The alliance of Astana Hub and IT Park Uzbekistan, under the unified brand of Central Asian Innovation Hubs, showcased 15 startups at Web Summit 2024, the world’s largest technology event, held in Lisbon, Portugal from November 11-14. These startups offer solutions in various sectors, including artificial intelligence, data analytics, fintech, digital banking, sustainable development, and digital healthcare.
Attracting over 70,000 attendees this year, Web Summit provides a platform for startups, investors, and technology industry leaders to forge new connections and collaborations. For Central Asian Innovation Hubs, participating in Web Summit was a crucial step in showcasing Central Asia’s burgeoning ecosystem to an international audience, highlighting its potential for attracting investment and establishing valuable partnerships.
“We aim to create a full-fledged ecosystem for the development of technological business and startups in Central Asia. In collaboration with world-class partners like Google for Startups, Draper University, Presight.AI, and Alchemist Accelerator, we provide unique opportunities for our residents. Through acceleration programs such as Hero Training, Silkway Accelerator, and Scalerator, entrepreneurs can take their projects to new heights. As a result, Central Asian startups are achieving great success. For example, Citix is the first project in the region to attract investment from a major American venture investor, Tim Draper, with a valuation of $98 million. And the Uzum startup raised $114 million in funding and achieved unicorn status with a valuation of $1.16 billion. This clearly shows that the region is becoming a center for innovation and is confidently entering international markets. Such progress allows local companies to be competitive in the global arena,” said Magzhan Madiyev, CEO of Astana Hub.
Kazakhstani startups presented their unique projects at Web Summit:
- Extrum Technologies (Oraclus) develops high-quality solutions based on web technologies, blockchain, and other advanced technologies.
- ZebraEye offers AI-powered software for diagnosing rare eye diseases.
- ProsperPay Kazakhstan is a leading provider in Central Asia offering services that make payroll accessible.
- Hired Valley is a platform that provides university students with employment opportunities.
- Foqus is an AI platform that provides applied analytical data by analyzing behavior in various fields.
- Beyim Tech is a project that creates digital products in the field of education.
- ESG Track is a monitoring system for sustainable development, employee well-being, and financial performance.
Uzbekistani startups also garnered significant attention at Web Summit, including:
- DATALAB LLC offers innovative solutions for data analysis, process optimization, and decision-making support.
- Sharh is an AI-powered platform for customer feedback.
- iWatt provides smart energy management tools and solutions for sustainable development.
- Finco is a startup offering digital banking solutions such as microloans and e-wallets.
- Online Nurse is a telemedicine platform that allows for virtual consultations with doctors.
- Paylov is a secure payment gateway for online payments.
- IMAN Global is a startup offering services based on Islamic finance principles.
- Cradle Vision Tech is engaged in developing solutions based on automation, artificial intelligence, and machine learning.
“Central Asia is becoming a key player in the global technology arena. This region has great potential for creating new unicorns and developing the entrepreneurial ecosystem,” said Farhod Ibragimov, CEO of IT Park Uzbekistan. — Within the framework of Central Asian Innovation Hubs, we are focused on creating opportunities that connect our ecosystem with global innovation leaders, incubators, accelerators, investment funds, and investors. Such partnerships accelerate the pace of technological development in the region, attract investment, and open up new avenues for business growth. We aim to transform Central Asia into a global center for innovation and technology by providing the necessary resources and support. This lays a solid foundation for the region’s companies to be competitive on a global scale,” he said.
Central Asian Innovation Hubs is a joint initiative of Astana Hub and IT Park Uzbekistan, created to promote and support regional startups in the international arena. The collaboration, based on a memorandum signed during ICT WEEK UZBEKISTAN 2024, demonstrates the capabilities of both technology parks. They participated under a single brand in major events such as InMerge in Baku and Central Asia at Silicon Valley and TechCrunch Disrupt 2024 in San Francisco
