Startup Central Eurasia News Digest

17 March, 2022

We are ready to share the weekly digest of news about the Central Eurasian Startup Ecosystem. A key trend is that the companies in the countries of our region are ready to help specialists from Ukraine and Russia with adaptation of their business to new conditions. The Startup Central Eurasia Platform also seeks stability and sustainability in our region, so we are continuing a preparation for the Georgia Summit, which we plan to hold in April. 

Keep an eye on our announcements! 

1. Startup Miro, founded by Russians and based in the USA, announced the withdrawal from the Russian and Belarusian market

March 11, 2022. Forbes

Miro is a platform for collaborative remote work. During the last round Miro was valued at $17.5 billion. It became a unicorn in January 2021, received $400 million in investment. Miro’s clients include Cisco, Dell, Deloitte, HP and others.

Due to the current developments in the region, the management offered Russian employees employment in other branches of Miro. The startup promised to support existing Russian and Belarusian clients, except those who were «on international sanctions lists». Miro will also make its services free for Ukrainian users «at least until August 2022».

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2. Startup Growth Centre in Armenia «Orion» said that it is ready to provide comprehensive support to companies from the region 

March 11,  2022. Public Radio of Armenia

Taking into account the situation in Russia, Ukraine and related markets, Orion is ready to provide consulting services, support requests for mergers and acquisitions (M&A), and help professionals in the process of moving. In addition, Orion Worldwide Innovations launched BAJ Accelerator in May 2022 for startups and technology companies. «Orion Worldwide Innovations» and its partner «BAJ Accelerator» have more than 90 angel investors in their network, as well as more than 600 active venture capital.

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3. Registration for the competition STARTUP CHOIKHONA in Tajikistan is opened

March 12, 2022. Startup Choihona

The initiative «Startup Choihona» is a competition for the selection of the best business ideas in Tajikistan for their further promotion and development. To participate are invited students TNU or RTSU,  who have an idea for a startup. 

Registration by link:   

4. Global Finance reputable magazine has published the list of winners of the World’s Best Investment Banks 2022 Award, naming Ameriabank the “Best Investment Bank in Armenia” for the seventh year in a row

March 13, 2022. Aisor Armenia

The winners of the prestigious award were chosen on the basis of input from industry experts and a number of criteria: number and size of transactions, distribution network, innovation policy and pricing. Ameriabank is the only company that provides investment services in Armenia and has separate divisions for capital markets, mergers and acquisitions. 

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5. Fintech-startup Revolut opened its services to Ukrainians

March 14, 2022. Information. Agency LIGABnizInform

Fintech, a company launched in London in 2015 by Nikolai Storonsky and Vlad Yatsenko, opened access to payment services for people who are forced to leave Ukraine. To ensure quick and easy access to its money, Revolut has eased the requirements necessary to open an account, as well as waived a number of currency exchange and deposit fees. 

In more detail: 

6. Uzbekistan becomes an attractive location for foreign IT companies

14 March 2022. Ministry of ICT Development

The Ministry of ICT Development of Uzbekistan said that the branches of foreign companies, as well as the inflow of foreign specialists will allow to employ more than 5 thousand young personnel in the field of information technology and increase the export of IT services to $100 million.  This became possible thanks to the steps taken by the state: in 2017, a decree was adopted under which IT companies until 2028 are exempt from all types of taxes and customs duties on the import of equipment. In addition, IT-Park of Uzbekistan has launched the program «TashRush», through which foreign companies provide services on opening of legal entities (according to the principle of OneStopShop), search of offices and selection of personnel, and IT-specialists help in employment in companies-residents of IT-Park.

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7. Kazakhstan-based startup attracted $7 million of investments 

March 15, 2022.  Forbes Kz

Appboxo Startup is a platform that connects mini apps to super apps and provides integration between them. The money was invested by RTP Global, SciFi VC and Gradient Ventures, a Google venture capital fund. The round was attended by active investors - Antler and 500 Southeast Asia. Appboxo has two products: Miniapp Platform - to run mini-apps inside big ones and Shopboxo, which allows entrepreneurs to easily start selling online and use the power of super apps as an additional sales channel.

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