Astana Hub International Technopark of IT Startups and MyVentures venture fund signed a memorandum of mutual cooperation

The Memorandum provides for joint work on improving the culture of venture investment, and in particular the exchange of knowledge and experience, mutual information support, expert support in the implementation of joint programs, cooperation on discussing key problematic issues of the venture investor community to improve investment activity in the market of Kazakhstan.

According to Magzhan Madiev, CEO of Astana Hub, cooperation will not only enable startups undergoing technopark programs to be among the projects under consideration for investment by MyVentures venture fund, but will also enhance the quality of projects that receive investments, due to the venture fund’s expertise in structuring and processing transactions .

“Astana Hub is the largest technology park in Central Asia, which contributes to the development of the IT ecosystem on an ongoing basis and for all categories of startups from the idea stage to the scaling stage. We will be happy to contribute to the development of the venture capital market together with such a partner,” commented Shahboz Rakhmanov, managing partner of the MyVentures venture fund, commented on the memorandum.

The signing of the memorandum took place as part of the Central Asian Venture Forum, a large-scale event for participants in the startup ecosystem held on June 9, 2022 in Almaty by the MOST Ventures venture fund and the UMAY Angels Club investors club together with the European Bank for Reconstruction and Development, the US Agency for International Development, venture MyVentures and Freedom Holding Corp.

The Astana Hub International Technopark of IT Startups was also a partner of the forum and exhibited on the alley for startups, advising all those interested on the support measures provided by the technopark. Also, within the alley for startups from Central Asian countries, such projects as One Vision, Beyne AI, Eco network, UvU, Cerebra, Dolon, IN VR, LOM, Fullo kz, Alaqan, Clokster, Connected Home were presented, which demonstrated advanced technologies and the possibilities of their projects.

Also at the CAVF forum, awards were presented for the best startups and business angels. In the ScaleUp of the Year nomination, Alexey Lee's Pinemelon startup, which successfully launched in the US in 2022, received the award. In the Deal of the Year nomination, AppBoxo, a startup with founders from Kyrgyzstan, received an award for attracting investments in the amount of $7 million. Olzhas Zhienkulov, CEO of Paladigm Capital Ltd and co-founder of the UMAY business angel club, became the most active angel. Murat Abdrakhmanov, a serial investor and co-founder of the UMAY business angels club, received the award in the Angel of the Year nomination.

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