IT Park Uzbekistan and 500 Global to expand cooperation

IT Park Uzbekistan and 500 Global are expanding their partnership.

Uzbek Minister of Digital Technologies Sherzod Shermatov and IT Park Uzbekistan CEO Azamat Karamatov met with 500 Global Managing Partner Pedro Santos Vieira, according to IT Park Uzbekistan.

During the meeting, the parties discussed the development of Uzbekistan's startup ecosystem, increasing venture capital investments, and the entry of Uzbek technology companies into international markets.

The discussions also focused on coordinating ongoing startup support initiatives. 500 Global representatives expressed interest in further participating in the development of Uzbekistan's entrepreneurial environment.

500 Global is an international venture capital firm specializing in investing in high-growth technology startups and developing entrepreneurial ecosystems. The company implements international acceleration programs, including 500 Global in Eurasia for startups from the region. The company manages approximately $2.3 billion in assets.

500 Global has already invested in several Uzbek startups, such as TASS Vision, IMAN, Cerberus, Tezbor, Talklabs, and Unitlab AI. The total investment in these projects amounts to at least $600,000.

Company representatives noted that 500 Global will be investing in technology companies and startups in the Uzbek market starting in 2021–2022. The recipients of investments include both projects created by Uzbek entrepreneurs and startups with foreign founders operating in the country.

One possible area of further cooperation could be the launch of programs in Uzbekistan aimed at preparing startups for attracting international funding. Such initiatives also entail expanding contacts between local companies and foreign investors.

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

Separately, the meeting participants discussed the operating conditions of venture capital funds in Uzbekistan. Specifically, issues of simplifying the flow of investment capital and increasing the effectiveness of international funds in the local market were discussed.

Following the talks, the parties agreed to continue working together on the systematic development of Uzbekistan's startup ecosystem, creating favorable conditions for venture capital investments, and promoting local technology companies to international markets.

For IT Park Uzbekistan, this cooperation opens up additional opportunities for Uzbek startups to attract foreign capital, expand into new markets, and establish direct contacts with international investors.