The venture fund for early financing will open on the basis of the Astana International Financial Center (AIFC). Its creation is scheduled for 2018 as part of the joint project of the Government of Kazakhstan and the World Bank - "Stimulation of productive innovations". This was reported by representatives of the Science Committee of the Ministry of Education. It is planned that the fund will attract foreign investment for technological start-ups. The project itself is aimed at strengthening cooperation between scientific organizations and enterprises, developing the knowledge base of innovations.

BOLATBEK ABDRASILOV, CHAIRMAN, SCIENTIFIC COMMITTEE, KAZAKH MINISTRY OF EDUCATION AND SCIENCE:

- The basic component that forms the complete system of innovation development in Kazakhstan is the creation of an innovative observatory. We do not have a system that would allow us to monitor the development of our innovation system both at the country level and at the regional level. This observatory will create such a monitoring system.

The budget of the "Stimulation of productive innovations" project is $110 million with a period of 5 years. It is planned to involve international consultants in various areas.

 

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