Kazakhstan’s authorities want to expand Astana Hub at the expense of another fund

The Autonomous Cluster Fund Innovative Technologies Park (PIT) and the International Tech Park Astana Hub are set to merge. Kazakhstan’s parliament has already approved the move.

According to Minister of Digital Development Zhaslan Madiyev, the merger aims to optimize state support tools and scale up the best practices of Astana Hub.

During a parliamentary session on the issue, MP Yerkin Abil noted that PIT has a reputation for the ineffective use of public funds and the launch of questionable startups. He questioned who would bear responsibility for identified financial violations if the fund were dissolved.

The last audit of PIT revealed that more than $9.7 million had been allocated for the creation of five research centers and one venture fund within PIT. However, all these centers proved ineffective, and $5.9 million was simply wasted.

«The Supreme Audit Chamber has recommended passing all these findings to law enforcement agencies for further proceedings,» Madiyev said in response to the MP’s question.

However, the minister dismissed the notion that PIT’s unstable financial condition was the key reason for combining the tech parks.

«I believe that merging the ecosystems will allow us to scale up and distribute the experience and knowledge of Astana Hub,» he said.

For this reason, the upcoming transition does not create any additional conditions for financial violations or fraud.