The Minister of Digital Technologies of Uzbekistan, Sherzod Shermatov, and the CEO of IT Park Uzbekistan, Azamat Karamatov, met with Pedro Santos Vieira, Managing Partner of the global venture firm 500 Global. The goal of the negotiations was to discuss expanding interaction in the field of startup development and entry into international markets, according to IT Park Uzbekistan.
The participants discussed the need to strengthen the startup ecosystem in the country, increase venture investment volumes, and assist Uzbek technology companies in expanding into foreign markets. The main focus of the talks was on coordinating existing initiatives to support startups, while representatives of 500 Global expressed interest in further developing the entrepreneurial environment of Uzbekistan.
The international venture company 500 Global manages assets worth approximately $2.3 billion, investing in fast-growing technology startups and shaping entrepreneurial ecosystems through programs such as 500 Global in Eurasia. The firm has been investing in Uzbek technology companies and startups since 2021–2022, supporting projects from both local entrepreneurs and foreign founders operating in the country.
To date, 500 Global has directed at least $600,000 into a number of Uzbek startups, including TASS Vision, IMAN, Cerberus, Tezbor, Talklabs, and Unitlab AI. Future cooperation may include launching specialized programs in Uzbekistan to prepare local startups for attracting international funding and establishing direct contacts with global investors.
As part of its long-term strategy in Central Asia, 500 Global intends to support startups at various stages of growth—from early development to entry into international investment markets. Regulatory conditions for venture capital funds in Uzbekistan were also discussed during the meeting, with an emphasis on simplifying the movement of investment capital and increasing operational efficiency for international funds in the domestic market.
Following the discussions, both parties agreed to continue joint efforts to systematically develop the startup ecosystem of Uzbekistan, create favorable conditions for venture investments, and promote local technology companies abroad.