How to get funding for a startup in Kazakhstan?
Financing a startup is one of the important problems for any entrepreneur, which always remains relevant. Startups and IT companies in Kazakhstan have the opportunity to raise funding in various ways: directly from investment funds, organizations and through participation in various programs.
Astana Hub International Technopark of IT Startups, located in the capital of Kazakhstan, for its part, also provides a number of opportunities for both start-ups and already developed companies. The technopark regularly hosts an event called Invest Day, which brings together the best startup projects, leading business angels and venture funds from both Kazakhstan and foreign countries. In 2021, the technopark held 6 events, where startups from Kazakhstan, Uzbekistan, Kyrgyzstan, Russia, Ukraine, Belarus, Lithuania, South Korea, Switzerland and the UK took part. These meetings were attended by venture investors from Kazakhstan, Russia, Kyrgyzstan, Ukraine, Azerbaijan, Great Britain, the Netherlands, UAE, Saudi Arabia, Singapore, Indonesia and Finland.
In addition, since 2021, the technopark has been financing the most promising projects under the Seed Money program in the amount of $5,000 to $20,000. To receive funding, you need to pass a competitive selection and become a member of Astana Hub. IT startups from Kazakhstan, the CIS and around the world at different stages can apply for funding: from MVP to Scale. It should be noted that funding is provided by fees from the participants of the Astana Hub tax regime.
As part of the Digital Bridge international forum, the Astana Hub Battle startup battle is held annually, where the 10 best participants from hundreds of candidates compete for checks for a total of $18,000.
Also, it is worth mentioning that Astana Hub partners, such as Qazinnovations, Quest Ventures, Qaztech Ventures, Most Ventures and others, regularly support Kazakhstani startups: these are grants and investments in startup projects. In 2021 alone, the participants of the Astana Hub attracted a total of more than 67 billion tenge of funding, which is a record figure for the entire existence of the Technopark. For example, in November last year, our participant, the "CTOgram" startup - a single centralized system for quickly finding service stations - raised $ 700,000 from international institutional investors, in December three large construction companies invested in the Proportunity.kz platform at once, and the 1Fit service attracted half a million dollars for scaling in Russia.