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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.
Regards,
Team CAREC
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Digitalization Policy and Initiatives
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AIxADB: Harnessing the Power of Artificial Intelligence for Development
AIxADB: Harnessing the Power of Artificial Intelligence for Development organized by the ADB, on 4-8 November 2024, in Singapore. AIxADB serves as a platform for collaboration and knowledge exchange to explore cutting-edge solutions, learn from successful case studies, identify pilots for implementation under the ADB AI Sandbox Program, and support DMCs to manage the transition for AI adoption through policies, skilling, and capacity enhancement. This event happened alongside the Singapore Fintech Festival (SFF) and highlighted AI's transformative potential in guiding the Asian Development Bank’s developing member countries (DMCs) toward a prosperous, inclusive, resilient, and sustainable future.
CAREC Secretariat brought a diverse group of 15 delegates from the CAREC region to the AIxADB event. This gathering brought together leaders and innovators to explore AI's transformative potential in development, and our delegates represented a strong cross-section of stakeholders from government, the private sector, and rising young talent.
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CAREC Seminar on AI-Driven Transformation in Digital Trade and E-Commerce
On 26 September 2024 in Hangzhou, Zhejiang Province, People’s Republic of China, this session explores the transformative role of Artificial Intelligence (AI) in digital trade and e-commerce, focusing on how emerging technologies can reshape trade across CAREC countries. Co-organized by the CAREC Secretariat (ADB) and the Hangzhou Bureau of Commerce, the event convened experts, government officials, and private sector leaders from across Central Asia to discuss policy frameworks, AI applications in cross-border trade, and strategies for fostering regional collaboration. Key topics include AI-driven innovations, supply chain optimization, digital payments, and public-private partnerships.
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The Digital Trust Summit 2024: Pioneering the Future of Digital Identity and Compliance in Georgia
The Digital Trust Summit 2024, hosted by Identomat in Tbilisi, marked a transformative event for the Georgian Fintech and Trusttech markets and its burgeoning digital landscape. As a gathering that connected fintech leaders, regulators, and tech innovators, the summit underscored Identomat's leadership in advancing secure, compliant, and efficient digital solutions. This event was pivotal not only for Identomat but also for its' partners, that jointly strengthen Georgia's status as a regional hub for digital innovation and economic progress.
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Kazakhstan’s Digital Strategy for 2029 and Beyond – Minister Zhaslan Madiyev Talks AI and Startups
Kazakhstan recently launched an initiative, the Venture Fund of Funds, with an initial capital of $130 million, with a target of reaching $1 billion. The purpose of this fund is to attract global venture capital expertise to Kazakhstan, specifically focusing on growth-stage investments. The fund aims to help Kazakhstan’s startups scale and compete on a global level by providing them with the necessary resources to expand.
The primary objectives of this initiative include bringing international technology expertise to the country, supporting talent, and ensuring that local startups become competitive in the global market.
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Mongolia and EBRD partner to advance digital economy and infrastructure
Mongolia is strengthening its digital economy through a promising alliance with the European Bank for Reconstruction and Development (EBRD). The Mongolian government is prioritising digital development as part of its larger developmental agenda by undertaking two major projects focused on digitalisation. Central to these efforts is the development of a legal framework for big data and artificial intelligence to safeguard and efficiently manage digital processes.
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Opportunities and Upcoming Events
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Uzbekistan to Showcase Investment Opportunities at Uzbekistan Tech Conference in Dubai
Leading outsourcing and technology companies, investors, and venture capital representatives from Uzbekistan will participate in the international conference in Dubai organized by the Ministry of Digital Technologies of Uzbekistan and IT Park Uzbekistan. IT Park will present key initiatives to develop the country's IT ecosystem during the event, including startup support programs, tax incentives for foreign companies, and mechanisms for expanding IT exports. This event will reaffirm Uzbekistan's status as a rapidly growing tech hub and open new avenues for international collaboration.
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Startup Ecosystem Initiatives
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CAREC University Startup Generator 2024
On August 28, 2024, the Central Asia Regional Economic Cooperation (CAREC) Program hosted the Regional Finals of the CAREC University Startup Generator 2024 (USG2024), a virtual event highlighting the entrepreneurial potential of university students across the region.
The event marked the culmination of a two-month journey for 202 teams, representing around 440 students from ten CAREC countries, who worked on innovative solutions related to Sustainable Development and Digital Innovation.
This initiative is a key component of the CAREC Digital Strategy 2030, aiming to foster a sustainable innovation ecosystem in the region.
This activity is supported by TA 6602-REG: Supporting Startup Ecosystem in the CAREC Region to Mitigate Impact of COVID-19 and Support Economic Revival with support from Republic of Korea’s e-Asia and Knowledge Partnership Fund. Read more.
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Pakistan Venture Connect 2024: "Connecting Innovators, Igniting Collaboration"
Organized by the CAREC Secretariat, Pakistan Venture Connect 2024 “Connecting Innovators, Igniting Collaboration”, held on 10-11 October in Islamabad, Pakistan. This remarkable event brought together an impressive lineup of visionary leaders, venture capitalists, and startup ecosystem stakeholders from across the CAREC region, including Azerbaijan, Kazakhstan, and Pakistan.
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Digital Almaty 2025 Explores AI Transformations, Business Growth
The 7th International Digital Almaty Forum gathered global tech leaders, officials, and investors for an extensive program exploring artificial intelligence’s (AI) transformative impact on governance and cybersecurity industries from Jan.31 to Feb.1. The event culminated in the highly anticipated Industry AI Battle, where startups competed for a $60,000 prize.
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Peshawar Digital Fest 2025 concludes with key opportunities for students and entrepreneurs
The three-day Peshawar Digital Fest 2025, held from January 14 to 16 at the University of Agriculture Peshawar, concluded on Thursday as one of the largest IT and entrepreneurial events in Khyber Pakhtunkhwa.
The event offered significant opportunities, including 50 job openings, 1,000 free digital marketing training sessions, and the potential for attendees to earn up to $500 monthly through freelancing.
Organized by Metrix Pakistan and Safe, the event featured a variety of activities, including sessions on artificial intelligence, cybersecurity, IT training, digital marketing, e-commerce, and freelancing. It also included a Talent Award Show, hackathons, a job fair, startup stalls, and a food gala.
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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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