A new venture fund Imkon Ventures, focused on investing in early-stage startups (pre-seed and seed), has launched in Uzbekistan. The fund's capital is $5 million, and the main goal is to integrate Uzbek technology teams into the global innovation ecosystem.
The key investor of Imkon Ventures was the National Venture Fund of Uzbekistan UzVC, which emphasizes state support for the initiative and contributes to the formation of trust on the part of international development institutions and private partners. The official launch of the fund took place within the framework of the Asian Development Bank conference on small and medium-sized businesses, which attracted the attention of the global venture community.
The Fund will focus on projects in the areas of financial technologies, artificial intelligence, B2B SaaS and deeptech, focusing on startups with cross-border growth potential. As part of the first investment wave, it is planned to support 25-30 projects.
Imkon Ventures estimates that by 2030, the launch of the fund can create more than 1,000 new jobs in the high-tech sector and make a significant contribution to the development of digital infrastructure and human capital in Uzbekistan.
According to Tokhir Mirzajanov, co-founder of the foundation, the initiative is designed to become a bridge between the regions of Central Asia and the Middle East (MENA):
"Uzbekistan's growth and potential are finally gaining international recognition. Now is the perfect time to invest in our young, ambitious nation. Imkon Ventures will serve as a bridge for technological dialogue between regions."
Muhammad Khalil, Managing Partner of Imkon Ventures and founder of the Startup Garage platform, noted that Uzbek entrepreneurs are showing a willingness to scale beyond the national market:
"We are seeing a real wave of startups with international potential. This is a unique window of opportunity to take these projects to the next level."
In the long term, Imkon Ventures intends to promote the emergence of the first technological “unicorns” (startups with a valuation of over $1 billion) in Uzbekistan and strengthen the country's status as one of the leaders in innovative development in the region.
The launch of Imkon Ventures reflects a paradigm shift in national innovation policy, where the focus is shifting to supporting technology entrepreneurs and creating a full-fledged venture ecosystem with a global agenda.
