Kazakhstan to Commercialize Science Projects

Effective integration of science and business is the basis of innovative economic development. Authorities in Kazakhstan understood the principle very well; therefore new projects in the country are always supported. More than 450 local developers are successfully running businesses based on scientific inventions.

All of the business received special grants from the Science Fund. According to the spokesperson of the fund, over five billion Tenge are allocated annually for the commercialization of the local science developments.

“We are implementing a lot of projects in the fields of technology development, production of new food products, agriculture, biotechnology, metallurgy and information technology. More than 1,200 different specialists have been involved in the work, and more than a half of them are science representative who are on contractual terms with businessmen, and receive their recurring royalties from the implementation of their scientific developments,” said Director of Project Department of Science Fund, Kurmangazy Omarov.

Meanwhile, more than 150 science-based projects were supported by the state in three years while eight are successfully completed in Kazakhstan. Innovative developments are being implemented not only within the country but the products and services are also exported to foreign markets. The volume of export amounted to almost 14 million Tenge.

“I believe that the figure would increase in 2020. We are planning to increase it to five billion. First of all, we are exporting to the neighboring countries such as Russia, Uzbekistan, Kyrgyzstan, but we should not forget that we have a potential market in China for our products,” said Managing Director of Science Fund, Marat Pernekulov.

The Science Fund has been the operator of grant funding for scientific and technical projects in Kazakhstan since 2016. Its main goal is to develop and promote the commercialization of the latest local technological innovations as well as popularize the scientific developments.

Photо: science-fund.kz