Discover Qazaqstan via News and Inspiring Stories
QazMonitor Logo
Facebook Qazmonitor iconInstagram Qazmonitor iconTiktok Qazmonitor iconTwitter Qazmonitor iconTelegram Qazmonitor iconYoutube Qazmonitor iconRSS
  1. Main Page
  2. News
  3. Astana Climbs 25 Spots in Global Startup Ecosystem Index
Astana, Kazakhstan • 17 January, 2024 | 16:39
2 min read

Astana Climbs 25 Spots in Global Startup Ecosystem Index

The capital secured first place in the regional ranking in 2023

QazMonitor Logo

According to the StartupBlink research center, Astana has shown rapid growth, rising 25 positions globally and achieving the top spot in the regional ranking, while Astana Hub was presented with the Best Startup Ecosystem award, QazMonitor reports citing the Ministry of Digital and Space.

Mahmod Shamsi, Head of Business Development at StartupBlink, emphasized that this award marks a milestone in the region's development. The capital's technology park, Astana Hub, played a pivotal role in this success by fostering a favorable environment for innovation and startup growth.

The research center evaluates the overall ranking of each startup ecosystem based on a total score, which is calculated by summing up three subscores for Quantity, Quality, and Business environment.

The Quantity Score gauges the level of activity within an ecosystem by assessing the participation and involvement of key players and stakeholders. It is calculated based on the number of startups, coworking spaces, accelerators, and meetups.

The Quality Score showcases the qualitative results achieved by an ecosystem, considering factors like traction, presence of strategic branches, multinational companies, private sector investment, number of employees per startup, Y Combinator-backed startups, global startup events, presence of unicorns, exits, pantheon companies, and global startup influencers.

The Business Environment Score highlights the difference between entrepreneurial activity (quantity and quality scores) and the effectiveness of governments in creating business conditions conducive to startup flourishing. This score is calculated based on various factors, including diversity index, Internet speed, Internet freedom, R&D investment, availability of technological services, cost of Internet, level of English proficiency, passport strength, availability of startup or nomad visas, corporate tax rate, startup-friendliness of labor laws, corruption perception index, and top universities per location.

StartupBlink's Global Startup Ecosystem Index, first published in 2017, is a ranking system that evaluates the success of startup ecosystems worldwide in 1,000 cities and 100 countries. The index compiles data from the StartupBlink map and partnerships with data providers such as CrunchBase, Semrush, MeetUp, and others.

Only 30% of an article published on The Qazaqstan Monitor website may be used with a mandatory hyperlink provided to indicate the original source. To re-publish the full article, written permission from the editorial is required.