How to Make Sure Everyone Knows About the Venture Capital Market Research in Central Asia and the Caucasus
Project PR Manager: Jeanna Skripal
Background
In February 2024, our client, investment holding EA Group, partnered with a comprehensive study on the venture capital market in Central Asia and the Caucasus. We were tasked with disseminating the research findings across media outlets in over 6 countries: Kazakhstan, Uzbekistan, Kyrgyzstan, Azerbaijan, Georgia, Russia, Europe, and the USA.
A key challenge was to orchestrate the entire process while keeping all research authors and partners informed at every stage.
The research involved 6 companies: RISE Research (lead author), EA Group, BGlobal Ventures, Crunchbase, KPMG Caucasus and Central Asia, with participation from the Ministry of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan..
While we had been collaborating with EA Group for over six months on various projects, this initiative significantly expanded our geographical scope and stakeholder engagement.
Our standard approach was no longer sufficient – we needed expert media communications tailored to the cultural nuances of diverse countries and markets.
Our mission: Communicate key research findings to a broad audience across 6+ countries while preserving the interests of all project participants.
Strategy and Implementation
PR Approach
We developed a multifaceted PR plan, customized for each target country and market:
Identified key media outlets for each region, pre-discussing publication possibilities with journalists.
Focused on adapting materials to suit different markets and cultures. For instance, we emphasized local growth metrics for Central Asia and the Caucasus, while for Russia and the West, we highlighted general trends in comparison to their markets.
Prepared press releases based on the research findings. We created 6 versions in Kazakh, Russian, Uzbek, Georgian, Azerbaijani, and English.
We also considered the unique communication preferences of journalists in each country. For example, we contacted Kazakhstani media a couple of days before the release, while Western outlets were approached several weeks prior to the official research publication.
Kazakhstan
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Uzbekistan
English-language media
Kyrgyzstan
Azerbaijan
Georgia
Russia
Project Management
Given ITCOMMS' experience in all the aforementioned markets, project management was our primary concern. It was crucial not only to synchronize all participants but also to consider their individual visions and objectives.
Our workflow:
Created a project map outlining main stages, deadlines, and responsible parties.
Compiled a list of media outlets for key countries and assigned responsibilities.
Prepared and coordinated press releases with partners, focusing on key markets for each company.
Primary communication with partners was managed through our team and colleagues from RISE Research.
Press release distribution was launched on the day of the official research publication. It was vital to ensure journalists from different countries received the report results simultaneously.
Several ITCOMMS team members, each familiar with specific market nuances, worked on the distribution:
Kazakhstan, Russia, USA, and Europe – Zhanna Skripal, Madina Rakhimova, and Gainel-Khayat Shakirova
Uzbekistan – Zarnigor Usmanova and Farida Islomova
Kyrgyzstan – Daria Golovina
Azerbaijan and Georgia – Alina Morozova
This well-structured process, with clear stages, deadlines, and responsibilities, led to excellent results. In addition to press release distribution, our team assisted partners in inviting press to the report presentation at Astana Hub.
Results
12.9 million total reach of publications according to monitoring systems
68+ publications, including top-tier media in Kazakhstan, Uzbekistan, Kyrgyzstan, Azerbaijan, Georgia, and industry-specific media in Europe and the USA.
The research findings were covered by influential Kazakhstani (Kursiv, Kapital, Forbes, etc.), Uzbek (Daryo, Aniq, etc.), Kyrgyz, Azerbaijani, and Georgian publications.
In the West, the report was featured in Yahoo Finance, Crunchbase, Emerging Europe, and other media outlets. As a bonus, we secured publications in Russia, which was initially not part of the plan.
Conclusion
ITCOMMS' approach to PR communications enabled comprehensive and effective coverage of the venture capital market research in Central Asia and the Caucasus. Despite the broad geography and multiple stakeholders, we successfully conveyed key information to audiences in different countries in their languages, considering local nuances.
The campaign's success was ensured by meticulous planning and execution: material adaptation, selection of the most effective media and formats, establishing journalist relationships, and coordinating with all partners.
This strategy resulted in extensive, high-quality media coverage worldwide.
Adilbek Kamiyev, Head of EA Ventures, a venture division within EA Group:
The ITCOMMS team proved invaluable in disseminating our research across various countries. Their expertise in cross-cultural communications, flexible approach, and ability to consider all stakeholders' interests allowed us to effectively present our results in completely new markets.
Ainur Zhanturina, founder of RISE Research:
Thanks to ITCOMMS's professionalism, the research results were widely covered in different countries, which significantly expanded our audience. I'd like to particularly note the team's proactive approach and efficiency, which made our collaboration extremely productive.
Jeanna Skripal, PR Manager at ITCOMMS and Project Curator:
This project demonstrated the importance of not only understanding local market specifics but also correctly structuring the work process itself. I particularly enjoyed the PR subject – the research. It was a pleasure to share with journalists from different countries the impressive achievements of companies in Central Asia and the Caucasus.
Interested in implementing a similar project? Contact us at welcome@itcomms.io to discuss!
This article has been translated from Russian to English by an AI language model. While efforts have been made to ensure accuracy, there may be nuances or idioms that do not perfectly translate. The original Russian article should be referenced for the most precise content.