Astana Hub Launches Its Venture Fund

Astana Hub, the leading technology park in Central Eurasia, announces the launch of its new venture fund, Astana Hub Ventures. The fund's primary goal is to create a unicorn by forming a portfolio of 20 promising startups.

“Astana Hub Ventures marks a significant milestone in the development of the Central Eurasian ecosystem. With the support of MDDIAI, Astana Hub has paved the way for technological talent development from various regions of Kazakhstan to Silicon Valley. In 2023 alone, our 1,450 IT companies generated 400 billion tenge in revenue, a 33-fold increase over the past five years,” noted Magzhan Madiyev, CEO of Astana Hub.

The Head of State has tasked the government with increasing IT export volume to 1 billion US dollars by 2026. The new venture fund will bolster support for exports and the global expansion of Kazakhstani IT products. Additionally, it will provide Kazakh startups with not only financing but also access to international markets, accelerating their growth and development.

“Our mission goes beyond just investing funds. We aim to provide mentoring and consulting support, leveraging our global partner network to help startups attract investments from foreign venture funds, scale up, and compete successfully on the world stage,” added Magzhan Madiyev. 

Astana Hub offers comprehensive support to startups, from their inception to scaling up in international markets. Currently, 1,493 IT companies are registered in the technology park, including 408 with foreign participation. Astana Hub also runs several successful incubation and acceleration programs aimed at promoting startups in Central Eurasia. These include the Silkway Accelerator and Hero Training, joint programs with Google for Startups and Draper University.

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Wow, Congratulations! ⚡