Web Summit, which brought together more than 70,000 participants this year, provides startups, investors, and technology industry leaders with a platform for establishing new connections and collaboration. For Central Asian Innovation Hubs, participation in Web Summit was a chance to introduce the developing ecosystem of Central Asia to an international audience and highlight its potential for attracting investments and establishing new connections.

“We are committed to building a robust ecosystem for the growth of tech businesses and startups in Central Asia. Partnerships with global players such as Google for Startups, Draper University, Presight.AI, and Alchemist Accelerator provide our residents with unique opportunities, while our acceleration programs—Hero Training, Silkway Accelerator, and Scalerator—help entrepreneurs reach new heights. Startups in Central Asia are demonstrating impressive success: Citix became the first project from the region to secure investment from prominent American venture investor Tim Draper, achieving a valuation of $98 million. Similarly, Uzum received $114 million in funding, achieving unicorn status with a valuation of $1.16 billion. We are witnessing Central Asia evolve into a hub of innovation, poised to make a confident entry into international markets with highly competitive companies,” said Magzhan Madiyev, CEO of Astana Hub.

At Web Summit, Kazakhstan presented a number of startups, including Extrum Technologies (Oraclus), a developer of high-quality solutions based on web technologies, blockchain, and other advanced technologies; ZebraEye, an AI-powered software designed to diagnose rare eye diseases; ProsperPay Kazakhstan, a provider of Earned Wage Access services in Central Asia; Hired Valley, a platform designed to connect university students to employment opportunities; Foqus, an AI-powered platform providing applied analytics through specialized behavioral analysis across industries; Beyim Tech, an AI-powered learning platform that functions as a social network for personalized micro-education; and ESG Track, a monitoring platform that tracks sustainability, employee status, and financial performance.

Startups from Uzbekistan also attracted the attention of Web Summit participants. Among them are DATALAB LLC, offering solutions for data analytics, process optimization, and decision support; Sharh, an AI-powered customer feedback platform; iWatt, providing tools for smart energy management and sustainable practices; Finco, digital banking solutions such as microloans and e-wallets for underserved markets; Online Nurse, a telemedicine platform for virtual consultations with doctors; Paylov, a secure gateway for online payments; IMAN Global, a startup operating on the principles of Islamic finance; Cradle Vision Tech, automation solutions based on AI and machine learning.

“Central Asia is becoming an important player on the global tech scene, with huge potential to create new unicorns and develop a vibrant entrepreneurial environment,” said Farkhod Ibragimov, CEO of IT Park Uzbekistan. — Within the Central Asian Innovation Hubs, we aim to create opportunities that connect our ecosystem with global innovation leaders, incubators, accelerators, funds, and investors. These connections accelerate technology development in the region, attract investment, and open up new growth paths for tech entrepreneurs. We are laying the foundation for turning Central Asia into a global tech and innovation hub, providing access to the resources and support needed to compete globally.”

It should be noted that Central Asian Innovation Hubs, a joint initiative of Astana Hub and IT Park Uzbekistan, was created to promote and support startups from the region in the international arena. The cooperation, based on a memorandum signed within the framework of ICT WEEK Uzbekistan 2024, demonstrates the capabilities of two technology parks that have already participated under a single brand at such major events as InMerge in Baku, Central Asia at Silicon Valley, and TechCrunch Disrupt 2024 in San Francisco.