Startup Central Eurasia News Digest

02 February, 2022

We gathered the main news of Central Eurasia, affecting the region’s startup ecosystem. 27 January - 2 February;

1. Hundreds of Y Combinator alumni join crypto collective to back web3 startups

January 27, 2022. Techcrunch. The group, called Orange DAO, is an effort to build out a venture structure which can scout out and back young crypto startups. It was formed this fall with a few dozen YC alums, but has grown in recent weeks to attract more than 1,000 YC founders. The collective wants to use the crypto-native DAO formation to better incentivize its growing network to source deals.

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2. Pitch session results in Kazakhstan announced

January 27, 2022. Tech Hub. The AIFC Tech Hub and IDS Borjomi held an online pitch session as part of the STARTUP Borjomi Central Asia program. 8 startup projects were invited to participate in the areas of logistics and distribution, sales, production, marketing and e-commerce.

Startups Relog, Smart Satu, Smartup, Aspans, IT-enterprise, ClickLog and DosMart Product will have the opportunity to launch a pilot, feedback from experts and the ability to scale

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3. Cerebra received a registration number of an application for a patent for an invention

January 30, 2022. Cerebra. A patent is an exclusive right to an invention. A patent gives its owner the right to decide how the invention can be used by others. In exchange for this right, the patent owner discloses technical information about the invention in the patent document.

So far, we have gone through 3 stages of obtaining a patent and received a patent application registration number from the "National Institute of Intellectual Property". We are waiting for the completion of the substantive examination and publication of the patent in the WIPO archives.

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4. Revenue of the High-Tech Park of Kyrgyzstan exceeded 2.1 billion soms in 2021

January 31, 2022. Economist.Kg. According to the results of 2021, the revenue of residents of the High Technology Park (HTP) of Kyrgyzstan increased by 81% and reached 2 billion 117 million soms (almost $25 million at the current exchange rate). Including, according to the results of the 4th quarter, the revenue amounted to 759 million soms (an increase of 2.2 times). Such data was presented by the director of the park, Chubak Temirov. Foreign customers were the main source of income for HTP residents. These are mainly the USA, Russia, Kazakhstan and Cyprus. 

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5. Visa Everywhere Initiative 2022 invites payment and fintech startups to present their solutions on the global stage

February 1, 2022.  The Visa Everywhere Initiative (VEI), a global open innovation program, invites payment and fintech startups to present their innovative products and solutions. The finalists will be able to personally get acquainted with key figures in the financial sector, traders, representatives of venture capital funds and the public sector. The winners of the contest will receive cash prizes and the opportunity to become partners of the world-famous Visa brand.

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6. Kyrgyzstan signs law “On virtual assets” to regulate cryptocurrency turnover

February 2, 2022. Economist.Kg. On 21 of January President Sadyr Japarov signed the law “On virtual assets” to regulate the circulation of cryptocurrency. This law introduces such concepts as blockchain, virtual asset, virtual asset wallet, miner, mining, mining equipment, industrial mining, virtual asset trading operator (crypto-exchange), digital token, virtual asset issuer and others.

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7. Startups are expected to create projects to create "smart cities" in Karabakh

February 2, 2022. Sputnik. On 6-29 of May 2022, the TEKNOFEST aerospace and technology festival, organized by the Ministry of Digital Development and Transport of the Republic of Azerbaijan, will be held in Baku for the first time. For students, startups and entrepreneurs who want to be closely involved in the Karabakh revival program, an opportunity has been created to present their innovative projects on the Smart City concept within the framework of the TEKNOFEST festival.

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