55 Group, which as the name implies, is a group of companies dedicated to advancing entrepreneurship and the entrepreneurial mindset in the emerging Tajikistan ecosystem. As a GIST Innovation Hub, 55 Group will work to learn what it can from ecosystems around the world in order to better support the growth of entrepreneurs in Tajikistan.
Entrepreneurship is still very much a new concept in Central Asia, in part because many of these economies were under Soviet control until the early 1990’s. As Farrukh Hojatov, international and investment issues manager at 55 Group, explained, Tajikistan did not begin diversifying its largely agrarian economy until the collapse of the Soviet Union. This has created unique challenges for startups in the region – challenges 55 Group is working to address.