THE STARTUP ECOSYSTEM OF KAZAKHSTAN 2021

Kazakhstan is and has been shaping up to play a leading role as the hub for entrepreneurship in the region. Through various interviews and secondary data, we can see successful stories and case studies of the entrepreneurial movement. We see that Kazakhstan’s ecosystem is growing at a fast pace. This is both in terms of number of new companies as well as an ever-growing source of funding coming together in the last five years. 

With this graph we see a very optimistic outlook for the role Kazakhstan can play for developing and retaining entrepreneurs as well as becoming the fundraising center for the region. An appetite for high risk investment is growing. In the long run, there is a need to help founders diversify to become more inclusive, both geographically and in terms of the founder community. With the government playing a key role in many new initiatives, taking risks for the community up until now, there is room to readjust approach and align with the needs of the current state for a complex system.

We also expect to see larger involvement from the private sector. Finally, we looked at the effects of the global pandemic and the way founders have grown and become more resilient. Many founders have turned global hardship into an opportunity fueled by adoption of e-commerce delivery and other tech for everyday use in the life of consumers. 

Oko Davaasuren,
TUZ Venture Partner & Techstars Director

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