Central Eurasian Startups Secure $1.4 Million in Funding
Startups from Central Eurasia Secure $1.4 Million in Investments through AlchemistX and Silicon Valley Residency Programs
ASTANA — The Kazakh Ministry of Digital Development, Innovations, and Aerospace Industry reported on Dec. 27 that startups from Central Eurasia, including Most Finance, JobEscape, and Speechsense.ai, have secured $1.4 million in investments through the AlchemistX and Silicon Valley Residency Programs.
According to the report, out of 22 startups from the region, eight of them – JobEscape, LoadConnect, Parqour, PointAI, Flowsell.me, Call2action, Oli, and MyStory – have signed commercial deals worth $379,000. The program participants are collectively projected to generate $17 million in revenue by 2025.
These programs, implemented by the Astana Hub Technopark and Silkroad Innovation Hub, have supported participants in securing first contracts, attracting investments, finding housing in the United States (U.S.), receiving expert coaching and mentoring, and accessing the Silkroad Innovation Hub community.
One success story from the program is Kazakh startup Parqour, a resident of the Astana Hub, which developed smart parking technology to help reduce operating costs and minimize manual labor. The startup has expanded to 25 countries and secured long-term contracts for 10-12 years with San Francisco-based parking operators Nexus Parking and United SF Parking.
Overall, this unique five-month initiative has provided startups from Central Eurasia with an opportunity to enter the U.S. market and establish a foundation for sustainable growth.
