Uzbekistan’s innovation landscape received a major boost this week as IT Park Ventures and Startup Garage announced a strategic partnership to accelerate the growth of early-stage startups across the country.
Established in December 2024 with a starting capital of $10mn, IT Park Ventures has emerged as a prominent venture capital fund in Uzbekistan. It specializes in supporting startups from the ideation phase through to Series A, offering investment amounts between $10,000 and $1mn.
To date, the fund has deployed nearly $3mn across approximately 10 startups in sectors including artificial intelligence, financial technology, and green technology.
The partnership with Startup Garage, a recognized hub for fostering innovation, enables IT Park Ventures to directly invest in startups based within the platform. This collaboration is set to broaden the pool of promising projects and accelerate the growth of high-potential ventures, helping them expand and enter global markets.
IT Park Ventures has established partnerships with leading global accelerators, including Plug and Play Tech Center, Draper University, and StartX. These collaborations are designed to give local founders exposure to international mentorship, investment, and expansion opportunities.
The initiative has also been backed by Azamat Karamatov, a key figure in Uzbekistan’s venture capital scene, who continues to champion innovative partnerships that empower startups and drive economic growth.
Earlier, Startup Garage extended its operations to North Africa with the opening of a new venture studio in Casablanca, Morocco. As the first Central Asian venture studio to establish a presence in the region, the move opens new avenues for collaboration between startups and entrepreneurs across both regions.
Initially established to nurture entrepreneurship throughout Uzbekistan’s 14 regions, Startup Garage has played a key role in launching a wide range of ventures. Its expansion into the MENA region now seeks to link innovators from Central Asia and the Middle East, fostering cross-regional collaboration and growth.
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