Uzbekistan has officially launched the IT Park Ventures venture fund with an initial capital of $ 10 million. The new investment mechanism was created under the auspices of IT Park Uzbekistan and is focused on supporting startups at the early stages of development, mainly in the field of high technologies and innovations.
According to representatives of IT Park, the main purpose of creating the fund is to stimulate technological entrepreneurship, support promising projects with high growth potential, as well as the formation of a stable and competitive startup ecosystem in the republic. It is assumed that the foundation will not only provide financial assistance, but also provide mentoring and organizational support.
At the first stage, IT Park Ventures has already invested in three projects: Unitlab AI-an artificial intelligence solution, Geomotive-a developer of digital solutions for logistics and geonavigation, and Datatruck-a platform for managing data and traffic flows.
The Fund is focused on a wide range of areas-from fintech and agrotech to cybersecurity and educational technologies. Preference will be given to startups registered in Uzbekistan with the possibility of entering international markets.
The creation of IT Park Ventures was a logical continuation of the state strategy for digitalization of the economy and development of the IT sector, as well as an important step towards strengthening the investment attractiveness of Uzbekistan in the field of innovation.
