IT Startups in Kazakhstan

Development of startups is the main focus in Kazakhstan. Work on supporting innovative projects is conducted as part of the Plan of the Nation, a series of social reforms and incentives introduced by Kazakh President, Nursultan Nazarbayev. A separate platform for the startup project was opened in Kazakhstan Stock Exchange (KASE). Both private investors and private equity funds can participate in the KASE Startup platform. The businesses are successful and in compliance with the requirements of the stock exchange. In addition, the enterprises are ready to attract large investors by showcasing their IT developments, financial technologies and energy systems.

YEVGENIY MUKHAMETZHANOV, MANAGING DIRECTOR, KASE:

 - We see that there is interest from both sides. 60 users have already registered. Out of these, 50 applications are from startup companies while 10 are investors. We have begun to accredit the first start-ups companies. Four projects have entered our platform. We see that there are projects at a higher level. The average amount of requested funds among these enterprises is estimated at nearly 80 million tenge.

As part of the Silk Road program, Kazakh inventors presented their unique business plans to 17 Chinese technology companies. Foreign entrepreneurs were familiarized with the best projects implemented with the support of the innovative technologies park.

ASKAR SEMBIN, SPOKESPERSON, PARK OF INNOVATIVE TECHNOLOGIES:

 - On July 2nd to 3rd, Astana will host the Global Silk Road forum. We are interested in China's advancement in setting the environmental standards and sustainability.  They have a well-developed program on electric vehicles and improving the quality of life. We see that it is already impossible to breathe in Chinese cities. Speaking of our needs, we also have local problems such as traffic jams, long construction and large operating costs. These are the aspects which China is struggling with today and has a state program for them. In this regard, we would like to learn from their experience.

Support for IT startups is conducted in the regions of the country. For example, the startup center helps young entrepreneurs to launch various projects in Petropavlosk.  Innovators can use the resource center of robotics in order to receive necessary consultation and support. Services are free of charge. According to representatives of the company for development of information systems, there are currently not enough IT specialists in Kazakhstan. Creation of the center will help to partially solve this problem as well as increase the number of innovative projects.                 

ANTON YUSICHEV, IT SPECIALIST:

 - We have a great need for IT solutions in the region. Digital transformation of Kazakhstan is underway. Solutions either foreign or developed in other regions of Kazakhstan are brought here with a high price. We want to develop the projects that will be available in our region and institutions.

Approximately 50 promising and innovating Kazakh and international projects have been selected under the Startup Kazakhstan program. Each of the projects has been financed. In total, nearly 500 innovative enterprises will be financed until 2020.