Presight AI, a G42 company and the leading UAE-based Big Data Analytics and AI company, has signed a Memorandum of Understanding with Astana Hub, the largest international technology park for IT startups in Central Asia, to power venture financing deals for startups.
Industry sources added that this partnership will permit the Presight and Astana Hub to enable startups from Kazakhstan, Azerbaijan, Mongolia, and Central Asia to accelerate their business journey, drive growth through innovation, and extend their reach to the Middle East and African markets.
Additionally, Presight will aid these startups through a series of business initiatives and joint programs to further empower them.
The MoU is an extension of the agreement between G42 and the Ministry of Digital Development, Innovation, and Aerospace Industry of the Republic of Kazakhstan, which was announced at the Digital Bridge International IT Forum 2022. The MoU was signed by Thomas Pramotedham, CEO of Presight, and Magzhan Madiyev, CEO of Astana Hub.
Thomas Pramotedham said: “Astana Hub has an amazing track record of driving a thriving ecosystem of innovation and startups within Kazakhstan and the region. This partnership sees Presight as a key venture partner and accelerator of Astana Hub, alongside Google, and Binance, extending our drive to bring innovative technologies into our portfolio.
Industry sources further affirmed that Presight will work alongside Astana Hub to introduce a series of programs and access to industry experts to elevate startups’ ideas and scale up their businesses.
Our deep expertise in big data analytics that is powered by AI will help startups from Astana Hub position themselves to create real-world impact. Our venture support will catalyze innovation and bring ground-breaking research to new markets, especially in CIS countries.”
Magzhan Madiyev said: “In light of this new agreement with Presight, our startups will have access to a new source of venture financing. Startups at Astana Hub will be able to benefit from Presight’s position as an emerging leader in digital transformation and big data analytics, which will be an important step in developing our ecosystem and expanding our IT startups in foreign markets.”
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