IT Park Ventures strengthens international cooperation in Silicon Valley

On April 17, 2025, the national venture fund of Uzbekistan, IT Park Ventures, began its visit to the United States with a series of strategic meetings in San Francisco, Palo Alto, San Mateo, and Fremont. The purpose of the trip was to develop international cooperation and integrate Uzbekistan into the global venture and industrial landscape. The delegation was led by the fund's CEO, Azamat Karamatov. During the visit, negotiations were held with representatives of Alchemist Accelerator, Draper University, and SkyStone Games, as well as a visit to the Tesla factory. Topics discussed included cross-border investments, the development of DeepTech sectors, talent mobility, and the expansion of startups into new markets.

By the end of 2024, Uzbek startups had attracted over $203 million in venture funding, IT services exports reached 78 countries, and the first national unicorn, Uzum, confirmed the sector's potential. Over 3,000 technology companies and more than 400 active startups, mostly at the Pre-Seed and Seed stages, are registered in IT Park Uzbekistan.

In 2024, the share of local investors exceeded 50% for the first time, and the market began shifting towards investments in later-stage startups. IT Park Ventures is positioned as a strategic partner providing funding, mentorship, and access to international markets. Also presented were government initiatives: the Zero Risk program, offering free offices, cost compensation, and tax benefits, as well as Enterprise Uzbekistan, an infrastructure for supporting foreign startups and investors.

Source: IT Park Uzbekistan