The world’s top-10 start-ups will participate in Fintech Stars, the international accelerator programme launched by the AIFC

AIFC Authority

14 February 2018 00:00:00

The world’s top-10 start-ups will participate in Fintech Stars, the international accelerator programme launched by the AIFC in cooperation with Seedstars and MOST Business Incubator.

Assel Zhiyenbayeva, Chief Digital Officer of “AIFC Authority” JSC noted that the accelerator programme is aimed at collecting innovative solutions and creating a platform for interaction between the world's fintech companies. The mission of the accelerator program is to support start-up entrepreneurs in the field of financial technologies.

“The launch of the accelerator programme in Kazakhstan in conjunction with one of the best international companies like SeedStars, which has extensive experience with start-up projects, will help us achieve the set goals for the development of the financial technologies’ ecosystem,” A. Zhiyenbayeva commented.

The programme will enable 10 start-up projects to receive funding; entrepreneurs will be able to get a unique opportunity to work on their projects with the best international field experts, they will be trained on successful business process implementation and working in a competitive market. The educational part of this program is the key to the development of effective and successful start-up projects.

Seedstars representative Igor Ovcharenko pointed out that after completing the programme, start-ups can get an investment of up to $350,000 USD from Seedstars Investor Club, the MOST Business Angels Association and partners, depending on their success, accelerator and growth.

“We are delighted to launch our first accelerator programme in Central and Eastern Europe and start in Kazakhstan because here an AIFC-based unique infrastructure in terms of the legal framework and state support for start-ups is being created. We hope that using our international experience and networks, fintech start-ups, which will be accelerated, will get a boost to the rapid development,” I. Ovcharenko said.

Alim Khamitov, CEO of the MOST Business Incubator said: “MOST has built a professional mentoring expertise, gathered the best specialists from around the world and Kazakhstan, and accumulated these people in the Fintech Stars project to work together on the financial direction. In the accelerator programme, we provide start-ups with local expertise and mentors; participate in their training, create networks, bringing start-ups to customers and partners in the Kazakhstani market”.

Applications from Kazakhstan, Central Asia, the Middle East, Transcaucasia, EEU, Europe, China, and Mongolia will be accepted within 6-7 weeks since March 1st. As a result, the organizers will select the top-10 teams which will receive seed investments of $20,000 USD. In the next three months, comprehensive training and development of projects will take place, where international mentors will help and participate in the development of projects. Based on the results of the final "Demo Day", start-up projects will have the opportunity of additional financing and access to local and international markets. The programme will be launched on April 23 and will end on July 4th.

Application forms will be available online at www.fintechstars.kz

Reference:

AIFC. In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional law “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to form a leading international centre of financial services. For the first time in post-Soviet Region, Common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.

The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, to develop local capital markets, to ensure their integration with the international capital market, and to develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan. www.aifc.kz

Seedstars World is a part of the Swiss group Seedstars and runs the global start-up competition covering 65+ emerging and developing markets. Its mission is to impact people’s lives in emerging markets through the promotion and investment in entrepreneurship and technology.

Seedstars Investments funds high impact technology entrepreneurs in emerging markets. It leverages on the ground presence and network that covers 80 markets to discover the best early stage ventures and provide value from idea to the later stage. Entrepreneurial talents are truly global but currently lack the resources to develop fully. Our mission is to enable high growth tech firms to thrive in emerging markets.

Seedstars Growth Programme is a three-month virtual accelerator programme focused on growth and traction. It selects top start-ups from emerging markets that are ready to invest in growth. Rather than taking you out of your market, it brings the expertise virtually, so you remain close to your market. It brings in a wide variety of experts focused on growth marketing, product optimization, user testing, sales, fundraising and more. It teaches you the best methodology to accelerate your start-up and be ready to raise Series A.

MOST Business incubator is a platform for the creation and development of the business. Company's mission is to nurture a new generation of outstanding entrepreneurs for the prosperity of the world community. The uniqueness of the company's approach is the interaction of 3 key components: counseling and training of young entrepreneurs, access to finance and mentoring.