Kazakhstan’s $1 Billion Venture Capital Fund: A Game-Changer for Tech Innovation

Kazakhstan is taking a bold step into the world of venture capital with the announcement of a new Fund of Venture Capital Funds. Prime Minister Olzhas Bektenov revealed the ambitious plan during a meeting with venture capital experts, business leaders, and international partners on December 19, 2024.

The fund aims to attract $1 billion in private investment over the medium term, positioning Kazakhstan as a major player in the global tech ecosystem. Already, large Kazakh businesses have pledged over $100 million as initial capital, demonstrating strong domestic support for the initiative.

Zhaslan Madiyev, the Minister of Digital Development, Innovation, and Aerospace Industry, highlighted Kazakhstan's dominance in the Central Asian venture capital scene, accounting for over 70% of the region's deals. The country has seen a remarkable sixfold increase in venture capital volume over the past five years, reaching $80 million.

The fund's strategy focuses on investing in leading global, regional, and Kazakh venture funds, ensuring diversification and access to critical technologies. Key areas of interest include artificial intelligence, digital health, and other cutting-edge tech sectors. With the global AI market projected to reach $827 billion by 2030, the fund is well-positioned to capitalize on this growth.

Prime Minister Bektenov emphasized the importance of creating an environment that retains local talent, supports startups at all stages, and attracts global expertise to Kazakhstan. This initiative opens doors for entrepreneurs, investors, and tech professionals looking to tap into the burgeoning Central Asian market.

As Kazakhstan sets its sights on becoming a regional hub for innovation and technology, this new venture capital fund could be the catalyst that transforms the country's economic landscape and attracts international attention to its growing tech ecosystem.

read more ... https://astanatimes.com/2024/12/kazakhstan-to-establish-1-billion-venture-capital-fund-backed-by-private-investment/

OpenAI has taken a bold step in making artificial intelligence more accessible by integrating ChatGPT with WhatsApp and launching a phone service. This move brings the popular AI chatbot to billions of users through familiar communication channels.

WhatsApp users can now chat with ChatGPT by simply adding a designated phone number to their contacts. To get started, open WhatsApp, add a new contact with the number +1 800-242-8478 (which spells out 800-CHATGPT). Save the contact as "ChatGPT" or any preferred name, and you're ready to start a conversation.

For those in the United States, OpenAI has introduced a toll-free number (1-800-ChatGPT) that allows voice conversations with the AI assistant. This service offers 15 minutes of free interaction per month for anyone dialing from a US number, making AI engagement as simple as making a phone call.

While the WhatsApp version comes with some limitations - it only supports text conversations, has a knowledge cutoff date of September 2021, and can't be added to group chats - it provides a straightforward way for users to experience AI without needing to create an OpenAI account.

To use ChatGPT on WhatsApp effectively, keep your messages clear and concise for better responses. You can ask follow-up questions or request clarifications in the same chat thread. Remember that there may be daily message limits, although the service is free to use.

This expansion is part of OpenAI's broader strategy to reduce barriers to AI adoption and showcase its potential to a wider audience. By leveraging familiar platforms like WhatsApp and traditional phone calls, OpenAI aims to make AI technology more approachable and less intimidating to the average user.

As AI continues to evolve and integrate into our daily lives, initiatives like this play a crucial role in democratizing access to advanced technologies. While the current offering is described as experimental, it represents a significant step towards making AI a more common and accessible tool for people around the world.

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