ASTANA – Billion-dollar tech companies with global market reach will emerge from Kazakhstan, Uzbekistan, the Kyrgyz Republic, Azerbaijan, Türkiye, Mongolia, Tajikistan, Turkmenistan, and Georgia in the next 10-15 years, said organizers of the Central Eurasia at Silicon Valley conference on Oct. 25 in San Francisco, the United States.
Central Eurasia at the Silicon Valley Conference was held on October 25 in San Francisco, United States of America. Photo credit: CESV
As stated by the Silkroad Innovation Hub’s press service, the event, held at the Yerba Buena Arts Center, where Apple’s Founder Steve Jobs debuted the iPhone and iPad, marked the first conference in Silicon Valley focused on Central Eurasia’s tech potential.
Founded in 2023 in Palo Alto by Asset Abdualiyev from Kazakhstan and Asror Arabjanov from Uzbekistan. Photo credit: CESV
Founded in 2023 in Palo Alto by Asset Abdualiyev from Kazakhstan and Asror Arabjanov from Uzbekistan, Silkroad Innovation Hub supports Central Eurasian startups as they establish or scale their businesses in Silicon Valley and the U.S. market.
The founders aim to bring renewed global attention to a region unfamiliar to many in the tech world. Historically, the 4,000-mile Silk Road was the world’s longest trade route, and the countries along its path made significant contributions to the economics and technology of their time. Fields foundational to Silicon Valley, such as algebra and astronomy, also originated in the East.
According to the event’s organizers, Central Eurasia is a thriving region with untapped potential. With a population of 100 million and an average age of 27, it graduates around 200,000 STEM students annually. The region has everything necessary for tech industry growth: universities, a startup ecosystem, venture funds, and representation in Silicon Valley.
In its first operational year, the Silkroad Innovation Hub attracted 80 resident startups, collectively securing over $30 million in funding. The founders are confident that it is time to put Central Eurasia on the map of the global tech industry.
Kazakhstan accounts for 50% of the region’s GDP. Ranking 10th on the UN Global Online Services Index and third on the Global Innovation Index among Central and South Asian countries, the country has the Astana Hub International Park of IT Startups, a regional headquarters for decacorn companies.
Kazakh Minister of Digital Development, Innovation, and Aerospace Industry Zhaslan Madiyev noted that local investors are ready to provide early-stage funding of $100,000-$200,000. However, initial access remains challenging for later-stage investments in the $1-2 million range.
He emphasized the role of artificial intelligence (AI), which could add $15 trillion to the global economy by 2030. According to Coursera, Kazakhstan ranks fifth globally in government preparedness for AI adoption, following the US, Singapore, the UK, and Türkiye.
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