IT Park Uzbekistan and 500 Global Discuss the Development of Uzbekistan's Startup Ecosystem

Minister of Digital Technologies Sherzod Shermatov and CEO of IT Park Uzbekistan Azamat Karamatov met with Pedro Santos Vieira, Managing Partner of 500 Global. The parties discussed the continued development of Uzbekistan's startup ecosystem, increasing the volume of venture capital, helping local startups enter international markets, and coordinating current 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 accelerator programs, including 500 Global in Eurasia for startups from the region. According to the company, it has approximately $2.3 billion in assets under management. 500 Global has already invested in a number of Uzbek startups, including TASS Vision, IMAN, Cerberus, Tezbor, Talklabs, and Unitlab AI. The total investment in these projects is at least $600,000.

Representatives from 500 Global also noted that the firm 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 from foreign founders operating in Uzbekistan.

500 Global also expressed interest in implementing programs in Uzbekistan aimed at preparing startups to attract international investment and expanding their contacts with foreign investors.

As part of its long-term development strategy for Central Asia, 500 Global plans to participate in the development of startups at various stages, from the early stage to their entry into international investment markets.

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

Following the meeting, the parties agreed to continue their cooperation on the systemic development of Uzbekistan's startup ecosystem, the creation of more favorable conditions for venture investment, and helping local technology companies enter international markets.

For IT Park Uzbekistan, the development of such mechanisms creates additional opportunities for local startups, such as attracting foreign capital, entering new markets, and establishing direct ties with international investors. The collaboration with 500 Global also contributes to the further development of investment infrastructure and strengthens Uzbekistan's position as a promising market for technology businesses in Central Asia.