IT Park Ventures

History

2024: Foundation Launch

Venture fund IT Park Ventures began work in Uzbekistan in December 2024. The opening ceremony took place with the participation of First Deputy Minister of Digital Technologies Olimzhon Umarov, General Director of IT Park Uzbekistan Farkhod Ibragimov and Director of IT Park Ventures Azamat Karamatov.

The fund will focus on supporting startups in the fields of artificial intelligence, machine learning, green technologies, educational technologies, fintech and game development. Director of IT Park Ventures Azamat Karamatov stressed that the main goal of the fund is to find promising startups, invest in their development and assist in entering international markets.

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The investment program of the fund provides for various levels of financing: from $10 thousand to $30 thousand for startups at the stage of the idea, from $50 thousand to $150 thousand for projects with a ready MVP, and from $150 thousand to $300 thousand for growing companies. For projects ready to scale, investments of up to $1 million are envisaged within the series A rounds.

According to the government decree, the Uzbekistan fund will double foreign investments attracted by startups from international venture capital funds or business angels, within $100 thousand. A loan program of up to ₽300 million is also provided without collateral at a rate exceeding the main rate of the Central Bank by 4%.

According to the results of 11 months of 2024, more than 400 startups were registered in Uzbekistan, which attracted over $148 million in investments. IT Park Ventures will complement the existing local venture capital funds - UZVC, AloqaVentures, Semurg.vc and UCVentures.

In addition to financing, the fund will provide startups with comprehensive support, including legal and marketing support, assistance in business development and access to an international network of contacts.^[1]

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