“I would like to emphasize that Kazakhstan already has experience in growing startups. For example, five years ago we launched Astana Hub, which has become one of the leading technology parks in the Central Asian region. We have also engaged global partners such as Google, Draper University, StartX, Microsoft, and the World Bank, providing access to the best cutting-edge solutions. I believe that the establishment of the hub will bolster ties between Kazakhstan and Saudi Arabia, fostering substantial economic development,” stated Minister Bagdat Mussin.

Target KPIs are to grow at least three unicorns, attract at least $300 million to startups and export over $1 billion of services within 5 years.

“Al-Farabi Innovation Hub will complement the infrastructure of the venture industry in Kazakhstan, giving startups from Central Asia and the Caucasus the opportunity to expand into the MENA market, which compromise almost 493 million people. We express our gratitude to Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan (MDDIAI), represented by the Minister Bagdat Mussin, for the support provided to us. We also thank Astana Hub and, of course, our Saudi partners,” said General Director of Al-Farabi Innovation Hub, Aslan Sultanov.

Learn more on MDDIAI website