Kazakhstan will start accepting applications for the innovation grant competition from August 1. It may involve small business representatives, the product of which must meet the main criteria. These are originality, scalability and export orientation, said Daniyar Bektenov, spokesperson for the “QazInnovations” National Agency. The competition is roughly divided into two stages. The first stage grant winner will receive up to 20 million tenge.
“The first stage includes follow-up of the product, the second one - full-fledged market entry. Competitors must meet five basic conditions. They must have a small business entity, they have to be prepared for co-financing, 10 percent if approved. They must have an MVP, that is, a prototype of their product, their team must consist of no more than five people, and they must have accelerated certificate,” Bektenov said.
Competitors should submit an application online by mid-September. Any legal entity registered in Kazakhstan is eligible for the grant. The main thing is that their product, process or service must meet the know-how concept.
“Unique initiatives that have no analogues in Kazakhstan or have not been produced before are considered innovations. It can relate to food or any process. For example, if you have a look at entrepreneurship from a different angle, you can make a new business model that no one has tried in Kazakhstan, or make a new product that is not popular in our market, but has a great potential to become such. Also, it could be an import substitution project,” Bektenov added.
