The Science Fund, a Kazakhstan national scientific and technological development institute, signed a Memorandum of Understanding with Southeast Asian VC firm Quest Ventures to bolster the country’s startup and innovation ecosystem.
The collaboration will leverage their combined expertise and resources as well as strengthen linkages between the public and private sectors.
The Science Fund will leverage the extensive international network of Quest Ventures for research commercialisation while Quest Ventures will draw from a deep pool of top scientific talent and ideas.
The MOU was signed in Astana between Abdilda Shamenov, Chairman of the Board of the Science Fund, and James Tan, Managing Partner of Quest Ventures.
Shamenov said: “With a significant presence in Singapore and across Asia, Quest Ventures brings valuable international experience, best practices and an extensive network that aligns with our key goals of strengthening the local technology commercialisation and venture capital ecosystem.”
Tan added: “As the startup and innovation hub for Central Asia, Kazakhstan has produced many game-changing ideas for the region, and more will come. The Science Fund’s pool of resources is testament to the quality of research and defensibility of businesses that can be created.”