The Committee on Science, Education, Innovative Development, and Information Technologies, as well as Youth Affairs of the Jogorku Kenesh of the Kyrgyz Republic held a meeting where a draft law concerning venture financing was reviewed and approved. This decision was made in the first reading.
The initiator of this draft law was the Cabinet of Ministers. Deputy Head of the National Investment Agency, Zhalyn Zheenaliev, emphasized that the goal of the draft law is to improve the investment climate in the country and encourage venture investments in startups and innovative enterprises. This involves creating a favorable legal framework and providing guarantees for investors that meet modern market requirements and international standards in the field of venture activities.
The draft law proposes the introduction of new terms such as "venture financing," "venture investor," "venture manager," "venture fund," "business angel," "startup," "option agreement," and "option pool."
During the discussion, Deputy Bolot Saginayev highlighted the importance of developing mechanisms that facilitate attracting venture investments in startups and regulating the operations of venture funds. Deputy Saltanat Amanova raised questions regarding the specifics of venture financing, including the minimum and maximum sizes of the authorized capital of venture funds.
Gulsharkan Kultaeva also expressed concern about the requirements for the organization and regulation of venture fund activities, emphasizing the need for increased oversight due to the risks of unscrupulous behavior by some participants.
Committee Chair Toktobubu Ashymbaeva noted the importance of increasing the number of business angels in the country, as well as the conditions necessary for creating venture funds and supporting startups, especially those that are developed based on higher educational institutions.
