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ENTREPRENEURIAL ECOSYSTEMS: THE KEY TO SUSTAINABLE BUSINESS DEVELOPMENT Yesturliyeva A., *Zhailaubayeva Z., Mangibayeva D.
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Abstract

This article examines the role of the entrepreneurial ecosystem in Kazakhstan as a key element for achieving sustainable economic growth and diversifying the economy. It analyzes existing international practices of successful ecosystems, such as Silicon Valley, Israel, and Singapore, to identify strategies applicable to the Kazakh context. The article discusses the main challenges faced by startups in the country, including reliance on raw materials, a lack of innovative sectors, and limited access to capital. Recommendations are presented for improving government support, developing startup infrastructure, and preparing qualified personnel, with an emphasis on the need to implement green technologies. The study highlights the importance of collaborative efforts among the government, private sector, and educational institutions to create a favorable entrepreneurial ecosystem that fosters innovative development and sustainable economic growth in Kazakhstan.

Keywords

entrepreneurial ecosystem, sustainable economic growth, startups, government support, green technologies, venture financing, entrepreneurial environment

Issue: 3-2024

About the Authors

Yesturliyeva Aigul

Candidate of Economic Sciences, Associate Professor, Head of the Department of "Economics", Yessenov University, Aktau, Republic of Kazakhstan


E-mail: aigul.yesturliyeva@yu.edu.kz

*Zhailaubayeva Zhadra

PhD student, Yessenov University, Aktau, Republic of Kazakhstan

E-mail: zhadra.zhailaubayeva@yu.edu.kz

Mangibayeva Dina

Candidate of Economic Sciences, Yessenov University, Aktau, Republic of Kazakhstan

E-mail: dina.mingibayeva@yu.edu.kz