The International Technopark of IT startups Astana Hub will finance Ukrainian IT startups in Kazakhstan in the amount of up to $ 47,000. AIN.UA was informed about this by representatives of Astana Hub.
- Funding is provided using the revenue share (equity free) model. Thus, the selected startups undertake to pay 2% of the income from the project, where: 1% – payment within 3 years after the funds are disbursed (within the framework of the financing program); 1% – payment of fees (as a member of Astana Hub).
- As noted, Astana Hub participants receive tax preferences. In return, they are required to deduct 1% of their income in favor of the hub.
Based on the selection results, 35 best projects will receive funding. The size of the grants differs depending on the stage:
- startups at the MVP stage will be able to receive up to $ 12,000;
- Product/market fit – up to $24 000;
- Scale – up to $47 000.
Those teams that receive Seed Money must become members of the Astana Hub tax regime and conclude a financing agreement.
What startups are looking for
- Astana Hub is looking for projects in the IT field that correspond to the priority activities of the hub.
- In particular, an emphasis on projects related to the development, implementation, maintenance, development, modification and implementation of software and software products, as well as maintenance of information systems. A detailed list can be found here.
- An IT startup must be at one of the stages: MVP, Product / market fit, Scale.
- The team must have at least 3 key members.
To receive funding from Astana Hub, you need to go through 6 stages of selection: initial consideration of the application, diagnostics, selection of projects for presentation, pitch presentation, the decision of the commission, conclusion of an agreement.
What is required from Ukrainian startups
In a comment for AIN.UA, Astana Hub representatives noted that there are no restrictions on the provision of services only in Kazakhstan. This means that any Ukrainian IT startup can apply for participation in the selection.
In case of a positive decision, in order to receive funding, the applicant will need to open a representative office in Kazakhstan (or in the Astana International Financial Center).
At the same time, teams will need to go through the Techpreneurs acceleration program, which involves working with a personal tracker and experts for the further development of the project. Since meetings with them can take place in person, this will require being in the city of Nur-Sultan. Here, the technopark provides for the provision of jobs in the Astana Hub pavilions for up to 6 months on a free basis.
The company also becomes part of the IT ecosystem of Kazakhstan through residency in Astana Hub, respectively, it is expected to contribute to the development of the IT industry of the country.
How to apply
To apply for participation in the selection, you must fill out an application in Russian, English or Kazakh:
- projects at the MVP stage can leave an application until September 18, 2021;
- Product/market fit – until September 4 via link.
- Scale – until August 21 via link.
The Astana Hub clarifies that the applicant can be both an individual and a legal entity. At the same time, there are no restrictions on the country of residence, that is, the applicant can also be both a resident of the Republic of Kazakhstan and a non-resident.