New Opportunities for Startups: Astana Hub and CoCoon Ignite Ventures Enter into a Memorandum

Astana Hub, the international technology park, hosted a delegation from China and Hong Kong. The meeting aimed to strengthen international cooperation and support innovative projects.

The visit included a tour of Astana Hub, presentations on the technology park's activities and achievements, and the signing of a memorandum of cooperation. The event was attended by over 70 participants, including high-ranking government officials, representatives of technology parks, the business community, and investors from China and Hong Kong.

The highlight of the visit was the signing of a memorandum with Hong Kong venture fund CoCoon Ignite Ventures. This partnership, which began at the Digital Bridge 2023 event where CoCoon Ignite Ventures participated in the Google for Startups Summit, promises mutual cooperation. It includes participation in events organized by both parties, investment opportunities for Astana Hub startups, and the promotion of IT services and products for export. This agreement opens new avenues for supporting startups and strengthens our international presence.

In March 2024, Kazakh startups presented their projects to CoCoon Ignite Ventures representatives, aiming to attract investments ranging from $50,000 to $100,000, with potential increases up to $500,000. The fund is particularly interested in B2B technology startups, including those in artificial intelligence, data analytics, data management and storage, software, and robotics.

About CoCoon Ignite Ventures

CoCoon Ignite Ventures is a venture capital fund that invests in early-stage B2B technology startups. Launched in 2012 in Hong Kong, the fund supports companies creating and selling products and services for a future economy based on communities and asset-free markets. To date, the fund has invested in more than 15 projects.

About Astana Hub

Astana Hub is the largest technology park in Central Asia, dedicated to creating and developing an ecosystem for IT business, training IT specialists, and supporting startup projects. Currently, about 1,500 IT companies are registered at the park, including over 400 with foreign participation. These companies receive comprehensive support, including business development and scaling programs, special tax and visa conditions, informational and educational support, and material infrastructure.

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