How did the opening of Kazakhstan's innovation hub in Saudi Arabia go?

Aidar Parzhanov shared his impressions of the opening of Kazakhstan’s innovation hub in Saudi Arabia during a live broadcast on our Telegram channel. We are sharing the most interesting thoughts in text format.

Aidar Parzhanov, founder of Set24.kz

About himself

Set24 is a retail technology without staff. We have our own network of next-generation vending equipment, which we assemble in Almaty. The network already covers 4 cities and about 115 locations. We also have our own software solution — a CRM system developed specifically for this network and franchise. We are implementing and scaling through a franchise model.

About the LEAP 2024 forum in Saudi Arabia

Recently, we participated in a major forum as a Kazakh IT startup. We presented our project at the national stand and pitched it to our government, which was present in Saudi Arabia. Representatives of Saudi Arabia were also there, to whom we told about our project and showed it.

The forum was held on a large scale. LEAP 2024 is an annual event where representatives from different countries come to participate, present their companies, find new solutions, understand trends and directions in which the region is moving in the IT industry, and so on. Thanks to the event, companies find partners and sign cooperation agreements with them.

About 10 Kazakh companies participated in our pavilion, some of which are already actively developing in the global market. Each company had its own goals: some aimed to expand their presence in the market, while others simply wanted to present their project.

Disadvantages and features of the exhibition

The theme of the forum was "Artificial Intelligence and Deep Tech." Entire pavilions were dedicated to this topic. There were also projects from other fields.

The forum lasted four days, participants followed the schedule, visiting pavilions and exchanging contacts. There was noticeable active participation from representatives of different countries, even if their companies were not represented at the exhibitions. This facilitates mutual exchange of experience and ideas.

The forum showed that the region, including Saudi Arabia, is actively developing and striving to become a center of high technologies, reflecting interest in innovations in the field of information technology.

Thanks to the support of Astana Hub and the Ministry of Digitalization, we were included in the list of participants from Kazakhstan. We wanted to study the market for our technology and find a partner for its development in the local market, which we managed to do. We have established preliminary agreements on the budget and continue to discuss details with representatives from Saudi Arabia.

The scale of the exhibition was impressive, although some participants noted problems with organization and logistics. However, we take these situations with humor. Participation in such events has its advantages, especially if your company aims for export. It helps build contacts and learn from others' mistakes.

We received valuable contacts and knowledge, met many interesting people, and learned about representatives of our Kazakh community. Even if we do not close deals or find partners, it remains useful experience. By studying the market and competitors, we gained valuable insights for our team. In the end, we understood that we have advantages in our field and can successfully move forward.

Recommendations for IT companies that want to participate in such forums/conferences

Stay informed: it is important to constantly follow news and events in the industry. Join communities such as Astana Hub to stay up-to-date with current information and opportunities to participate in events. The main recommendation is to stay informed, keep your nose to the wind, see which programs suit you, and participate.

Stay open to new opportunities and actively participate in various initiatives to maximize the potential of your startup. Your readiness to act and desire for growth and development are important factors in your success.

About Al-Farabi Innovation Hub

The hub provides assistance to Kazakh companies planning to expand their activities abroad. It is a kind of transit point that helps companies enter foreign markets.

This assistance includes consultations with specialists familiar with the local market, help in finding investors, business development, and establishing contacts. The hub also provides the opportunity to obtain a legal address, initial consultations, and helps companies start activities within a new region or country.

The opening of the hub was attended by the Minister of Digitalization Bagdat Musin, the director of the hub Aslan Sultanov, and representatives of local business and government. Kazakh companies, including us, were also invited to the ceremonial opening of the hub and presentation. During the opening, motivational speeches were made, calling for the development of the region and cooperation.

The hub, named Al-Farabi Innovation Hub, was opened a day before the start of the exhibition, and during the demo day, Kazakh startups and IT projects presented their projects. After the opening of the hub, we met with participants, including teams from Tumar Ventures and White Hill Capital, who helped in its creation. These hubs help companies reduce costs and time to enter new markets, and I am glad that we have such opportunities for development on the world stage.