Oriented on making people closer

The latest cycle of the initiative for the development of the startup movement in Turkmenistan has come to its conclusion. The 12th cohort of the StartUp Academy business incubation program, organized in partnership with the International Technology Park of the Academy of Sciences of Turkmenistan, has been completed.

In honor of the completion of this latest incubation program, a significant event, Demo Day, took place on May 31, 2025, at the "Iş Nokady" coworking space located within the "Arkaç" business center. Participants, guests, and invited experts witnessed young teams present their projects, on which they had been working for the past month and a half. The Demo Day program was attended by over 180 guests, including representatives of business circles, innovation experts, mentors, and alumni of previous StartUp Academy cohorts. An additional 150 individuals joined via online broadcast. The event served not only as a platform for project presentations but also as a venue for establishing business connections, exchanging experiences, and fostering inspiration.

Five startup teams, having passed the selection process, training sessions, and consultations, presented their projects as part of the competitive segment. Throughout the program, participants worked on creating business and financial models, analyzed the market, developed monetization strategies, and learned to formulate clear investment proposals. They received support from experienced mentors and specialists from various business sectors, including finance, marketing, technology, and project management.

The projects were evaluated by a professional jury comprising well-known entrepreneurs and business experts. Based on the evaluation results, the top three startups were selected, distinguished by their high level of preparation, clear understanding of their target audience, and potential for scalability. Participants received feedback from the jury, which is particularly valuable for the further growth and adaptation of their projects to real market conditions.

The jury's top selections were:

• 1st place – “MEMO” startup (augmented reality in advertising), founder Mergen Jumaev;

• 2nd place – “Masenflu” startup (innovative method for learning conversational English), founder Dunyagozel Amanmuhammedova;

• 3rd place – “Jam Creative” startup (scientific theater for children), founder Vasiliy Andronov.

The organizers emphasized that all teams, despite the diverse themes of their projects, share a common goal: the aspiration to create solutions that bring real benefits to society and address contemporary challenges.

As part of its 5th-anniversary celebration, StartUp Academy also presented a panel discussion in which five experienced startup founders shared their experiences and motivations with newcomers. Furthermore, a presentation of the Digital StartUp Awards program, with a prize fund of $100,000 USD from IT-Park Uzbekistan, served as evidence of active international cooperation.

The Demo Day was made possible through the support of the event's sponsors and partners: “Arçalyk”, “Ak Sahypa”, “Ynamdar.com”, “Kuwwatly Energiýa Hyzmaty”, “Däp”, “Beg Ýupek”, and “Tehnopark”, who made significant contributions to the organization of the event and the development of startup initiatives in the country.

StartUp Academy continues to expand the horizons of youth entrepreneurship development in Turkmenistan, creating conditions for the growth of a new generation of innovators. The Academy not only provides knowledge and practical experience but also fosters a community of like-minded individuals ready to move the country forward through technology, creativity, and business. Ahead lie new cohorts, new ideas, and new success stories.

StartUp Academy was founded in 2020 on the initiative of Galina Kalagina and Daniil Maykovskiy with the aim of supporting young entrepreneurs in Turkmenistan and helping them navigate the path from idea to a fully-fledged, viable business. Over its five years of existence, the Academy has established itself as a key platform for the development of the startup ecosystem in the country.

ORIENT

Photo: orient.tm