Startup developers from countries of Organization of Turkic States to undergo Silicon Valley internship
The Astana Hub International Technopark will provide a unique opportunity to undergo a Silicon Valley internship, meet the world’s best mentors and find investors to bring a product to the global market. 20 best startups will be selected from the countries of the Organization of Turkic States. To this end, the Astana Hub has signed an agreement with Draper University, which is a catalyst for success for many young IT companies in the world. Its alumni are taking their businesses to the next level, growing into the billion-dollar companies. The parties signed the agreement at an official visit of Kazakh Minister of Digital Development, Innovation and Aerospace Industry Bagdat Mussin to the U.S. in California. Applications can be submitted until April 17. At the first stage, the technology park representatives will select 80 participants, who will undergo a two-week acceleration program. But only a quarter of them will be able to stay in the global center for high technology and innovation for six months and adopt experience of the best international corporations.
“Draper University in Silicon Valley selects 20 best projects and invites their authors to come for six months. First, they study at the university for two months. Then they explore the ecosystem of Silicon Valley, look for investments, get acquainted with venture capitalists and professionals and build a partner network. This large-scale program, which allows startup developers to go directly to the heart of innovations for six months, is being launched for the first time not only in Kazakhstan, but also in the entire Central Asian region and the countries of the Organization of Turkic States,” explained Alina Abdrakhmanova, Managing Director of the Astana Hub.
The Astana Hub residents have a great advantage. The technopark offers a subsidy to cover most training costs.
“Participation cost in the program is US$25,000 for startups that are not from Kazakhstan and are not our residents. However, the Astana Hub provides subsidies in the amount of US$20,000 for those who decide to transfer their company to Kazakhstan or become residents of the Astana Hub. We will reimburse them US$20,000. Therefore, startup developers pay only US$5,000,” Abdrakhmanova added.
A total of 1,060 companies are currently residents of the Astana Hub, which have a number of advantages for the creation and development of their projects. This includes tax benefits and preferences, participation in acceleration programs, expert advice and PR promotion of the product free of charge.