The Startup Ecosystem of Kazakhstan

Kazakhstan’s startup ecosystem is still in the early stages of development, and there remains much to be done to continue developing and solidifying the country’s position as a hub for Central Asia. The country’s economy is mainly sustained by the oil and gas industry, and the country aims to transition to a knowledge-based digital economy. Thankfully, there are plenty of potential funding opportunities for developing initiatives that can support growth and innovation.
The government is taking confident steps toward attracting startups by creating innovation technology parks, hubs, and accelerator programs. Thanks to these initiatives, Kazakh startups have access to capital at early stages in their development. Additionally, the government invested in Astana to help develop the city into a financial center, and the Astana Hub, a technopark of IT startups which successfully plays a pivotal role in the development of foreign and Kazakhstani technology companies. Moreover, the National Entrepreneurship Development Project for 2021-2025 provides government funding to entrepreneurs. Another government initiative is the Business Roadmap 2025, which aims to support new business initiatives in monotowns, small towns, and rural settlements, as well as priority industries.
Other than a strong economy which can actively support its local startup ecosystem, an additional advantage for Kazakhstan is the support of universities in the startup scene. Most notably, Nazarbayev University established an Innovation Cluster (NURIS) that offers resources, training, and investment for high-tech. Furthermore, Kazakhstan is the only country in the region for UNICEF’s pilot initiative to create and implement Digital Public Goods (DPGs), which improves learning outcomes and access to education.
The development of the Kazakhstan startup ecosystem depends on the country’s openness to the international community. As a country with a developing startup scene, Kazakhstan now has the opportunity to set the foundation for future growth. Attracting foreign investment and continuing to encourage entrepreneurship should be a key focus for the country.