Silicon Valley (TDI): Over the next decade, the tech landscape is poised for a transformation, with large companies emerging from Central Eurasia—a region encompassing Azerbaijan, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, Turkmenistan, Turkiye, and Uzbekistan.
This assertion was made at the inaugural technology conference, “Central Eurasia at Silicon Valley,” which showcased the top 100 startups from the region alongside American venture capitalists and industry leaders.
Conference organizers highlighted the vast, untapped potential of Central Eurasia, home to over 100 million people with an average age of 27.
Each year, around 200,000 young individuals in the region graduate with degrees in STEM (science, technology, engineering, and mathematics).
The area boasts essential resources for tech industry growth, including universities, a developing startup ecosystem, and venture capital funds.
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Notably, the Silkroad Innovation Hub in Silicon Valley has attracted 80 resident startups and over $30 million in investments during its first year.
Kazakhstan’s Minister of Digital Development, Innovation and Aerospace Industry, Zhaslan Madiyev, emphasized that Kazakhstan alone contributes to 50% of the GDP within Central Eurasia.
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He noted the country ranks 10th in the UN Global Online Services Index and 3rd in the Global Innovation Index among Central and South Asian nations, trailing only Iran and India.
Madiyev remarked on the rapid advancement of new technologies such as AI and blockchain, which are stimulating market growth and encouraging entrepreneurial ventures.
He further highlighted the willingness of Kazakhstani investors to commit $100,000 to $200,000 in early-stage startups. However, securing larger investments of $1 million or $2 million remains a challenge, even for more established ventures.
As such, he called for efforts to promote Kazakhstani startups on the international stage, particularly in Silicon Valley.
