IT Park Uzbekistan launches the Digital Startups Program to foster the growth and scaling of startups

IT Park Uzbekistan is launching the "Digital Startups" program, aimed at supporting and developing projects in the field of digital technologies. The program's goal is to develop the startup ecosystem and attract international investments to Uzbekistan.

Uzbekistan's startup ecosystem is demonstrating rapid growth: by 2024, more than 400 promising projects will be operating under IT Park Uzbekistan. A landmark achievement was the first Uzbek "unicorn," Uzum, valued at $1.16 billion.

In recent years, startup founders have attracted over $148 million in investments and grants, the majority of which came from international funds. For example, the British fund Sturgeon Capital invested $11 million in six Uzbek projects. Over 50 local companies with revenues exceeding $10 million have emerged in the market.

The "Digital Startups" program includes:
— investment allocation
— compensation for expenses related to participation in international accelerators
— entrepreneurship training
— support for patenting intellectual property.

One of the key advantages is the opportunity to double investments: startups that have attracted funding from international funds and business angels will be able to receive a similar amount from the state — up to $100,000.

To further develop the ecosystem, a fund called IT Park Ventures with a volume of $10 million will be created, and a unified platform, StartupBase, will be launched. It will bring together startups, investors, and partners, providing tools for finding funding and collaboration.

The launch of the "Digital Startups" program will be an important step in strengthening Uzbekistan's innovation ecosystem, contributing to the attraction of global investments and the development of promising technologies.