Al-Farabi Innovation Hub signed a memorandum of strategic partnership in Saudi Arabia

As a result of the GCC — Central Asia Investment Forum, a memorandum on strategic partnership was signed between Al-Farabi Innovation Hub, Al Rajhi International for Investment, and the co-chair of the Kazakhstan-Saudi Business Council.

Support from the Kazakh side was provided by the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan, the Kazakhstan-Saudi Business Council, and Astana Hub. The initiators of the partnership intend to jointly create a business accelerator for technology companies from Kazakhstan and Central Asia in Saudi Arabia, providing startups with access to pilot their solutions, find local business partners, and secure venture capital.

The partnership will significantly expand opportunities for startups from Central Asia in the Kingdom, ensuring free access to new capital and the ability to develop and compete at a global level. For the Saudi side, this alliance allows them to get acquainted with new technology companies from Central Asia, learn from the best practices of our entrepreneurs, and help integrate selected projects in the Kingdom.

Source: gov.kz