According to the memorandum, signed between Tech Garden and the Global Venture Alliance (GVA), the Fund for the Digitalization of Industry of Kazakhstan will be launched. The Fund's aim is to attract investments in breakthrough global technologies for the development of basic industries and for the creation of new industries in the Republic of Kazakhstan and to attract foreign investments through the withdrawal of portfolio companies to the Astana International Financial Center. The initial amount of the fund will be $ 100 million, with a further increase to $ 500 million. Moreover, the share of the Republic of Kazakhstan budget in the Fund will not exceed 20%. The Fund unites accelerating and educational programs, venture funds and research institutes.
Sanjar Kettebekov, CEO of Tech garden, said: "Such initiatives of Tech Garden correspond to the goals, stated in the President of the Republic of Kazakhstan N. Nazarbayev’s Message and in State Program "Digital Kazakhstan". Their implementation will contribute to the modernization and digitalization of local enterprises and to the development of the national ecosystem of developers of digital and other innovative solutions. Furthermore, these initiatives trigger the development of venture financing in Kazakhstan in accordance with the ecosystem approach".
according to the press service of Tech garden
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