Central Asia Venture Fund invites entrepreneurs of Turkmenistan to its club
21 July 2021
Entrepreneurs of Turkmenistan were invited to become members of the private venture fund of Central Asia MOST Ventures, which seeks to support regional business projects in the field of information technology.
- Our fund includes at least one representative from each Central Asian country. We very much hope that we will have the same representative from Turkmenistan - a person or an organization that will engage in venture capital investments professionally,”said Alim Khamitov, Managing Partner of MOST Ventures, speaking online at an event within the Business Opportunities for Mentoring and Investments project in Ashgabat.
Venture funds are associations of people who are ready to financially support risky but potentially highly profitable business projects of start-up entrepreneurs.
- Someone might say that the market in Central Asia is not ready for the development of venture investment. There is no relevant legislation, there are no other conditions. But a more important thing has been formed in our region - human capital. We have committed people who come up with amazing projects,” Khamitov said.
The development of venture financing in Turkmenistan is facilitated by the Union of Economists of the country, which is implementing several projects in this direction with the support of the United States Agency for International Development (USAID).
It is expected that within the framework of the events held by the Union, the first national community of business mentors and venture investors will be formed in Turkmenistan, which will support the ideas of enterprising Turkmen youth and contribute to the implementation of innovative business ideas in the country.