The Science Fund, a Kazakhstan national institute for scientific and technological development, has on Monday announced that it has signed an agreement with Singapore-based venture capital firm Quest Ventures to bolster the vibrant emerging startup and innovation ecosystem in the country.

The Science Fund said in a statement that the firm and Quest Ventures have signed a Memorandum of Understanding to embark as knowledge partners to drive startup innovation and investments in the country.

According to the statement, the collaboration will leverage their combined expertise and resources as well as to strengthen linkages between the public and private sector.

The Science Fund will leverage the extensive international network of Quest Ventures for research commercialization while Quest Ventures will draw from a deep pool of top scientific talent and ideas.

“We are excited to join forces with Quest Ventures in our pursuit of innovation and growth in the startup industry,

“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 commercialization and venture capital ecosystem,” said Abdilda Shamenov, Chairman of the Board of the Science Fund.

The Kazakhstan Science Fund is the national institute for development, contributing to the full scientific and technological cycle from idea to commercialization.

The mission of the Science Fund is to build a knowledge-based economy by assisting scientists and entrepreneurs in scientific research and its commercialization.

“We are delighted to collaborate with the Science Fund to support the technology and innovation ecosystem in Kazakhstan,

“As the startup and innovation hub for Central Asia, Kazakhstan has produced many game-changing ideas for the region, and more will come,” said James Tan, Quest Ventures Managing Partner.

According to him, the Science Fund’s pool of resources is testament to the quality of research and defensibility of businesses that can be created.

“We look forward to working with their scientists to create global impact,” he added.

Quest Ventures is a venture capital firm in Asia. Its portfolio of 100+ venture-backed companies operate in more than 150 cities across Asia.

The firm’s portfolio companies include industry leaders such as, Carousell, Carro, Glife, Hepmil/ PGAG, Oddle, Shopback, VulcanPost, Xfers, and Kraver’s Canteen.

Its enterprise innovation clients include Applied Materials, Coca-Cola, HP, Nissan, and Tencent.

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