Initiated by the Communications and Information Technology Authority, a public-private partnership working group was established two months ago to develop the recommendations for the Government to support the startups in the international market. Today / May 21, 2021 /, the working group handed over its outcomes and conclusions to Kh. Gankhuyag, Member of Parliament, Member of the Standing Committee on Innovation and e-Policy. The recommendations developed by the working group will be submitted to the Government.
During the event, Kh. Gankhuyag, Member of Parliament and Member of the Standing Committee on Innovation and e-Policy, said, “The Government led by L. Oyun-Erdene has been focusing on E-transition since its formation. The draft Law on Public Information, the Law on Personal Information, the Law on Cyber Security, and the Law on Digital Signatures have been submitted to the Parliament. The draft law on virtual assets was submitted yesterday. The issue of establishing an innovation and information technology-free zone near Ulaanbaatar and Darkhan is included in the action plan of the Government.”
Zolzaya, a founder of Dreamers and Startup Marketing Space LLC, said, “On March 20, the Communications and Information Technology Authority registered three online public-private partnership working groups. The private sector and citizens voluntarily registered and joined the working groups. Our working group was given the task of developing a plan for how the government would support the emergence of IT startups in an international market. Our working group consisted of 18 people has been surveying the founders of more than 100 IT companies for a month, developing a plan, and handing it over today. In the future, let us raise our voices, rather than criticizing the Government from the outside, it is better to establish cooperation with the Government and develop a think tank policy system that will build collaboration and inclusion of the community. We work with the Parliamentary Standing Committee on Innovation and e-Policy, the Communications and Information Technology Authority, and the Ministry of Education, Culture, and Science. The draft law on Establishment of the free economic zone of IT start-up business in Mongolia, initiated by MPs N. Uchral and D. Tsogtbaatar, will be submitted soon.”
B.Zolbadral, CEO of iHotel LLC, presented the research and findings of the working group.
The working groups agreed on followings:
In the near future:
- Conduct research and liaise with foreign companies through the Embassies and the Consulates abroad.
- Establish volunteer business representatives in potential countries, conduct market research through them, and establish contacts with companies and individuals in need.
- Facilitate the process of travel to Mongolia for internships and exchange of experience from foreign organizations and universities (visas and residence permits, etc.)
- Regularly publish information about companies and products in major foreign publications.
- Provide the latest information on the adoption and amendments of the Laws with translation to foreign investors and experts.
- Organize regular networking activities with foreign investors (accompanying the Government on foreign visits, arranging meetings with investors).
- Creating a reliable ecosystem that connects the public and private sectors.
In the medium term:
- Create a “Sandbox” environment for testing by foreign and domestic technology companies.
- Open access to international financial and payment infrastructure such as Paypal, Stripe, Plaid, Moopay, and Coinbase.
- Organize regular exchange programs with international companies.
- Support companies that create technological innovations through innovation support programs and funds.
- Provide regular information, training, and understanding on how to invest in a start-up business to local investors.
- Organize regular events to bring foreign businesses to Mongolia in an integrated manner.
- Introduce start-ups and exchange experiences with potential foreign and domestic partners in cooperation with international organizations.
- Select a small number of quality start-ups and support them from all sides.
In the long term:
- Support with a long-term low-interest, non-collateralized loan.
- Tax exemptions
- Discounts and exemptions from social insurance premiums
- Get support from larger private companies to support start-ups.
- Human resource policy support in the ICT sector
- Establish the Ministry for ICT
- Work and research in specific targeted regions.
- Or choose a direction that suits our capabilities.
- Start a campaign and create content to promote our country and our IT companies