A key focus of the discussion was the transformation of the national AI ecosystem, which is creating new investment opportunities and an advanced infrastructure for startups. The panelists explored the significance of tech parks, accelerators, and venture funds in fostering a thriving AI business environment, as well as strategies for developing a highly skilled workforce and accelerating Kazakhstan’s digital transformation.

Aset Abdualiy ev, founder and CEO of Silkroad Innovation Hub (USA), highlighted that his fund has invested in 19 startups, collectively raising over $40 million. “We take great pride in seeing entrepreneurs from our region building successful AI startups that attract top-tier venture capital from the U.S. A standout example is Alma, a startup founded by two women from Kazakhstan and Kyrgyzstan—Asel and Aizada. They have already secured $6 million in VC funding and are generating $700,000–$800,000 in revenue within their first year. I firmly believe that the next unicorn startup from our region will be founded by a woman. We are witnessing a surge of highly educated, ambitious women in our region who are driving innovation,” he emphasized.

Nazgul Baitemirova, Chief of Staff at Astana Hub Ventures Ltd., referenced a study by Harvard Business School, which found that while only 0.5% of startups receive venture capital, 50% of those that go public have been backed by VC funds. Overall, 89% of successful startups have received some form of venture capital investment. In Kazakhstan, a $1 billion Venture Capital Fund of Funds has been established to support AI startups, with an initial $130 million already allocated. In 2024, Astana Hub Ventures was also launched to support startups from Kazakhstan, Central Asia, and beyond.

“The Qazaqstan Venture Group Fund of Funds will act as a major catalyst for innovation in Kazakhstan, diversifying investment strategies across VC funds, AI startups, and other high-potential sectors. This initiative will fuel the next wave of venture innovation, strengthen the country’s tech ecosystem, and accelerate technological progress and economic growth nationwide,” said Baitemirova.

Mohammed Ali Yusuf, CEO of Fuze, emphasized the rapid expansion of the AI sector: “The market has grown 20x, with new solutions emerging daily. AI is integrating into every industry, and its synergy with blockchain and crypto is amplifying its impact. We are witnessing an unprecedented surge in investments, with over $150 billion already funneled into AI-driven developments at the intersection of crypto, blockchain, and financial services,” he stated.

The discussion also featured insights from Aslan Sultanov, CEO of White Hill Capital, Tumar VC, and Al-Farabi Innovation Hub; Adam French, Partner at Antler VC; and Alim Khamitov, CEO and Founder of MOST Ventures. The session was moderated by Sanat Zholdykhan, Chairman of the Board at QazInnovations, Kazakhstan’s National Innovation Development Agency.