AIFC Authority and 47Pitches have signed Memorandum of Understanding in the field of legal tech
The Astana International Financial Centre Authority and 47Pitches signed a memorandum to connect enterpreneurs across Central Asia with investors from the US. The initiative is part of the AIFC’s mandate to enhance investment into Kazakhstan, and to support enterprenuriasm and talent throughout the country and the region.
The cooperation of the parties is aimed at developing LawTech startups and projects both regionally and globally.
Specifically, the parties agreed to allow LawTech startups from Central to submit pitches into the 47Pitches platform, and gain access to investment, networking and mentoring opportunities.
The development of legal technologies based on the AIFC will improve the efficiency and quality of legal services, as well as make them more accessible in the region of Central Asia.
Mark Deuitch, Founder of 47Pitches, said:
“Building of the success of 47Pitches in the US, I’m delighted that we are now able to connect investors with the talented tech enterpreneurs throughout Kazakhstan and the Central Asia region. Legal Technology is hot, and one of the fastest growing areas for investment globally, and I’m delighted that the AIFC had the vision to identify the potential, and is leading the way globally in supporting legal tech development.”
Mark Beer OBE, Chairman of the AIFC Advisory Council on the development of LegalTech said:
“This memorandum is the first stage of the Council’s ambitious plans to make the AIFC the world’s leading hub for legal technology. By connecting investors with talent, and working with 47Pitches, we hope to create an enabling environment for the region’s lawtech enterpreneurs to flourish. I’d like to thank Governor Kelimbetov for his vision in establishing the Council, and all of my fellow Council members for their considerable efforts”
Reference:
Astana International Financial Centre was established on the initiative of the First President of the Republic of Kazakhstan – Elbasy Nursultan Nazarbayev as part of the National Plan “100 steps to implement five institutional reforms”. On July 2, 2020, as part of the meeting of the AIFC Management Council, the Center’s Development Strategy was adopted until 2025. According to it, the vision of the AIFC is to become a leading international financial centre in the region, including Central Asia, the Caucasus, the EAEU countries, Western China, Mongolia and Eastern Europe.
The mission of AIFC is to promote the sustainable long-term development of the region. As the Head of State noted, K.Tokayev, “The AIFC with its unique capabilities can act as a universal platform connecting the countries of the region.”aifc.kz
The 47Pitches is an operator and information platform, which connects start-ups and other projects with communities of accredited investors or end-user adopters and hosts elevator pitch competitions. https://www.47pitches.com/.
