Association of venture capitalists to appear in Kazakhstan

Business Materials 8 October 2018 17:43 (UTC +04:00)

Baku, Azerbaijan, Oct. 8

By Rashid Shirinov – Trend:

The first association of venture capitalists will be registered in Kazakhstan in the near future, Kazakh media reported.

"In July of this year we adopted the Law on Venture Financing. Now risky transactions are regulated by law and the interests of all parties are protected. The first association of venture capitalists in Kazakhstan will be opened soon,” Deputy Minister of Information and Communications Nurgul Mauberlinova said at a briefing in the Central Communications Service.

She added that much work is being done within the "Digital Kazakhstan" program, and in November the official presentation of the Astana Hub for international IT start-ups will be held. Mauberlinova also noted that the Astana Hub has already been launched.

The priority of the Astana Hub is the placement of laboratories and prototyping of R&D centers of domestic and foreign companies, she said.

The main mission of the Astana Hub is to develop a start-up culture and support high-tech projects for strengthening Kazakhstan's economy.

Astana Hub is being developed in close cooperation with the Kazakh Ministry of Information and Communications and Zerde National Information and Communications Holding as part of the "Digital Kazakhstan" program.

(373.71 KZT = 1 USD on October 8)