Startups in the CAREC Region

A project supported by the Republic of Korea e-Asia and Knowledge Partnership Fund

Dear friends and partners,

This is the inaugural edition of the monthly newsletter on initiatives relating to startup ecosystems in the CAREC Region. The newsletter, which is prepared by the CAREC Secretariat, will highlight relevant developments on startups and related sectors such as information and communication technologies and digital transformation.

We welcome you to share activities from your organization to be included in this newsletter. The newsletter will be shared with various institutions across the CAREC region, including organizations in the private sector, government agencies, multilateral banks, media outlets, non-governmental agencies, and others.


CAREC Digital Initiatives

The CAREC Program has ICTs (Information and Communication Technology) as a cross-cutting priority in the CAREC 2030 Strategy.

As part of its commitment to support the development and integration of ICTs, the CAREC Secretariat has launched initiatives to improve digitalization across the region. These initiatives will support the ongoing work on mainstreaming digitalization in CAREC clusters, which includes work in e-trade and e-commerce, digital health, e-tourism, smart energy systems, etc. As part of this work, the CAREC Secretariat is preparing a regional digital strategy to develop its long-term vision for the digitalization process.

To deal with the uncertainty regarding the circumstances relating to the pandemic and address the shift to virtual work, the CAREC Program is taking efforts to upgrade its ICT and connectivity infrastructure via a ‘Virtual CAREC’ initiative.

Lastly, the CAREC Program is also supporting the digital economy by focusing on the development of innovative ideas by developing startup ecosystems in the region. With the COVID pandemic demonstrating the opportunities and gaps in the digital economy, the CAREC Program is ready to use digital technologies to address these issues and aid the region’s economic recovery.

CAREC Members Dicuss
The CAREC Digital Strategy 2030

On 25th and 28th June, CAREC member countries discussed the proposed CAREC Digital Strategy 2030.

Senior government representatives shared their national digital priorities, opportunities, and challenges. They deliberated on the collective vision and approach needed for the strategy to effectively develop the digital economy and reduce the digital divide.

The consultation was opened by Mr. Safdar Parvez (Director, Asian Development Bank) and was facilitated by the CAREC Secretariat.

The 500Georgia Program

500Georgia is an accelerator program, supporting top talent in Georgia and the region. The program will be run in three phases:
  1. Two cohorts with 15 startups each will join the first stage for a four-week boot camp focused on foundations of growth, followed by a minimum of eight weeks of remote experimentation.
  2. Half of these companies will return for six weeks of intensive training, followed by continued support for up to 12 weeks after completion of the 500Georgia program.
  3. The top 1-2 companies from each cohort will be selected to participate in an immersion trip to San Francisco. It will also include a combination of intensive and remote training over the course of seven months.
For details, please follow this link.



Azerbaijan 500 ASAN Startup Program 

Azerbaijan has launched the Azerbaijan 500 ASAN Startup program.

The goal of the program is to create enthusiasm and give impetus for innovative entrepreneurship among potential startup developers in the country. 

For details, please follow this link.



Mongolia Startup Map

Mongolia Startup Map has 11 startups, and the most popular startups in Mongolia are Anduud LabLLC, Chimege, and Jamuha.

Mongolia ranks 93 globally among 202 countries, based on the strength of its startup ecosystem. The most vibrant startup ecosystem in Mongolia is in Ulaanbaatar.

The most popular industries in Mongolia are Software and Data, Fintech, and Health.

To see the map, please visit this

About The CAREC Program
The Central Asia Regional Economic Cooperation (CAREC) Program is a regional cooperation initiative consisting of 11 member countries and development partners and aims to promote development through cooperation, leading to accelerated economic growth and shared prosperity.

CAREC member countries include Afghanistan, Azerbaijan, the People’s Republic of China, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan.

The CAREC Program is guided by the
CAREC 2030 Strategy, which consists of work on five clusters (Economic and Financial Stability, Trade Tourism and Economic Corridors, Infrastructure and Economic Connectivity, Agriculture and Water, Human Development) and three cross-cutting themes (ICT, Gender, and Climate Change).
For further communications, please contact us at
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The Central Asia Regional Economic Cooperation (CAREC) Program is a partnership of 11 countries and development partners working together to promote development through cooperation, leading to accelerated economic growth and poverty reduction. It is guided by the overarching vision of "Good Neighbors, Good Partners, and Good Prospects." The purpose of this communication is to apprise you of various CAREC activities. If you wish to stop receiving these emails you may unsubscribe anytime.

Our mailing address is:
CAREC Program Asian Development Bank, CAREC Unit 6 ADB Avenue Mandaluyong City 1550 Philippines