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With IT Park Uzbekistan, a $10 million venture fund will be established

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IT Park Uzbekistan is creating a venture fund with a charter capital of $10 million to finance technology startups. The national UzVC fund will be transformed into a "fund of funds," whose task is to finance other venture organizations, attract investments and grants. State-owned enterprises will be able to lease premises to startups at the minimum rate, and the management of startup studios may be transferred to IT Park structures or the ecosystem.

To finance startups in the digital technology sector, IT Park Uzbekistan is establishing its own venture fund with a $10 million authorized capital.

The National Venture Fund UzVC will be transformed into a "fund of funds." Its main task will be to finance the activities of other venture organizations, form portfolios, attract local and foreign investments, grants, and co-financing.

The right to manage the startup studio may be transferred to IT Park Uzbekistan structures or other organizations within the startup ecosystem. Additionally, state-owned enterprises will be able to directly lease buildings and premises to startups at a minimum rate.

Source: spot.uz

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With IT Park Uzbekistan, a $10 million venture fund will be established

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