Central Asian Innovation Hubs Makes a Global Impression at WebSummit Lisbon 2024

Central Asian Innovation Hubs, a collaborative alliance between IT Park Uzbekistan and Astana Hub Kazakhstan, is making a powerful debut at world’s largest tech event WebSummit Lisbon 2024, featuring a regional showcase of 15 promising startups. 

This unified presence underscores a shared vision to position Central Asia as a premier destination for technology and outsourcing. The exhibit brings attention to impactful projects, partnership opportunities, and a growing startup ecosystem that has taken root across Uzbekistan and Kazakhstan. 

“Central Asia is fast emerging as a significant player on the global tech stage, showing immense potential to produce new unicorns and foster a vibrant entrepreneurial landscape," says Farkhod Ibragimov, CEO of IT Park Uzbekistan. "At Central Asian Innovation Hubs, we are dedicated to creating opportunities that connect our ecosystem with global innovation leaders, incubators, accelerators, funds, and investors. By bridging these connections, we aim to accelerate the region's tech development, channel investments into our ecosystem, and unlock new growth avenues for tech entrepreneurs. The initiatives we’re spearheading aren’t just about economic growth; they’re about ensuring that the region’s brightest minds have the support, resources, and network needed to compete on a global scale. Through collaborations and partnerships, we’re building the foundation for Central Asia to become a global hub for technology and innovation.”

Showcasing Uzbekistan’s vibrant tech innovation at WebSummit Lisbon 2024 are startups like:

• DATALAB LLC: Empowers businesses with advanced data analytics solutions to optimize operations and enhance decision-making processes.
• Sharh: A customer feedback platform using AI to improve brand loyalty by analyzing consumer needs in real time.
• iWatt: A leader in smart energy management, providing tools for households and businesses to optimize energy use and support sustainable practices.
• Finco: Focuses on financial inclusion through digital banking solutions like microloans and e-wallets for underserved markets.
• Online Nurse: A telehealth platform connecting patients with healthcare professionals for convenient virtual consultations.
• Paylov: Streamlines online transactions with a secure, user-friendly payment gateway, ideal for e-commerce businesses.
• IMAN Global: Provides Sharia-compliant financial services for the Muslim community.
• Cradle Vision Tech: Uses AI and machine learning to deliver industry-specific automation and productivity solutions.

These startups, supported by UNDP, represent the country’s rapid growth in technology, aiming to make a mark on the global stage with solutions across AI, smart energy, digital banking, telehealth, and more.

“We are committed to building a robust ecosystem for the growth of tech businesses and startups in Central Asia. Partnerships with global players such as Google for Startups, Draper University, Presight.AI, and Alchemist Accelerator provide our residents with unique opportunities, while our acceleration programs—Hero Training, Silkway Accelerator, and Scalerator—help entrepreneurs reach new heights. Startups in Central Asia are demonstrating impressive success: Citix became the first project from the region to secure investment from prominent American venture investor Tim Draper, achieving a valuation of $98 million. Similarly, Uzum received $114 million in funding, achieving unicorn status with a valuation of $1.16 billion. We are witnessing Central Asia evolve into a hub of innovation, poised to make a confident entry into international markets with highly competitive companies,” said Magzhan Madiyev, CEO of Astana Hub.

At WebSummit Lisbon, several Kazakh startups are also presenting groundbreaking solutions, including:

• Extrum Technologies (Oraclus): Delivers high-quality solutions across web technologies, blockchain, and more.
• ZebraEye: An AI-powered software dedicated to diagnosing rare eye conditions.
• ProsperPay Kazakhstan: A provider of Earned Wage Access services in Central Asia.
• Hired Valley: A platform designed to connect university students with employment opportunities.
• Foqus: An AI platform delivering actionable insights across industries through specialized behavioral intelligence.
• Beyim Tech: An AI-based training platform functioning as a social network for personalized micro-education.
• ESG Track: A monitoring platform that tracks sustainable performance, employee status, and financial results.

IT Park Uzbekistan and Astana Hub’s joint presence at WebSummit Lisbon 2024 shines a spotlight on a collaborative tech ecosystem that’s taking shape across Central Asia. Supported by forward-looking government policies, this ecosystem is setting up Central Asia’s startups for success on a global stage, opening doors to investors and markets worldwide. With a talented workforce and a strategic location bridging Europe and Asia, Central Asia is well-positioned to become a force in the global tech scene. WebSummit Lisbon 2024 is a big step in this journey, revealing the region’s potential and signaling a bright future for Central Asia’s tech-driven economy.