In the United Arab Emirates, there are over 20 startups established by entrepreneurs originating from Central Asia.
The Central Asian startup market is garnering global attention, presenting increasing opportunities for international investors.
According to data from RISE Research, a company specializing in market analysis, research, and consulting in the fields of fintech and venture capital within the CIS and Central Asia region, the volume of venture capital investments in Central Asia grew to USD 96 million in 2024. This represents a 7% increase compared to 2023.
Aynur Zhanturina of RISE Research noted that Kazakhstan maintains its leading position and remains the most active venture capital market in Central Asia, accounting for 74% of the total investment volume in the region. Foreign investments originated from the UAE, as well as the USA, the United Kingdom, Saudi Arabia, Singapore, and other countries.
Uzbekistan demonstrated the most significant growth, with investment volume increasing 2.7 times to reach $17.5 million across 38 deals. The average deal size quadrupled to $460,000.
Since 2022, Kyrgyzstan has attracted $1.7 million with an annual growth rate of 19 percent. The country is notable for its high level of participation of women entrepreneurs.
Accelerators and hubs are the leaders of Kyrgyzstan's venture market in terms of the number of investments made (over 50%), however, the majority of the investment volume (66%) was attributed to venture funds, most of which are located abroad.
In 2024, Tajikistan attracted USD 4.6 million, focusing on Islamic fintech technologies.
The development of the venture market was facilitated by tax incentives for startups in IT Park Dushanbe and the launch of a venture fund amounting to USD 5 million.
Among the key sectors attracting venture capital investments to the region in 2024, artificial intelligence, fintech, and educational and medical technologies are leading.
Analysts predict further growth of the Central Asian venture market in the coming years, noting its high potential and gradual integration into the global ecosystem.
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