How the Theory of Exponential Growth Shaped Astana Hub: A Comprehensive Interview with Magzhan Madiyev
In an exclusive interview with Digital Business, Magzhan Madiyev shared the story behind the creation of Astana Hub, the inspiration for the concept, and how the proposal was presented to Kazakhstan's top leadership. He also explained why the IT hub was established in the capital rather than in Almaty, recalling the early coworking spaces on the right bank that started it all, along with the first residents who sparked exponential growth.
“This year, the total revenue of our residents will exceed $1 billion.”
Over the past five years, Astana Hub has achieved remarkable growth. Magzhan Madiyev shares the figures:
- In 2019, the hub had approximately 300 residents with a gross income of 15 billion tenge. Last year closed with 1,400 residents generating 400 billion tenge in revenue. By the first half of 2024, he projects that the total revenue of residents will reach 550 billion tenge—over $1 billion, demonstrating exponential growth.
We need to build an ecosystem for developing artificial intelligence and fundamentally improve venture funding, as our sector is significantly underfunded. It is also essential to foster human capital development. Both private and public educational systems must operate effectively.
For more details, visit the Digital Business website.
Photo: Digital Business
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