"We are building a bridge between the innovative ecosystems of Silicon Valley and Kazakhstan," said Arsen Galimzhanov, Head of Innovation and Business Acceleration at JSC "TransTeleCom".

On October 28, at the venue of the Digital Bridge 2021 International Forum, a memorandum of understanding was signed between Astana Hub, Transtelecom, and Plug and Play Kazakhstan, under which the parties are launching a corporate accelerator for Kazakhstani IT startups. Transtelecom is one of the largest telecommunications operators in the Republic of Kazakhstan, specializing in telecommunications, digitalization, and system integration in the fields of IT, communications, automation, and energy.

The Tech, which served as the media partner of the forum, interviewed Arsen Galimzhanov to learn about the prospects of the joint accelerator.

In the interview, you will learn:

• About the practical benefits of the memorandum;
• About the joint project of Astana Hub, Transtelecom, and Plug and Play Kazakhstan;
• About the new acceleration program;
• About the role of Transtelecom in the project;
• About how a startup can attract attention.

• The news about the signing of the tripartite memorandum was positive for the Kazakhstani IT market. And this is not surprising. As you know, creating an innovative ecosystem in Kazakhstan is one of the key directions of the state program "Digital Kazakhstan." And JSC "Transtelecom" is an active participant in it. It is worth adding that Plug and Play is a well-known global accelerator, headquartered in the heart of Silicon Valley. It is known for its investments in Google, PayPal, and others. The company's network includes about 500 partners and more than 40,000 startups. Thus, our cooperation means that we will be able to attract additional investments into the Kazakhstani economy. This will help build a more diversified and sustainable economic model. In addition, there will be new opportunities for the growth and development of domestic startups. They will receive expert and mentoring support from us and Plug and Play. Thus, thanks to the international presence of Plug and Play, domestic startups will be able to reach the international level much faster.

What joint projects are planned with these companies?

• At the moment, a corporate acceleration program is being launched jointly with TTC and Astana Hub. I would note that this Plug and Play program has established itself as one of the best in the world. Every year, more than 1,000 of the best startups from around the world participate in it, and the total volume of investments attracted by Plug and Play portfolio companies is about $9 billion USD. Thanks to the synergy of the Silicon Valley accelerator and partnership with leading corporations from around the world, Plug and Play is one of the world leaders in implementing corporate innovations. I can confidently say that today we are building a bridge between the innovative ecosystems of Silicon Valley and Kazakhstan.

How can a Kazakhstani startup understand that it needs this corporate accelerator, and how can a startup attract attention?

First of all, there needs to be a clear understanding of the acceleration program itself. Primarily, this includes:

• Development and scaling of the business in the global market, including Silicon Valley;
• Educational workshops and seminars;
• Mentoring and coaching from leading practitioners in Silicon Valley;
• Networking;
• Pitching to the world's best venture capital funds;
• Securing investments and profits.

All these and other opportunities of the program will help actively develop startups and significantly increase their chances of commercial success on an international scale. You see, it is not enough to simply want to conquer the global market, although that is also important; one must also know the rules for entering and operating in these markets. Thus, mentoring, workshops, and educational seminars will help form a clear vision and confidence in success. In countries with a more mature startup and innovation culture, this is of great significance. Networking events, in turn, will help establish useful contacts that can eventually lead to international partnerships. They are actually very effective and help save such a valuable resource as time. One can spend a lot of time conducting research but fail to identify certain pitfalls and insights, whereas by asking a few right questions at networking events, one can form a comprehensive picture and make the right decision. Furthermore, the acceleration program is an opportunity to meet the best venture capital funds, including Plug and Play, pitch, raise investment rounds, and much more.

Regarding the question: "How can a startup attract attention?" First of all, I would highlight export potential. Secondly, startups should pay attention to areas that are priorities for economy-forming corporations. For example, for "Transtelecom," the focus remains on 5G, cloud solutions, IoT/IIoT, cybersecurity, smart cities, RPA, technologies in the railway industry, AI/ML, and big data analytics. Finally, do not forget about classic criteria such as the team, traction, market size, uniqueness of the solution, etc.

What interested Transtelecom in the proposal to conduct such an accelerator?

• For "Transtelecom," it is important to have access to innovations worldwide, as this provides a huge impetus for the development of its own products and services. Again, corporations can allocate huge budgets to R&D and wait a long time for results. Or they can adopt a practical model and gain access to a huge pool of innovative solutions, which our company has indeed done. We live in an era where everything changes and develops at lightning speed. And for our company, it is very important to stay on top of things. All of this led us to begin cooperation with Plug and Play. In addition, we have a clear understanding that an integral part of the development of the innovative ecosystem is the development of the venture investment market. Therefore, I will let you in on a secret: we plan to create a corporate venture fund. This is a very popular and effective tool in the US for working with innovations. I believe it will also become popular here in Kazakhstan.