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Seed Money Program
Financial assistance to tech startups from Astana hub

Funding up to KZT 20 million

Applications are now accepted

Financing is provided according to the revenue share model

Obligation to pay 2% of project income

As part of the funding program

+1% - payment within 5 years after disbursement of funds

As a member of Astana Hub

+1% - payment of fees

100% the startup’s shares remain with the team

Source of financing

Financing of startups within the framework of Seed Money is provided from Astana Hub’s own funds.
Astana Hub participants receive broad support, including tax preferences. In return, technopark participants are required to contribute 1% of income to Astana Hub.
These funds are used for further development of the IT industry ecosystem. In particular, part of these funds will be used to finance startups under the Seed Money program.

What does Seed money provide besides financing

  • 01

    Free space in a coworking space and access to the Astana Hub infrastructure for startups from the regions

  • 02

    Expert advice and feedback from industry experts

  • 03

    Assistance in B2B/B2G meetings (on request)

  • 04

    Networking with investors and business angels

Minimum project requirements

01.

Grants

The recipient of funding must not be a recipient of government grants and have not previously received funding from the Foundation for the implementation of the project

02.

Team

The team must have at least 3 key members including the project manager. At the same time, the Project Manager must not combine the implementation of the project with other work activities.

03.

Be juridical person

The applicant must have a legal entity to further apply for Seed money

What types of startups can receive funding?

  • AI

    Project areas in the field of artificial intelligence may include the development of machine learning algorithms, natural language processing, computer vision, robotics, as well as the use of AI in medicine, finance, transport and other industries.

  • Blockchain

    Blockchain project areas may include the development of decentralized financial applications (DeFi), digital identity systems, smart contracts, asset tokenization, and supply chain security and transparency.

  • Defence Tech

    Defense Tech project areas may include military technology development, cybersecurity, unmanned systems, defense technologies, and security and defense analytics solutions.

  • Game dev

    Project areas in the GameDev field may include the development of computer games, virtual and augmented reality, the creation of game engines and development tools, as well as gaming platforms and online services for gamers.

  • Space Tech

    Project areas in the Space Tech field may include the development of various satellites, space transportation systems, the creation of innovative materials for spacecraft and the implementation of space missions for space exploration, as well as the development of infrastructure for space communications and Earth observations.

  • Hardware

    Project areas in the Hardware sector may include the development of innovative devices and components for electronics, smart gadgets, smart home systems, IoT devices, as well as technologies to improve the management of security systems.

  • Smart City

    Project areas in the field of Smart City may include the development of integrated urban infrastructure management systems, smart transport networks, energy-saving technologies, digital solutions for waste management, and improving the quality of life of the urban population through the use of innovative technologies.

До начала отбора осталось:

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A startup must go through one of three stages of development


01

Filing an application

Applicant submits an application with documents at Astana Hub platform

02

Application review

Experts review application in terms of compliance with requirements 

03

Listening to the presentation

Posting presentations of applicants to the Commission

04

Agreement signing

Receiver of Seed Money funds should enter into agreement

05

Escrow

Opening a deposit account in Freedom finance bank to transfer funds from the Fund for further development

06

Mastering

The beginning of the phased disbursement of funds by Escrow receipts

A startup must go through one of three stages of development

  • MVP

    minimum viable product is a product with minimal but sufficient functions to meet the needs of the first consumers

  • PMF

    product/market fit - availability of a product that meets the needs of a particular market and has value for consumers

  • SCALE

    the stage of scaling sales by expanding functionality and other activities

Documents for review

Memo

Description of step-by-step actions to obtain financing
Download

Funding rules

Detailed description of financing conditions for the Seed Money program
Download

Examples of documents

Примеры документов которые необходимо заполнить
Download

FAQ

Frequently Asked Questions

  • How to become Astana Hub participant?

    For more information please visit astanahub.com and open tab "Tax incentives". The main requirement is to carry out priority activities in sphere of information and communication technology.

  • Who can apply for funding?

     

  • What language to use in application?

    The application and the attached documents maybe submitted at the applicant’s choice in Kazakh or Russian or English language.

  • Who makes the decision to provide funding?

    All startups that meet the criteria provide a complete package of documents and are allowed to be heard before the Program Commission. The commission consists of independent industry experts and fund representatives. The Commission evaluates Projects in 4 areas: Project Team, Project Manufacturability, Scalability/Market Volume, Progress. Startups with the most points are eligible to receive funding.

  • Are Electronic Digital Signature (EDS) and individual identification number (IIN) required for an applicant to submit an application?

    In order toapply for funding it is required to have EDS and IIN for company's CEO

  • What counter-obligations are foreseen for projects that have received funding?

    1) payments in the amount of 2% of the project implementation income, where: 1% payout within 5 years of disbursement (under the funding program) +1% payout of fees (as an Astana Hub participant).
    2) targeted use of funds;
    3) submission of information on ongoing project and annual financial reporting within 5 years from the date of approval of the final report;
    4) not to encumber or sell property acquired under the financing program;
    5) not to purchase services/goods/works from third parties affiliated with the recipient of the financing;
    6) not to transfer the rights to use the results of the project to other legal entities/individuals, both during the period of the funding agreement and within 5 years after the approval of the final report;
    7) and other obligations stipulated in the contract.

  • What expenditures are covered by funding?

    1) Salary of the project team members, including taxes, fees, and other related obligatory payments
    2) Marketing and advertising expenses
    З) Purchase of components and (or) equipment necessary for implementation of the project
    4) Payment for services of third parties directly engaged in implementation of the project, except marketing services
    (no more than 50% of the all requested funds).

  • How to check the status of an application?

    The application status is updated in the applicant's personal account at the platform with the relevant notification.

  • When does the disbursement period begin?

    The period of disbursement begins starting from the moment when funds are transferred to escrow account, opened after signing the agreement on provision of financing. Funds are disbursed in stages according to the project shedule. The disbursement of funds under the 2nd and subsequent stages occurs after the approval of interim reports.

  • Can a startup early cancel its obligations to pay 1% after disbursing the funds?

    The startup has the right to early repurchase the obligation to pay 1% with an increase:

    +50% to the disbursed financing until the end of 3 years after approval of the final report;

    +100% to disbursed funding in the period from 4 to 5 years after approval of the final report.

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