At Startup KPIs Day, 10 startups presented their projects.

The Venture Day demonstrated the potential of projects from Central Asia.

Startup KPIs Day was held by the Startup Central Eurasia platform on July 7 in an online format. Speakers and guests included representatives of the MyVentures venture fund and Astana Hub, as well as experts from technology parks, government organizations, and venture funds of Uzbekistan (IT Park, UzVC, AloqaVentures), Kyrgyzstan (High-Tech Park), Tajikistan (State Business Incubator), Azerbaijan (Innovation Agency, Sabah.lab, PASHA Holding), the Czech Republic (DEPO Ventures), and Switzerland (Fongit).

Startups at Startup KPIs Day were selected based on the results of calculating their key metrics: idea development, presence of an MVP, initial sales, and scalability potential. Other important indicators included the level of product innovation and its scientific intensity, team composition, and sales speed. In total, more than 70 projects applied for Startup KPIs Day. As a result of preliminary selection and analysis of key metrics, ten startups pitched their ideas.

The following projects were among them:

1. VOovOo — a Georgian startup offering the most reliable and secure peer-to-peer car-sharing service. The preventive Advanced Fleet Control technology allows the owner to monitor the speed of the car rented out. The startup has already closed its first round of investment, is finalizing work on its mobile application, and is preparing to enter the European market in 2023.

2. Ecoplast — a Tajikistan-based startup that recycles plastic bottles and produces paving tiles from the same raw material. According to the founders, their patented technology will help reduce the carbon footprint several times over. Ecoplast has its own mobile app where users can learn about waste separation in Tajikistan. The startup has already attracted grants totaling around $1,500, has partnerships in Kazakhstan and Uzbekistan, and seeks investment to acquire equipment.

3. FIN — a Kyrgyz project serving as a financial online assistant, with plans to evolve into an open banking concept in the future. The project aims to provide honest information about banking products and develop financial culture in Kyrgyzstan. Currently, the company is working on an API-first solution that allows end users to purchase various products and services with interest-free installment plans. The startup is already actively operating in the Kyrgyz and Uzbek markets. Their plans include establishing more partnerships with financial organizations and launching joint products.

4. Factor Price — a Kazakh B2C retail trading platform assisting small and medium-sized businesses using smart contracts. The startup claims to have conducted thorough analysis of buyer habits in Kazakhstan and offers solutions to many problems — primarily, the ability to buy goods directly from manufacturers without intermediaries. Factor Price is a resident of Astana Hub and has already attracted over $30,000 in investment. The project is already implemented in Kazakhstan and plans to expand into the markets of EAEU, CIS countries, and India.

5. Agni — an Uzbek startup offering a device for detecting gas emissions. The first step in implementing the product involves cooperation with government organizations; subsequently, the founders aim to sell the devices to residential buildings, followed by owners of gas-powered vehicles.

The startups presented above scored more than 70% in the Startup KPIs Rating based on metric calculations. Other projects presented at the Venture Day also achieved high results and demonstrated their own strengths. For example, the agrotech startup Me Farm aimed to address the still relevant problem farmers face in livestock care, while the founders of Haru looked to the future by proposing an educational platform for IT specialists based on Web 3.0. Startups from Azerbaijan (Best.az), which offers an app for booking appointments with specialists in private clinics; Kazakhstan (Around), which created a marketplace for entrepreneurs working from home; and Uzbekistan (Evaset), a retail project, also sought to solve problems in their respective countries.

The Startup Central Eurasia platform will continue working with startups. By registering on the website, they will be able to use tools for evaluating their products, receive mentoring support, and gain access to annual offline events.

Startup Central Eurasia is an alliance of key players in the innovation ecosystem of Central Eurasia. It brings together government organizations, accelerators, investors, and startups themselves, and provides information on entering the markets of regional countries. The initiative is supported by Future Laboratory and the International Telecommunication Union, a specialized UN agency for ICT.

Source: profit.kz