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The Central Asia Regional Economic Cooperation (CAREC) Program is a partnership of 11 countries and development partners working together to promote development through cooperation, leading to accelerated economic growth and poverty reduction.

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Comparative Analysis of CAREC Member Country’s Ecosystem

The rankings are derived from a methodology by StartupBlink. Download the latest report
Rows per page
CAREC Rank & Change▲
CAREC Rank & ChangeGlobal Rank & ChangeCountryTotal ScoreQuantity ScoreQuality ScoreBusiness Score
1st
0
10th
-
3
China
20.663
1.97
16.04
2.65
2nd
+
2
73rd
+
7
Georgia
0.931
0.29
0.13
0.51
3rd
0
74th
+
2
Kazakhstan
0.910
0.26
0.14
0.50
4th
-
2
76th
-
1
Pakistan
0.717
0.21
0.24
0.27
5th
0
81st
+
7
Mongolia
0.582
0.22
0.08
0.28
6th
0
85th
+
4
Azerbaijan
0.494
0.18
0.06
0.26
7th
0
100th
new
Kyrgyzstan
0.258
0.09
0.06
0.12
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Notable Startups
startup iconDianrong
startup iconWacai
Top Coworking Spaces
startup iconHuddle Co-working Space
startup iconMakerHive
startup iconStartup Terminal
Top Accelerators
startup iconBrinc
startup iconBatumi Business Incubator
startup iconSocratus start up Studio
Notable Organizations
startup iconStartup Georgia
startup iconStartCo
startup iconADB Ventures
View complete CAREC startup ecosystem database

CAREC Ecosystem Landscape

Taxes and Incentives
    • Alif Bank is a FinTech company as well as one of the largest funding round investors in Central Asia, with 90% market share in Tajikistan and 33% in Uzbekistan.

    • Zhongguancun Science Park’s Angel Investor projects are ranked #1 in China.

    • Microsoft Ventures has funded $235 million USD to provide guidance and funding to cloud-computing firms in China.

    • Growth in Georgia” is a $65 million USD grant allocated by USAID to support employment and accountable governance in Georgia. The grant has the potential to increase to$330 million over the next five years.

    • Companies located in the Astana Hub, the High Tech Park, and free economic zones are eligible for tax breaks.

    • STEP awarded $30,000 to Social Startups in Pakistan.

    • Pakistan’s largest fundraising by an early-stage tech startup was achieved by Bazaar Technologies Pvt, which raised $30 million.

    • Zameen is in the top 5 property portals in the world raising over $31.5 million in funding.

      Investor Landscape

      • ADB has invested over $14.97 billion in CAREC development projects since 2001;

      • Overall, $40 billion worth of investments have been made collectively by ADB, development partners, and the CAREC governments since 2001;

      • Between 2005 and 2030 the region must invest up to $9.7 trillion in the energy sector;

      • The CAREC 2030 Plan proposes establishing an agency for multilateral trade credit and investment guarantees;

      • Until 2030, CAREC members have set out to stimulate private sector investments and cross-border investment within member countries;

      Notable events

      • Startup Weekends in Zavkhan, Tajikistan, Turkmenistan, Uzbekistan, Georgia

      • ITB China Startup Award

      • Central Asia’s Energy Investment Forum 2021

Read more about CAREC startup ecosystem

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