Kazakhstan to launch fund to support startups

ASTANA. KAZINFORM - President of Kazakhstan Nursultan Nazarbayev suggested creating a special fund that will support youth startups, Kazinform reports.

"Many developed countries have special funds for implementation of ideas put forward by youth. I charge the Government together with large business companies, oligarchs and national companies to establish a special fund that will support youth startups," said President Nazarbayev while addressing the unveiling ceremony of the Year of Youth in Astana on Wednesday.

Earlier the Head of State entrusted the Kazakh Government with outlining the Young Entrepreneur Program and earmarking 32 billion tenge for business grants for young entrepreneurs.