Kazakhstan’s start-ups attract attention of foreign investors

Kazakhstan’s start-ups attract attention of foreign investors

Foreign investors are increasingly paying attention to Kazakhstan’s startups. Following the results of the first Tech Garden festival, the developments of young innovators attracted 165 million tenge in investments. 700 tech start-up projects took part in the competition.

 

Pavel CHERKASHIN, MANAGING PARTNER OF VENTURE FUND:

There are a lot of advanced projects in the competition. Dozens of startups will surely receive millions of dollars of venture investors. They will be very successful. We will talk about the success story of Kazakhstan's start-ups in a few years. It is necessary to launch promising projects and then witness their success.  The question is how to benefit from these projects, so that by investing money in the small businesses, we will be able to create a significant share of the GDP.

 

Experts believe that developing technical education, as well as creating favorable environment in which ideas of young inventors will be supported and financed are important. When promoted, more ideas and innovative projects will appear. In addition, this will help create the necessary environment for technological progress.

 

Pavel CHERKASHIN, MANAGING PARTNER OF VENTURE FUND:

There are very interesting financial ideas, where we can connect people who have money in one part of the world with the people who need financing in the other part of the world. Technology related to artificial intelligence is also very attractive. If each user has a mobile phone with the computing power of the NASA center, then why not take advantage of the computing power to help a person not just waste time playing games or making calls, but giving advice or providing training.

 

Tech Fest was held as part of the innovative policy of the Kazakh Ministry of Industry and New Technologies. The ministry is planning to set up five major technology centers in Almaty in such areas as ‘smart industry and infrastructure’, ‘E-commerce’ and ‘New Media’.

 

 

Photo: www.voxpopuli.kz


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