Central Asian Startups Flock to UAE Innovation Hub
Central Asian Startups Attracting International Investors
The United Arab Emirates has become home to over 20 startups founded by entrepreneurs from Central Asia. This growing trend in the Central Asian startup market is catching the eye of global investors, presenting new opportunities in the region.
Data from RISE Research indicates a significant increase in venture capital investments in Central Asia, reaching USD 96 million in 2024. This marks a 7% rise from the previous year. Kazakhstan stands out as the leading venture capital market in the region, accounting for 74% of the total investment volume. Foreign investments from countries like the UAE, the USA, the UK, Saudi Arabia, Singapore, and others are contributing to the growth of the market.
Uzbekistan has shown remarkable growth in the sector, with investment volume tripling to $17.5 million across 38 deals. Kyrgyzstan, on the other hand, has attracted $1.7 million with an annual growth rate of 19%, with a notable presence of women entrepreneurs in the country.
In Tajikistan, Islamic fintech technologies are taking the spotlight, attracting USD 4.6 million in 2024. The country’s venture market is benefitting from tax incentives for startups in IT Park Dushanbe and the establishment of a $5 million venture fund.
Artificial intelligence, fintech, and educational and medical technologies are among the key sectors drawing venture capital investments in the region. Analysts predict further growth for the Central Asian venture market in the years to come, emphasizing its high potential and increasing integration into the global ecosystem.
With Central Asian startups making their mark on the international stage, the region is poised for continued growth and innovation in the startup and venture capital space.
– ORIENT News
