SOCAR open to collaboration with startups offering ready-to-use products

The State Oil Company of Azerbaijan (SOCAR) does not consider direct investment in startups as its primary objective, SOCAR representative Teymur Aliyev said at the Eurasia Young Entrepreneurs Forum (EYBF2025) in Baku, organized by Young MUSIAD, Report informs.

According to him, the company is more interested in collaborating with startups that already have functional products: "If a startup has a ready and tested product, we are open to testing, evaluating, and implementing it. Startup teams are welcome to reach out to us. If the product creates value for SOCAR, we are ready to work together on its application."

Aliyev added that SOCAR is open to cooperation with startups and tech companies, and that several initiatives are already underway: "We are currently collaborating with many international and local companies. For a large organization like SOCAR, applying cutting-edge technologies in petrochemicals and other sectors is a top priority."