Experts discuss ecosystem of venture capital in CIS during Astana Finance Days
During today’s Astana Finance Days online conference, experts discussed how the pandemic will affect the venture capital market and what are the prospects for its further growth. Representatives of venture funds, associations and investors from Kazakhstan, Central Asian countries and Russia took part in the discussion of the global economic issues. They said that startup market in Kazakhstan is at an early stage of development. Acceleration programs such as AIFC Fintech hub, Astana hub and TechGarden are already successfully operating here. Astana International Financial Centre provides additional incentives for market growth.
“Jurisdiction of AIFC is only emerging, but principles incorporated are of advanced level for the Commonwealth of Independent States. Perhaps this is the best structure in the CIS,” said Alexey Girin, co-founder and general partner at Starta Ventures.
Participants said that the market for startup ideas and projects in the CIS countries is not quite developed yet. It has to enter the world markets such as the United Kingdom, the United States and China to become a major corporate player.