of highly qualified personnel in science and education, a number of important decisions have been made in the field of increasing the prestige of scientists, and educators in the society and the promotion of scientific results obtained in Azerbaijan abroad.

Speaking about the importance of startup projects, the speaker said that they contribute to the development of innovative entrepreneurship approach among young people, the emergence of innovative ideas in the field of technology and its implementation. In this regard, the speakers spoke about the importance of startup projects, noting that the creation of business incubators in higher education is very important in terms of attracting staff to scientific and innovative projects, training young entrepreneurs.

The seminar went on with discussions, questions were answered.