Plug and Play, in partnership with Astana Hub and TransTelecom JSC, have launched a corporate accelerator in Kazakhstan for local and international startups

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Dec 15, 2021, 11:00 ET

NUR-SULTAN, Kazakhstan, Dec. 15, 2021 /PRNewswire/ -- In November 2021 partnership agreements were signed between Astana Hub, TransTelecom JSC, and Plug and Play Kazakhstan. The parties intend to work together to develop the startup ecosystem, attract investment, create and conduct acceleration programs and assist companies in reaching their innovation goals.

"Today, society recognizes the importance of developing a startup ecosystem as a factor of economic development. We are convinced of the need for long-term and effective cooperation in the interests of our partners and the community, and we believe that it will contribute to strengthening the development of the startup ecosystem in Kazakhstan," said Sanjar Taromi, country manager of Plug and Play Kazakhstan.

Plug and Play Kazakhstan, Astana Hub, and TransTelecom JSC have launched a corporate accelerator for 20 local and international startups. They will be able to advance skillsets under the mentorship of global experts, determine product-market fit, attract investments, scale up to other markets and launch pilots with leading corporations. Key players of the ecosystem will also have access to events and training programs from the regional office.

"One of the startup's main tasks after launch is to make the product highly demanded in the market. They all strive to become a legend, like Google, PayPal, or Dropbox. No one knows this better than the company that played a role in supporting these legends - Plug and Play. With the support of the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan and through the partnership with TranTelecom JSC and Plug and Play Kazakhstan, we will continue to build up the potential of young IT companies," said Magzhan Madiyev, CEO of Astana Hub.

"Delivering the most innovative and efficient products to our clients is of paramount importance for TTC. Partnership with Plug and Play will give us access to global startups and solutions, which will help bring innovative products and services to Kazakhstan. At the same time, we aim to introduce innovative companies and talented teams from Kazakhstan to the global arena. I believe that this partnership with Plug and Play will create a strong bridge between Kazakhstan and the global innovation ecosystem," said Yerlan Minavar, Deputy CEO for Development and Innovation, TransTelecom JSC.

References:
Astana Hub is the largest international technology park for IT startups in Central Asia. Conditions are created here for the free development of Kazakhstani and foreign technology companies. The global mission of Astana Hub is to support startup culture and digital innovations to strengthen the economy of the Republic of Kazakhstan.

Technopark provides multifaceted support to startups through financing, incubation, and acceleration programs, training of IT specialists and investors, as well as cooperation with large domestic and foreign Big Tech companies.

As of November 2021, Astana Hub has 586 IT companies in which 64 are foreign. Startups earned 166 billion KZT and attracted 56.6 billion KZT in investments, grants, and loans in two and a half years. The export of IT services of Astana Hub residents amounted to 52 billion KZT by the end of 2020 and the 3rd quarter of 2021. It is worth noting that the tax benefits for IT companies provided in the framework of the Ecosystem partnership program saved 15,2 billion KZT.

www.astanahub.com

TransTelecom JSC is one of the largest telecommunications service providers in the Republic of Kazakhstan. The company specializes in providing a wide range of telecommunications services, digitalization and system integration in the field of IT, communications, automation, energy, railroads, and supply chain.

Some of the landmark projects includes:

Construction of nine Data Centers all over the country,
Provision of Internet access to rural settlements in the framework of the Digital Kazakhstan State Program. TTC has laid approximately 6,000 km of fiber-optic cables and connected 1,222 social facilities.

www.ttc.kz

Plug and Play is the leading innovation platform, connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we're present in 35+ locations across five continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we've invested in hundreds of successful companies including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi.

https://www.plugandplaytechcenter.com/

Plug and Play Contact
Sanjar Taromi
[email protected]

SOURCE Plug and Play