Acceleration of projects, investments, and promotion of IT product exports were discussed at the official opening of Al-Farabi Scale UP

On November 8, the Al-Farabi Scale UP accelerator program for startups ready to conquer the Saudi Arabian and Middle Eastern markets opened at Astana Hub. More than 100 participants — business representatives, startups, IT specialists, and journalists — discussed the prospects for exporting Kazakh IT products.

Speakers at the event included representatives from the Ministry of Digital Development and Aerospace Industry of the Republic of Kazakhstan, Plug and Play Tech Center Saudi Arabia, the World Bank, Astana Hub, Al-Farabi Innovation Hub, Astana International Financial Centre (AIFC) Tech Hub, and QazTech. The First Deputy Minister of Digital Development and Aerospace Industry of the Republic of Kazakhstan, Kanys Tuleushin, noted that the markets of Middle Eastern countries are strategically important for the development of exports by Kazakh IT companies.

During the official part of the event, a memorandum of cooperation was signed between Al-Farabi Innovation Hub and Plug and Play Tech Center to further develop opportunities for startups from Kazakhstan, Central Asia, and the Caucasus.

White Hill Capital and more than 10 Saudi venture funds are ready to invest in successful projects with local presence. If there are projects that failed to submit an application or did not pass the selection, the hub is ready to support these startups through consultations and networking within other programs.

Abdullah Al-Aqil, Director of Plug and Play Tech Center Saudi Arabia, and Andrea Azolari, Project Manager, added that now is the right time to enter the Middle East — a region that attracts IT entrepreneurs with active development and favorable business conditions, including tax incentives and programs to support women in IT.

In early October, Al-Farabi Innovation Hub announced the first cohort of the program, to which participants from 10 countries in the region applied. The accelerator will offer these startups a rich educational program, sessions with expert mentors, support at every stage, and access to unique partnership opportunities. The second stage of the program will take place in Riyadh, where startups can interact with key players in the Saudi Arabian and other regional markets.

Al-Farabi Scale UP has become a significant platform for inspiring ideas and a new wave of technological development, opening international horizons for startups from Kazakhstan and the entire region.