IT Park Uzbekistan and 500 Global will strengthen cooperation in the field of venture investments

Minister of Digital Technologies Sherzod Shermatov and CEO of IT Park Uzbekistan Azamat Karamatov held a meeting with Managing Partner of 500 Global Pedro Santos Vieira. The parties discussed further development of Uzbekistan's startup ecosystem, increasing the volume of venture investments, expanding local startups into international markets, and coordinating existing initiatives in this area.

500 Global is an international venture capital firm that invests in fast-growing technology startups and helps develop entrepreneurial ecosystems. The company also runs international acceleration programs, including 500 Global in Eurasia for startups from the region. The firm manages approximately $2.3 billion in assets. 500 Global has already invested in several Uzbek startups, including TASS Vision, IMAN, Cerberus, Tezbor, Talklabs, and Unitlab AI. The total investment in these projects amounts to at least $600,000. The company has been investing in technology companies and startups in the Uzbek market since 2021–2022. These include companies founded by Uzbek entrepreneurs, as well as startups by foreign founders operating in Uzbekistan.

500 Global expressed interest in implementing programs in Uzbekistan aimed at preparing startups to attract international investments and expanding their connections with foreign investors. As part of its long-term strategy for Central Asia, the company plans to participate in the development of startups at various stages — from early-stage to accessing international investment markets.

Special attention during the meeting was given to creating favorable conditions for venture funds, simplifying the flow of investment capital, and improving the efficiency of international funds operating in Uzbekistan.

As a result of the meeting, the parties agreed to continue cooperation on the systematic development of Uzbekistan's startup ecosystem, creating more favorable conditions for venture investments, and helping local technology companies enter international markets.

Source: it-park.uz