Anatoly Motkin, President of StrategEast has contributed an article to Forbes Kazakhstan shedding light on the country’s burgeoning startup ecosystem. Published by Forbes Kazakhstan, Mr. Motkin’s article emphasizes the maturity of Kazakhstan’s startup industry within Central Asia, attributing its growth to several key factors.
Central to Kazakhstan’s startup success story are two pivotal entities: the International Financial Center in Astana (AIFC) and Astana Hub. These institutions have not only instilled confidence in founders by providing a conducive financial environment but have also championed legislative initiatives and attracted international investments, expertise, and support from tech giants.
Anatoly Motkin underscores Kazakhstan’s distinctiveness in the region, citing the presence of “super angels” – local investors who actively fund startups at an early stage. Moreover, the symbiotic relationship between the country’s diverse sectors, including oil and gas, finance, and technology, further fuels startup growth. Notably, many startups find acquisition opportunities within the local investment landscape, propelling industry development.
Despite these advancements, Mr. Motkin acknowledges the challenges that persist. Notably, the absence of large international funds with Western management in Kazakhstan poses hurdles for startups seeking substantial investments. Motkin advocates for fostering relationships with leading investment funds to create an enabling environment in Central Asia and the Caucasus.
Moreover, Mr. Motkin addresses concerns regarding startup acquisitions by investors, highlighting the need for startups to explore alternative markets beyond the West. He points to the Gulf countries as promising avenues, citing their burgeoning digital transformation efforts and substantial investment potential.
StrategEast President advises Kazakh startups to capitalize on opportunities in the Gulf market, emphasizing the importance of cultural awareness and patience in business dealings. He underscores the significance of intergovernmental relations and university-level collaborations in fostering business cooperation between Kazakhstan and the Gulf countries.
Mr. Motkin’s insights offer a comprehensive understanding of Kazakhstan’s startup landscape and its potential for expansion into promising markets, providing valuable guidance for entrepreneurs navigating the dynamic realm of global business.
