Singapore’s leading venture fund talks cooperating with Kazakhstan (Exclusive)
BAKU, Azerbaijan, Nov.8
By Nargiz Sadikhova – Trend:
The agreement signed between Kazakhstan’s QazTech Ventures JSC and Singapore’s Quest Ventures brings both regions closer in terms of economic cooperation, managing partner of Quest Ventures James Tan told Trend.
On October 26, 2019 memorandum of cooperation was signed between the two sides.
According to Tan, the memorandum is comprehensive in terms of support for early stage startups. It oversees investments to support startups interested in emerging opportunities of Central Asia and Southeast Asia.
Talking about mutual benefits provided by the memorandum, Tan noted that its signing will provide for strengthening of economic cooperation between the parties.
“If we believe that tomorrow's giants are today's startups, then we are putting in place the conditions for this to happen for both regions,” he said.
He noted that the cooperation looks to bring about closer economic and people-to-people relations between the two growing regions of Central Asia and Southeast Asia.
“More importantly, we recognize the importance of capital and technology in tackling the world's problems and are putting in place mechanisms to support startups that are looking to do so,” he concluded.
As it was previously noted by the Baiterek Holding, which is a parent company of QazTech Ventures, the purpose of the memoranda is placing the Kazakhstan’s system of startups on the map of the world. It was also noted that the company is working hard to establish strong ties with more developed ecosystems.
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