Startups in the CAREC Region
                                                                                October Edition

Dear friends & partners,
This is the October edition of the monthly newsletter on initiatives relating to startup ecosystems in the CAREC region. The newsletter, which is prepared by the CAREC Secretariat, highlights 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 is 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.

Virtual 2nd Consultation Meeting with Member Countries on
CAREC Digital Strategy 2030

On 23rd and 24th September, CAREC member countries’ representatives provided feedback on the draft CAREC Digital Strategy 2030, which was revised based on initial consultations with them and private sector representatives.

They deliberated the strategy’s framework and pillars and the best practices to implement suggested digital platforms effectively. The CAREC Secretariat organized the event.

For details, please follow this link

Energy Efficiency Innovation Challenge 

This start-up competition is part of Central Asia’s Energy Investment Forum 2021: Investing in Energy Efficiency. The forum will take place on 2 December 2021 and is Central Asia’s flagship event to enable private investments in the energy sector. Register for the forum here.

If you have an innovative business idea or solution that can contribute to lowering energy consumption, reducing energy bills at the household or industrial level, reducing greenhouse gas emissions, creating jobs, or reducing demand for energy imports, Energy Investment Forum (EIF) wants to hear from you!

The deadline for applications is 1 November 2021 at midnight Manila time. 

Techstars Startup Week Georgia

Techstars Startup Week™ brings entrepreneurs, local leaders, and friends together over five days to build momentum and opportunity around your community’s unique entrepreneurial identity.

The inaugural Techstars Startup Week Georgia began on Tuesday, September 28, 2021, and will be adjourned on Monday, October 4, 2021.

The Week is organized by Tbilisi Startup Bureau, with support from Georgia’s Innovation and Technology Agency (GITA), and Adjara Group along with other sponsors which will be held in Tbilisi City Hall, Sector 3, Prodemos.

For details please follow this link

AIFC Tech Hub Unveils
Startup Ecosystem of Kazakhstan Report

The AIFC Tech Hub was created to unite global start-ups, entrepreneurs, corporations, investors, experts, and specialists in the field of innovation. The development of fintech at the AIFC includes programs for start-up support, corporative innovations, the venture capital market, specially developed rules, and regulators that allow testing products and solutions in the field of fintech.

The report presents the results of the survey of more than a hundred startups and interviews with local experts. 

According to the report, most startups that have entered the market over the past two years belong to three main sectors including e-commerce, EduTech, and FinTech.

 For details please follow this link

About 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. The CAREC 2030 Strategy emphasizes the integration of information and communication technology (ICT) across the CAREC Program’s spectrum of operations. Through its upcoming digital initiatives, efforts are being made to accelerate digital adoption in the Program’s five operational clusters. These initiatives will also support innovation and entrepreneurship to promote economic growth, create new jobs, and improve access to services. The Program is harnessing startup ecosystems at the regional level to encourage activity and collaboration with the private sector.
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The purpose of this communication is to apprise you of various activities in the CAREC region relating to startup ecosystems, digitalization, and information technology.

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