About KZT 30 bn of investments attracted by IT startups for 2 years of work of Astana Hub

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Today, at the meeting of the Government, chaired by the Prime Minister of Kazakhstan Askar Mamin, the Minister of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan Askar Zhumagaliyev reported on the development of the information technology ecosystem, reports citing the Prime Minister’s press service.

Askar Zhumagaliyev said that since the opening of the Astana Hub international technology park in 2018, IT start-ups have attracted a total of about 29 billion tenge. The investment attractiveness and high level of interest in the programs of the techno-park are also proved by its workload. Now Astana Hub is 100% full, more than 260 projects have completed incubation and acceleration programs there - more than 1000 people.

For further research and educational support of start-ups in the techno-park, 16 R & D centers have been opened, representing such companies as CISCO, IBM, Huawei, Intellisense. Consultations, technical expertise, special equipment and software are available to innovators. Educational events are held on an ongoing basis for innovators. About 2500 attendees have already participated in 122 meetings.

An important component of the development of the innovation ecosystem implemented in the country is the law on venture financing. It provides support measures in the form of state co-financing of venture funds. The action of this law has already allowed the creation of the business angels club "QazAngels" and the support institute "QazTechVentures", which plans to launch two venture funds soon. At the same time, these investments today can be formalized in the jurisdiction of the International Financial Center "Astana" and governed by the principles of English law, which is the "gold" standard for the industry of risky investments.

The Minister of Digital Development, Innovation and Aerospace Industry noted that today there is a trend in the opening of IT hubs in the regions of the country with the support of local authorities.

"Given the growth dynamics of the ecosystem in the capital, we plan to work on transferring experience with startups to the regions of Kazakhstan," Zhumagaliyev said.

Joseph Ziegler, General Director of Astana Hub International Technology Park, noted that since the opening of Astana Hub, certain successes have been achieved in building a start-up ecosystem. Last year, Astana Hub became the No. 1 IT center in the country with more than 500 events held at its base, which were visited by over 20,000 people.
14:18, 25 June 2019


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