ASTANA HUB COMMERCIALIZATION PROJECT

Abstract

This paper examines alternatives and recommendations for the commercialization of the international IT technopark "Astana Hub". Astana Hub established in 2018 operates on the basis of government funding and provides its services on a free-of-charge basis. To become a self-sustainable organization, the technopark plans gradual commercialization via the provision of paid services. Investigating data from interviews with heads of Astana Hub structural units, materials on Astana Hub services and products, financial statements, and essentially study on commercialization models of similar technoparks around the world, this study demonstrates that Astana Hub possesses the necessary resources and services for commercialization. The analysis showed that Astana Hub's currently available products ensure several commercialization options. The most viable options could be the adjustment of the current revenue generation model, switching the business incubation program's compensation from Revenue Sharing to an Equity Stake model, and establishing a syndicate investing initiative with Astana Hub's partners. The paper provides recommendations for commercialization model and key measures for its successful implementation.