The founders of ten startups from Central Asia have gotten the opportunity to study in Silicon Valley under the AlchemistX Accelerator program. According to Kazakhstan’s Ministry of Digital Development, Innovations and Aerospace Industry, seven startups are from Kazakhstan.
Among the winning teams from Kazakhstan are the following:
- Cybernet.ai is a scientific and research company engaged in AI and big language models. It creates B2B SaaS contact centers based on AI, where bots can’t be distinguished from humans;
- Parqour cuts capital and operational costs for parking fivefold worldwide with its AI solution that reads license plates, processes mobile payments and provides real-time analytics;
- Axellero.io is a powerful, AI-driven rapid application development (RAD) platform. It empowers customers to build fully-fledged web and mobile applications within several hours;
- Relog.ai develops B2B SaaS to facilitate delivery activities;
- Flowsell.me is a service designed to stimulate repeat purchasing by sending notifications, managing client reviews and helping businesses effectively retain customers;
- JobEscape is an educational platform offering various professional courses, including AI applications in different areas;
- Biometric.vision develops business solutions based on facial recognition technology and AI to implement the KYC principle (know your customer).
Among the winners, two companies are from Uzbekistan: Workly, a cloud interactive solution for work time accounting and PointAI, a multichannel service for client support on WhatsApp; and one winner is from Kyrgyzstan – LoadConnect, a service improving the efficacy of cargo shipping.
The training will start on August 12 and last until the end of October. All participants should be registered in Kazakhstan or the AIFC, have a client base and be fluent in English.
Alchemist Accelerator has supported successful entrepreneurs for more than ten years. The program focuses on developing B2B startups from Kazakhstan, Kyrgyzstan, Uzbekistan, Tajikistan, Turkey, Mongolia, Azerbaijan and Georgia.
Last year, Astana Hub and Silkroad Innovation Hub, with support from the Digital Ministry and the World Bank, launched the AlchemistX & Silicon Valley Residency Program. This initiative aims to promote Central Asian startups as a cohesive region in Silicon Valley, potentially raising about $300 million in investments over five to seven years. The program aims to foster at least five unicorns valued above $1 billion in the region.
The training program spans five months and takes place in Silicon Valley. Its main goal is to help promising startups enter the American market. Participants receive assistance in securing early contracts, raising funds, conducting client research, training with experienced speakers and coaches, finding accommodation in the U.S. and gaining access to the local IT community.
The AlchemistX & Silicon Valley Residency Program consists of two blocks. The first is the AlchemistX Accelerator, where the aforementioned ten startups will participate. The second is the Silicon Valley Residency Program, with participants yet to be chosen.
In mid-July, Digital Minister Zhaslan Madiyev stated that by 2029, Kazakhstan aims to establish five unicorns, boosting its IT exports to $5 billion annually, and selling at least 25 AI products across various industries annually. These goals are outlined in the Concept for Artificial Intelligence Development.
In 2023, Kazakhstan’s export of «computer services» reached $529 million, marking a 57% increase from 2022 ($337 million). Overall, the export of IT services has increased tenfold over the past three years, from $50 million in 2020. The primary markets for Kazakhstani IT exports include the U.S., Russia, the UAE and Cyprus.
In March 2024, Uzum, an Uzbekistani e-commerce company, became Central Asia’s first unicorn, raising $114 million from investors. Uzum operates an online shop, fintech services and food delivery.
