BAKU, Azerbaijan, December 21. A program co-developed and implemented by the International Islamic Trade Finance Corporation (ITFC) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) will create a bridge between startups and small and medium-sized enterprises (SMEs) in Central Asia and investors, said Jonathan Wong, Chief of the Innovation, Enterprise, and Investment Section at ESCAP, in an interview with Trend.
He emphasized that the program is being carried out in partnership with Gobi Partners (one of the largest pan-Asian venture capital firms) and GUIDE (an organization supporting entrepreneurship development).
"The program will not only support startups and SMEs in their investor readiness (from pitches to business model refinement), investor identification (VC, Angel) and target market identification and access; it will also provide participating companies with concrete opportunities to pitch to investors at prominent international pitching platforms to attract investment," Wong noted.
He claims that the program will open doors for participants, giving them a leg up with exclusive support, mentoring, and investment networks in Asia.
"The program will be creating a concrete bridge between startups and SMEs in Central Asia and investors with a strong focus on Southeast and East Asia and is thus a prime opportunity for companies looking to expand and export to these markets to engage with leading investors and partners from target markets," he added.
Wong emphasized that the program offers comprehensive training for companies to improve their investment attraction strategies and provides tangible opportunities for international market access beyond the Central Asia region, aiming to boost digital exports from the region.
"The program focuses on countries such as Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan; therefore, startups from these countries will be eligible. Companies should be focusing on the digital economy and looking to boost their international exports. They should be in the growth stage and be able to demonstrate traction in their business models. Additionally, startups will have to evidence tangible contributions to the UN Sustainable Development Goals as a core part of their business models, the ESCAP representative said.
He also added that the call for applications will begin in the first quarter of 2025, with the program running for 6–8 months.
ESCAP, the preeminent intergovernmental platform in the Asia-Pacific region, endeavors to promote collaboration among its 53 member states and 9 associate members. The Commission prioritizes tackling sustainable development issues and fostering regional cooperation.