IT startups have graduated from the accelerator by Astana Hub and Google for Startups increased their income
12/20/2022, Tallinn // KISS PR Brand Story PressWire //
Astana Hub, an international technopark for IT startups, summarized the results of the second enrollment of the Silkway Accelerator, a joint program between Astana Hub and Google for Startups.
Twelve of the fifteen startups successfully completed the program, having shown rapid growth in three months. One of the Kazakhstani participating startups has already aimed to become a unicorn.
“The second wave of the Silkway Accelerator has been successfully completed. The startups have done a great job: they revised their business models and export markets as well as signed contracts with new clients, which has resulted in an expansion of their audience and revenues increase. The performance is truly impressive and that may be an indicator of the program’s effectiveness,” stated Magzhan Madiev, CEO of Astana Hub.
Biometric, a KYC and client digital onboarding service based on biometric verification, increased its monthly revenue from 2 million tenges to 23 million tenges.
The myMind virtual clinic specializing in dementia risk factors and early signs identification by means of neurocognitive testing signed a contract with the largest clinical diagnostic laboratory in Kazakhstan, entered the Kyrgyz market, created a new test results interpretation product and a new offline product as well as made deals with two pharmacy chains.
The value of EasyTap, an online service for ordering stores and restaurants hourly workers, skyrocketed from 4 million tenges to 15 million tenges and its monthly revenue increased from $20,000 to $40,000. At the same time, despite the number of employees having been reduced from 19 to 9, the company’s efficiency grew, they found 14 new partners, the service margin increased from 5% to 15%, and the number of users rose from 5,500 to 10,000 with zero marketing budget.
“It is the first time I have led two enrollments one after the other, and it was not easy. I want to thank the whole accelerator and ministry teams for the development and remarkable implementation of this project. I wish success to the startup teams and founders. This is just the beginning. You have done a difficult job. I wish you the best results and the highest achievements,” said Alisher Khasanov, the Silkway Accelerator lead and an international consultant specializing in development and market launch of products, services and companies.
Within the accelerator, the Neuron Oil software suite developers team reduced the sales cycle from 18 to 3 months and signed a preliminary agreement for a $50,000 deal with an option to increase it up to $450,000 in case of primary success.
Floboom, an online floral products marketplace, created a legal entity in the USA, involved the first florists from New York and adapted the product to the local market during the period of the accelerator.
InStroy, a construction and repair trading platform, made its first sales of 3 million tenges and grew its turnover by 30 million tenges.
Within the accelerator, Sxodim significantly increased its revenues, having earned 141 million tenges in 3 months, in comparison with the 170 million tenge income of the first 8 months of a year. Its ticketing service grew the monthly revenue from 15 million tenges to 50 million tenges.
Not only Kazakhstani startups participated in the Silkway Accelerator program. Avlo.shop, an Uzbek SaaS platform providing creative tools for small and medium-sized businesses online stores, changed its business model, increased its monthly revenues from $570 to $3,000, and started large contracts initiation.
The Planet9 Tajik startup signed its first contracts for $70,000 and started working on entering new markets.
The second wave of the Silkway Accelerator offline program started on September 2 in Astana and has taken three months, just like the first wave. In addition to mentoring, the participants were also provided with free accommodation near Astana Hub, workspace and a chance to receive funding up to $55,000 within the Seed Money program.
With the support of Kazakhstan’s Ministry of Digital Development, Innovation, and Aerospace Industry, Astana Hub became the first partner of the Google for Startups program in Central Asia earlier this year. The two waves of accelerator programs have already been successfully held for participating startups from Central Asia, Azerbaijan and Mongolia.
Google for Startups is a startup program launched by Google Corporation in 2011. It consists of over 50 coworking and accelerators in 125 countries and provides practical lessons for aspiring entrepreneurs.
Astana Hub is an international technopark for IT startups. It creates conditions for the development of technology companies. The mission of Astana Hub is to become a centre of innovative projects, produce breakthrough IT companies and become an attraction point for young and talented IT specialists.
Gulmira Kanaffina
PR-manager of Astana Hub
+7 701 222 47 07
pr@astanahub.com
Kazakhstan, Astana
Source: Story.KISSPR.com
Release ID: 471287
This content is published on behalf of the above source. Please contact them directly for any concern related to the above.
This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.