Kazakhstani IT startups will be accelerated by the world leader from Silicon Valley Plug and Play
Astana Hub, Transtelecom and Plug and Play Kazakhstan signed a Memorandum of Understanding at the Digital Bridge 2021 International Forum.
The parties intend to strengthen and develop friendly relations in the field of developing the startup ecosystem, attracting investments, creating and conducting acceleration programs, building capacity and training talents.
"Today, society recognizes the importance of developing the startup ecosystem as a factor of economic development. We are convinced of the need for long-term and effective cooperation in the interests of our companies and the community, and we believe that it will contribute to strengthening the development of the startup ecosystem of Kazakhstan," said Sanjar Taromi, country representative of Plug and Play Kazakhstan.
Within the framework of cooperation, Astana Hub and Transtelecom JSC are launching a corporate accelerator from Plug and Play Kazakhstan. 20 IT startups will be able to pump up skills under the mentorship of experts from Silicon Valley, determine the product market-fit, attract investment, as well as launch a pilot with a large corporation and be placed on the Playbook Plug and Play platform.
IT teams from all over the world will take part in the accelerator, so Kazakhstani companies will interact with teams from other countries.
"One of the main tasks of a startup after launch is to survive and make the product in demand on the market. How not to become the story of one day, but to become a legend like Google, PayPal or Dropbox? No one will tell you about it better than the company that created these legends — Plug and Play. With the support of the Ministry of Digital Development, Innovation and Aerospace Industry, within the framework of our cooperation with Transtelecom JSC and Plug and Play Kazakhstan, we will continue to increase the potential of young IT companies," explains Magzhan Madiyev, CEO of Astana Hub.
Participants of the startup ecosystem will also have access to joint events, training programs, accelerators and trainings of the regional representation.
Plug and Play Tech Center is the world's largest accelerator and investor headquartered in Silicon Valley. Their platform unites more than 40,000 startups, more than 500 of the world's leading corporations, including universities and government agencies, as well as more than 300 venture funds, universities and government agencies. Every year, Plug and Play invests from $25,000 to $500,000 in startups around the world.
The international technology forum Digital Bridge is being held with the support of Kazakhtelecom JSC, BTS Digital, Tengizchevroil and Transtelecom companies.