The role of financial institutions needs to be strengthened

Financing is the foundation for the growth of fintech startups and innovation. To successfully attract investments, it is important to establish venture funds focusing on financial technology projects. This tool allows directing capital towards innovative projects in the financial technology industry. This includes creating state funds that will invest in early-stage startups.

It is also necessary to streamline the system for attracting large banks and corporations. If banks and large companies are interested in strategic investments in fintech, they will enhance their technologies and expand their customer base. Therefore, stimulating corporate investments in startups and technological companies is important.

It should be noted that significant work is already underway in this area. For example, the results of QIC in the fintech development field can be mentioned. The company places special emphasis on developing venture financing: it is a participant in 14 private capital funds, with a total capitalization of $2.3 billion, as well as 3 venture funds. The company invests and manages private capital in partnership with more than 50 international institutional investors, national wealth funds, and international financial institutions.

We will continue to develop the regional startup ecosystem. To this end, we will continue to strengthen cooperation with "Astana Hub" and other private organizations to promote the growth of export-oriented IT projects. By investing in domestic companies, "QIC" will help strengthen the financial stability of the state over time and enter a powerful market, becoming a significant taxpayer.

Erbolat Zholat,

Chairman of the Board of JSC "Qazaqstan Investment Corporation"

Source of information: egemen.kz