Discover Qazaqstan via News and Inspiring Stories
QazMonitor Logo
Facebook Qazmonitor iconInstagram Qazmonitor iconTiktok Qazmonitor iconTwitter Qazmonitor iconTelegram Qazmonitor iconYoutube Qazmonitor icon
  1. Main Page
  2. News
  3. Astana Hub to Create Kazakh Unicorn With New Venture Fund
  1. News
  2. News
Astana, Kazakhstan • 17 May, 2024 | 09:49
1 min read

Astana Hub to Create Kazakh Unicorn With New Venture Fund

The fund will leverage its established network of global partners to open international markets to local startups

QazMonitor Logo

On May 16, Astana Hub announced the creation of its own venture fund. Astana Hub Ventures aims at nurturing twenty promising startups, with the goal of creating a unicorn, QazMonitor reports.

Fund: Astana Hub Ventures will support the export of IT products and open international market opportunities for local startups, accelerating their growth and development. This initiative aims to boost Kazakh IT exports to $1 billion by 2026.

Our task is not just to invest, but also to provide mentoring and advisory support, to use all the opportunities of our network of global partners so that startups can attract investment from foreign venture funds, scale up, and successfully compete on the world stage.

stressed Magzhan Madiyev, CEO of Astana Hub.

To date, 1,493 IT startups have been registered in the Hub, including 408 with foreign participation. The Hub successfully operates several incubation and accelerator programs aimed at promoting startups in Central Asia, the Caucasus, and Mongolia. These include joint initiatives with Google for Startups and Draper University, such as the Silkway Accelerator and Hero Training programs.

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.