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![aerial view of city buildings during night time](https://images.unsplash.com/photo-1620527966018-5da90d7b80d2?ixlib=rb-4.0.3&ixid=M3wxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHx8fA%3D%3D&auto=format&fit=crop&w=1000&q=80)
 Most people know Mongolia for its unique nomadic history, but the quality of Mongolian startups might soon make the country famous for its innovation as well. Mongolia’s startup ecosystem is still developing, but it has the potential to greatly impact and transform the local economy. A surge in investment, human capital, and digital connectivity creates an opportunity for this East Asian country to fortify its gains from agriculture and mining and take advantage of the demand for IT to create a startup ecosystem in its capital city, Ulaanbaatar. ==read-more==
 While Mongolia started its digital reforms before the COVID-19 pandemic hit, the process was accelerated during the crisis. As a result, the country has now developed the platform [E-Mongolia](https://e-mongolia.mn/home), following Estonia’s model of e-governance. Such reforms are aimed at reducing bureaucracy, improving transparency, and offering faster services, and could also prove beneficial for the startup scene. 
 The majority of the population lives in the capital city, Ulaanbaatar, and it is home to several startup support organizations contributing to the development of the city's startup ecosystem. One of those organizations is the [Business Innovation Agency of Ulaanbaatar Municipality](https://bida.ub.gov.mn/) that aims to promote the development of business and innovation through implementing projects and programs. 
 Another stakeholder, [Startup Mongolia](https://startupmongolia.org/?fbclid=IwAR1Gq_NcJsi3_ceJgsFv-s_ZyuK8RE_DKLqdIn-DoJyMYqDCIggefi979Fw), is an NGO that supports the development of the Mongolian ecosystem by offering resources and networking opportunities to the startup scene. It is also encouraging to see events such as Startup Week Ulaanbaatar take place, which is a sign that the ecosystem is maturing. The nation is also activating its young talent with initiatives such as the [Youth Business Mongolia](https://www.youthbusiness.org/member/development-solutions-mongolia#:~:text=About%20Youth%20Business%20Mongolia&text=The%20aim%20of%20the%20programme,and%20run%20a%20successful%20business.) program. 
 The Mongolian startup ecosystem still faces a number of challenges in terms of physical infrastructure and access to finance. Regardless, the Mongolian government is actively supporting the growth of entrepreneurship, and prioritizes innovation as a substantial engine of growth for the country.

Mongolia

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IT Hub co-working space

Ulaanbaatar

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As the innovation hub of the Asia-Pacific region, Taiwan is renowned for its outstanding high-tech R&D capacity, highly-trained professionals, and thriving networks of entrepreneurs which enable our  startup ecosystem to achieve steady continuous growth.

Director General, Department of Academia-Industry Collaboration and Science Park Affairs

We've seen the startup ecosystem of Moscow rapidly mature in the  last years. Having a dedicated startup agency has been instrumental in helping to deliver the right support services to entrepreneurs, investors and talent.

Startup Ecosystem Comparative Analysis

In the recent years, Moscow has become a gravity centre for the most talented people not only from Russia and Eastern Europe, but from all over the world. Such concentration of professionals affirms Moscow as one of the global “cities of the future”, world centre for the development of breakthrough technologies, particularly in IT.

The Moscow Agency of Innovations was established to create a truly favorable environment for the advancement of technology in Moscow.

2016

The Skolkovo Innovation Center and Skolkovo Foundation was signed into law with a goal to goal is to create a sustainable ecosystem of entrepreneurship and innovation.

2010

Avito, a classified ads website and now a unicorn, first went online.

2007

The Moscow Seed Fund, a VC which invests in see and pre-seed startups, was established.

2005

Yandex search engine was launched!!!!

1997

CAREC Startup Hub is launched

2022

CAREC Ministerial Conference endorses CAREC Digital Strategy 2030

2021

CAREC Secretariat launches technical assistance on startups and digitalization

2020

CAREC 2030 Strategy endorsed and includes ICT as cost-cutting sector for CAREC Program

2017

CAREC Institute establishes office in Urumchi, PRC

2015

CAREC program approves 6 projects amounting to $247 million under energy, trade, and transport sectors

2001

ADB officially establishes CAREC program

Technical assistance to promote regional economic cooperation in Central Asia is approved

1996

Запуск CAREC Startup Hub

 Министерская конференция ЦАРЭС одобряет Цифровую стратегию ЦАРЭС 2030

Секретариат ЦАРЭС запускает техническую помощь стартапам и цифровизации

Гендерная стратегия ЦАРЭС до 2030 года одобрена всеми странами-участницами

Институт ЦАРЭС получает правовой статус и Стратегия ЦАРЭС-2030 включает ИКТ в качестве сектора для Программы ЦАРЭС

Создана физическая база Института ЦАРЭС

Одобрено шесть проектов ЦАРЭС на сумму $247 млн

АБР официально учредил программу ЦАРЭС

Одобрена техническая помощь в продвижении регионального экономического сотрудничества в Центральной Азии

CAREC

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