Nomadiq Innovation Hub: How 2024 Went for the IT Hub in Singapore

Alisher Tolegen, city — Almaty, head of the venture direction at Investbanq and general manager at Nomadiq Innovation Hub

Results of Nomadiq Innovation Hub

This year, our achievements can be divided into important and key ones. An important achievement is that in May, we successfully opened an office in Singapore, providing Central Asian startups with space and tools to enter the Southeast Asian market. Key achievements include:

1. The hub managed to attract investment capital.

2. Support and investment in six promising startups. We not only provided them with financial support but also actively participated in their development by offering access to the hub's services and international contacts. With two startups, we are still in the final stage of signing agreements, but four startups are already being actively supported by our team:

— Clockster — actively operates in the Indonesian and Philippine markets

— SnapHunt — a Singapore-based startup that is expanding globally and entering the Central Asian market. The platform already has many users from Kazakhstan and Central Asia

— Introdex — a startup actively entering the Singaporean and Japanese markets

— Biometric Vision — one of the best solutions in the biometrics market. Currently preparing for scaling.

3. The main product of our hub is Scalerator. Over the past year, significant work has been done in areas such as strategic consulting, product strategy development, financial modeling, operational support, and fundraising.

Main challenges for the IT sector

The main challenges faced by startups include limited access to international markets and the limited size of the local market. Nomadiq Innovation Hub helps overcome these barriers by attracting international venture funds from Southeast Asia, the UAE, Turkey, and Cyprus, which are interested in startups from Central Asia and Kazakhstan.

The Kazakh market is relatively small, making it difficult for startups operating in high-tech and niche segments to achieve scalability and sustainable growth. Existing large companies and banks create competition, which complicates scaling. Although the Central Asian market also has potential, many founders aim for larger markets, such as Indonesia, where starting and capturing a niche can be sufficient for a high valuation.

Nomadiq Innovation Hub helps startups overcome these barriers by providing not only access to venture funds but also assistance in contract negotiations, legal support, and consulting.

We provide access to a network of experts, including partners such as international universities that can offer educational programs. The hub's team helps startups with scaling plans, developing a comprehensive plan with key performance indicators to achieve the desired financial results and valuations.

Plans

Our Scalerator program differs from standard accelerators in that we do not support startups on a conveyor belt basis but offer a more personalized approach. During the scaling process, each startup follows its own path. Some may become partners of large aggregators, others target B2C markets, and so on. It all depends on the specifics of the startup. This makes our program more flexible and tailored to the needs of each project.

Our plans for next year are to continue selecting startups, screening them, and allocating the capital we raise. Agreements have already been signed with six promising projects, and the search for new ones continues. It is important to note that there are not many good projects that can bring significant returns. We are looking for quality startups that can use our capital effectively, rather than just trying to quickly raise a valuation.

We provide personalized support to startups, ensuring assistance at any time and overcoming barriers to entering markets, including Southeast Asia and global markets in general. Our team consists of experts from around the world, many of whom have experience living and working in these regions.

One of the key barriers for startups in such regions is cultural specifics. It is important to understand local traditions and customs, even in the context of globalization, which brings its own adjustments to lifestyle.

For example, in some Southeast Asian countries, there are no collection agencies for microfinance organizations and banks. The reason is that it is enough for a bank to call the borrower's neighbor and say that they are not repaying the money. The neighbors will solve the problem themselves. This is an important cultural aspect that we take into account. We provide support to startups, helping them with such nuances, advising or participating operationally if necessary.

In 2025, we want to focus on strengthening our market position by supporting startups not only from Kazakhstan but also from the entire Central Asian region. This year, I visited startup forums in Tajikistan and Azerbaijan and saw many opportunities for working with local startups.

About motivation and inspiration

Technologies that change the market and solve real problems are always inspiring. Especially when working with hubs and portfolio companies, it brings me joy to work with talented founders. At early stages, such as Pre-seed and Seed, it is important to invest in the founder, not just the idea. It is interesting to listen to their opinions on problems, how they approach solutions, whether they are restrained in their ambitions or ready to break down walls. Working with founders is important at later stages as well — it is necessary to play the role of a consultant and help them make decisions.

A successful startup is not just a successful product but often a change in approach and thinking in the market. For example, Amazon and Alibaba not only changed the product but also influenced the development of entire markets. I would like to see a startup from our region that changes the market and inspires the IT community, especially in Kazakhstan.

We believe that talented and ambitious people can create something important and significant that can influence market development. This light at the end of the tunnel gives us hope.

Our goal is to be not just support but a full-fledged partner that helps startups grow, scale, and become leaders in their industries.

This year is coming to an end, and if we look back, it was indeed difficult for many. This is evident from the mood ahead of the New Year holidays. Perhaps this is my subjective perception or a reflection of the state of my surroundings, but overall, I often hear that the year was not easy.

Yes, negative moments can toughen a person, but it is positivity, smiles, joy, and love that will always be the main driving forces of this world.

I look forward to the next year with great hope. We have big plans, especially related to the development of the hub, and I am confident that we will discuss our successes more than once.