Dear friends & partners,
We are delighted to bring you the latest news on startup ecosystems in the CAREC region. Our newsletter highlights various developments in the areas of startups, ICT, and digital transformation.
We would be happy to report on your organization’s work, so feel free to share your story or article with us. This newsletter is distributed to various stakeholders in the CAREC region. For more updates join our telegram channel: https://t.me/CAREC_digital
Regards,
Team CAREC
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Digitalization Policy and Initiatives
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 Azerbaijan rises in the global ranking of startup ecosystems
The Azerbaijan government’s innovation-to-activity tax rebate and the State Agency for Public and Social Innovations (ASAN) facilitation have boosted the startup ecosystem in the country. Universities have established incubation centers and startups are developing in the software and data, marketing and sales, as well as social and leisure spheres. Baku, the only ranked city in Azerbaijan, has increased 12 spots to 443rd globally, entering the top 450. It is also the 31st highest ranking city, and the 6th highest ranking non-Chinese city in the Central Asia Regional Economic Cooperation (CAREC) business region.
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 Kazakhstan, Azerbaijan discuss prospects for financial, economic cooperation
Astana International Financial Centre (AIFC) Governor Kairat Kelimbetov, Azerbaijan’s Economy Minister Mikayil Jabbarov, and Central Bank Chair Taleh Kazimov have discussed prospects for expanding financial and economic cooperation in a meeting. During the meeting, which is part of Kazakh President Kassym-Jomart Tokayev’s state visit to Azerbaijan, Kazakh officials discussed the main vectors of AIFC development. The officials also discussed the possible participation of Azerbaijan’s financial institutions and fintech startups in AIFC. AIFC acts as a regional platform for attracting investments and an ecosystem with regulations suitable for modern financial services.
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Opportunities and Upcoming Events
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5 00 Global Acceleration invites startup applications in Georgia
500 Global, a prominent international accelerator has launched 500Georgia in the CAREC region with the aim to strengthen Georgia's startup ecosystem, develop investment potential and scale-up startup companies in the global market. The activity is supported by the Bank of Georgia and the Agency for Innovation and Technology. 500 Global will run the acceleration program twice a year and end with a demo day. Start-ups from all over the world will participate in an intensive training course, and the winner of each stream will participate in an international program organized by 500 Global. The deadline for registration is September 5, 2022.
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 Google for Startups Accelerator registration now open
Tech giant Google has opened applications for its accelerator program that will help startups in Southeast Asia and Pakistan to solve and tackle their technical challenges. The Google for Startups Accelerator program is looking for 10 to 15 startups in the seed or series A stages that are based in Indonesia, Malaysia, Pakistan, Singapore, Thailand, Vietnam, or the Philippines. The program will accept applications from startups that operate in e-commerce, finance, healthcare, SME-focused B2B solutions, education, agriculture, and logistics. Interested startups may apply until October 7.
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Startup Ecosystem Initiatives
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South Korean delegation shares ways to develop a startup ecosystem, attract investment in Uzbekistan
Representatives of the IT industry in South Korea have paid a working visit to Uzbekistan. The delegation attended several events, including a visit to the IT Park, for the implementation of the project “Creating the foundation and strengthening the potential for sustainable development of IT Park in Uzbekistan.” During their visit, the Korean delegation shared their experience in developing startups and the recommended methods to attract investments.
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Kyrgyzstan enters Global Startup Ecosystem Index 2022 for the first time
The Kyrgyz Republic entered the Global Startup Ecosystem Index 2022 for the first time, landing at the 100th spot, according to StartupBlink analytical center, which monitors startups annually. The country also ranked second in Central Asia and seventh in the regional economic rating. The Global Startup Ecosystem Index this year assessed the startup ecosystems of 1,000 cities and 100 countries.
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Survey held among social entrepreneurs in Azerbaijan
As part of an EU-funded project, a survey was held among social entrepreneurs working for the promotion of healthy lifestyles and well-being, employment of rural women, education opportunities for the youth, and environmental services in Azerbaijan. The survey aims to better understand the profile of social enterprises, the challenges they mostly face, and the support they need. Results of the survey will be used in creating policy recommendations that will support social entrepreneurship.
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About CAREC Program
The CAREC 2030 Strategy emphasizes the integration of information and communication technology (ICT) across the CAREC Program’s spectrum of operations. As part of its CAREC Digital Strategy 2030 implementation and upcoming initiatives, efforts are being made to accelerate digital adoption in the Program’s five operational clusters.
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