To bolster the startup ecosystems of Uzbekistan and Korea, representatives from IT Park and the South Korean company D.Camp convened for discussions as part of the Offshore Outsourcing Tour, IT Park reported. The meeting explored avenues for collaboration and opportunities for the advancement of startup projects in both nations.
D.Camp, renowned as South Korea's largest startup hub, has been actively fostering startup ventures since its inception in 2012. With over 6,200 startups under its wing and more than 1,000 development programs, D.Camp boasts a turnover of $13mn and an impressive total fund volume of $14bn. Operating through seven offices worldwide, including in South Korea, Indonesia, Singapore, Japan, Vietnam, and Hong Kong, D.Camp has established itself as a key player in the global startup ecosystem.
The meeting was attended by esteemed figures such as Kim Sivan, the head of D.Camp's Singapore center, Kim Sungwoo, the IT department manager at D.Camp, Doniyor Usmanov, an advisor to UNIDO in Uzbekistan, and Jakhongir Radjabov, the Deputy CEO of IT Park for IT product exports and investments, marked the initiation of discussions on potential collaboration between the two entities.
Several proposals for collaboration were tabled during the meeting, including joint support for startups to penetrate markets in both countries and D.Camp's involvement in the investment program for Uzbek startups. Additionally, plans were discussed for organizing joint webinars to showcase startup projects from Uzbekistan, with D.Camp expressing its intention to invest in these startups and facilitate their entry into the Korean market.
The parties also deliberated on organizing IT Park events in Korea, which D.Camp pledged to promote among its extensive network of partners. Discussions included the upcoming Uzbekistan Outsourcing Conference scheduled for May 25 in Seoul, with D.Camp expressing keen interest in serving as the primary channel for promoting IT Park in Korea.
The meeting culminated in plans to sign a memorandum of understanding during the Uzbekistan Outsourcing Conference in Seoul on May 25, 2024. This step is poised to pave the way for the potential establishment of a D.Camp office in Uzbekistan, signifying a deeper commitment to collaboration and partnership between the two entities.
The collaboration between IT Park and D.Camp holds immense promise for Uzbek startups, offering them access to the lucrative South Korean market and opening doors to substantial opportunities for growth and expansion. Furthermore, D.Camp's planned investments in Uzbek startups are expected to inject fresh impetus into innovative projects, driving their prosperity and development forward.
Equally important is the exchange of expertise and resources in the field of information technology between the two countries. Uzbek specialists and entrepreneurs stand to benefit significantly from access to knowledge and technologies, thereby enhancing the competitiveness of the local IT sector on the global stage.
The prospective establishment of a D.Camp office in Uzbekistan holds the potential to create new employment opportunities and attract foreign investments, thus fueling economic growth and improving the well-being of the Uzbek population.
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