• KGS/USD = 0.01181 0%
  • KZT/USD = 0.00210 0%
  • TJS/USD = 0.09404 0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00210 0%
  • TJS/USD = 0.09404 0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00210 0%
  • TJS/USD = 0.09404 0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00210 0%
  • TJS/USD = 0.09404 0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00210 0%
  • TJS/USD = 0.09404 0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00210 0%
  • TJS/USD = 0.09404 0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00210 0%
  • TJS/USD = 0.09404 0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01181 0%
  • KZT/USD = 0.00210 0%
  • TJS/USD = 0.09404 0.11%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 2

Success of Kazakhstan’s JobEscape Start-up

Kazakhstan’s largest venture fund, Tumar Venture LP, whose key investors are the World Bank and the Kazakh Ministry of Digital Development, Innovation and Aerospace Industry, has invested a further 250 thousand US dollars in the Kazakh start-up JobEscape. As announced by the Ministry of Digital Development on 17 June, the total investment in the project now stands at 450 thousand US dollars. JobEscape is a platform that facilitates the acquisition of new skills required to start a freelancing career, through the provision of solutions unique to freelancers and career changers, access to training and a wide range of AI tools. A global project, JobEscape has users from the USA, Canada, Australia, and European countries. Regarding funding, Aslan Sultanov, CEO of Tumar VF, stated: “We invested in JobEscape in the last round and have seen the project grow from literally $10,000 in monthly revenue to almost $1 million in annual revenue. Seeing this dynamic rise, we are confident that the start-up has the potential to grow into a billion-dollar company with roots in Kazakhstan. We are pleased to support the team in creating such a global initiative.” Similarly encouraged by the platform’s development, Miras Sovetov, CEO and co-founder of JobEscape, said: “At the moment, the company’s annual revenue is already close to $1 million. The goal is to grow to US$6 million in 2025. The product is now being widely used in Western markets due to the rapid development of products in the field of AI. Investments in this round will help the company increase its customer base and increase the number of AI tools on the platform. Investors from the UAE and Azerbaijan are already entering the project, which confirms its competitiveness in the global market. The next step will be raising money from American funds for further growth and potential exit (sale of the start-up).”    

Kazakhstan’s Al-Farabi Innovation Hub Boosts Start-Up Opportunities in Saudi Arabia

A memorandum of strategic partnership has been signed by Kazakhstan’s Al-Farabi Innovation Hub and Saudi Arabia’s Al Rajhi International for Investment. The intention behind the agreement is to create a business accelerator for technology companies from Kazakhstan and Central Asia in Saudi Arabia, and provide opportunities for start-ups to pilot their practices, identify local business partners and secure venture capital. Supported by the Kazakh Ministry of Digital Development, Innovation and Aerospace Industry, the Kazakh-Saudi Business Council, and Astana Hub, the partnership will help expand the potential of Central Asian start-ups in Saudi Arabia by providing easier access to new capital and opportunities to both expand and compete globally. Emphasizing the significance of the agreement, Aslan Sultanov, founder, and CEO of Al-Farabi Innovation Hub, stated, “We are aimed at creating the best conditions for start-ups from Kazakhstan and Central Asia and strive to provide maximum development opportunities in the MENA market.” The Al-Farabi Innovation Hub was set up to attract talented entrepreneurs and innovative start-ups from Kazakhstan and Central Asian countries to Saudi Arabia.