IT Park Uzbekistan and 500 Global expand cooperation

IT Park Uzbekistan and 500 Global have agreed to further expand cooperation.

The Minister of Digital Technologies of the Republic of Uzbekistan Sherzod Shermatov and the General Director of IT Park Uzbekistan Azamat Karamatov held a meeting with Pedro Santos Vieira, Managing Partner of 500 Global. This was reported by IT Park Uzbekistan.

The meeting discussed the development of the startup ecosystem in our country, increasing the volume of venture investments, and bringing Uzbek technology companies to international markets.

During the negotiations, the issue of coordinating the ongoing initiatives to support startups was also considered. Representatives of 500 Global expressed their interest in further participating in the development of the business environment in Uzbekistan.

500 Global is an international venture capital company that invests in rapidly developing technology startups and develops business ecosystems. The company implements international acceleration programs, including the 500 Global in Eurasia program for startups from the region. According to information, the company has about $ 2.3 billion in assets under management.

500 Global has previously invested in a number of Uzbek startups, including TASS Vision, IMAN, Cerberus, Tezbor, Talklabs and Unitlab AI projects. The total amount of investments in these projects is at least $ 600 thousand.

According to company representatives, 500 Global has been investing in technology companies and startups in the Uzbek market since 2021-2022. Among those who received investments, along with projects organized by Uzbek entrepreneurs, there are also startups of foreign founders operating in the country.

One of the areas of future cooperation may be the launch of programs to prepare startups in Uzbekistan to attract international financing. Such initiatives also involve expanding the contacts of local companies with foreign investors.

As part of 500 Global's long-term strategy for the development of Central Asia, the company plans to participate in supporting startups at various stages, from the initial stages to entering international investment markets.

The meeting also separately considered the conditions for the operation of venture funds in Uzbekistan. In particular, the issues of simplifying the movement of investment capital and increasing the efficiency of international funds in the local market were discussed.

Following the negotiations, the parties agreed to continue joint work on the systematic development of the Uzbek startup ecosystem, creating favorable conditions for venture investments, and bringing local technology companies to international markets.

For IT Park Uzbekistan, such cooperation will create additional opportunities for Uzbek startups to attract foreign capital, bring companies to new markets, and establish direct contacts with international investors.