Bektenov instructs to speed up creation of venture fund

Kazakhstan’s Premier Olzhas Bektenov gave a number of instructions regarding IT sector promotion, Kazinform News Agency correspondent reports.

As Bektenov said, it’s necessary to step up promotion of technological entrepreneurship in the regions as well as creation of conditions for specialists’ skill upgrading at regional IT hubs.

The Kazakh Premier instructed the Digital Development Ministry and local authorities to develop a roadmap to support regional IT hubs modelled after Astana Hub and Karaganda Terricon Valley.

It’s worth to note that Kazakhstani startuppers’ developments need large investments. Therefore, it’s necessary to speed up the creation of a venture fund, said Bektenov.

Prime Minister Bektenov assigned the Digital Development Ministry to complete the work on creation and licensing of Qazaqstan Venture Group management company as well as speed up the creation of a venture fund, set to raise up to 1 billion US dollars by the end of 2025.

Besides, the Kazakh Prime Minister stated the necessity to digitalize all procedures to conduct scientific and research works.

Earlier, Kazakh Prime Minister Bektenov revealed the key export directions for Kazakhstan's IT products and services.