IT Park Uzbekistan Discussed Attracting International Investments in Uzbek Startups

IT Park Uzbekistan announced the launch of a global market entry program called Land of Startups in 2027. This program provides a prize fund of five million US dollars for 25 winners, according to Izzat Hamidov, Head of Global Growth at IT Park Uzbekistan.

The announcement was made during the Startup and Venture Projects Summit held in Tashkent as part of ICT Week 2026. The program targets startup founders from around the world who will receive funding and be based directly in the Uzbek market.

The new initiative will run parallel to the existing Presidential Technology Award, which also has a prize fund of five million US dollars. Additionally, there is a digital startup support program that reimburses costs for patents, mentors, and accelerators, and provides R&D vouchers of up to $50,000 for validated MVPs.

According to Hamidov, Uzbekistan's sovereign ratings have been upgraded by S&P, Moody's, and Fitch in recent months, with all three agencies assigning a stable outlook to the country.

He noted that Uzbekistan is among the top ten countries globally in the World Bank's GovTech Maturity Index and also ranks highly in ease of doing business. Foreign investors can own 100% of businesses in the country, and capital movement across borders is free. Since 2017, foreign direct investment has increased approximately 13 times, trade turnover has tripled, and GDP has doubled over seven years.

Uzbekistan's population is 39 million, accounting for half of Central Asia's population, with 65% of residents under 35 years old. More than 25,000 IT graduates enter the ecosystem annually. According to the global Coursera report on digital skills, Uzbekistan ranks first in the world for female participation in generative AI education.

This year, StartupBlink named Uzbekistan the country of the year and the fastest-growing startup ecosystem in the world, while the analytical platform Dealroom ranked first globally for venture capital growth rates.

Two 'unicorns' are already operating in Uzbekistan—Uzum and TBC Bank. The national platform has registered over 1600 startups, more than 130 of which are expanding into international markets in 28 countries. IT Park has opened six foreign hubs to support market entry, which currently serve over 150 companies worldwide.

Hamidov defined the Enterprise Uzbekistan jurisdiction as a key element of the support system. It is governed by English and Welsh law and protected by constitutional law until 2100. In this jurisdiction, corporate, social, property, and land taxes are set at zero, and imported services are exempt from VAT. Company registration takes three days.

For companies entering the market, the Zero Risk program offers up to three years of free office space outside Tashkent, and it also reimburses personnel salary and training costs. By 2030, IT Park plans to increase Uzbekistan's digital exports to $5 billion, create 300,000 high-paying jobs, and attract 1000 companies to the Enterprise Uzbekistan jurisdiction.

A meeting was held in Tashkent, Uzbekistan, between IT Park Uzbekistan and EAST GAMES to discuss the further development of the company, support for the Uzbek gaming industry, and expanding the export opportunities of local studios.

IT Park Uzbekistan stated that this meeting is part of the organization's efforts to support participants and facilitate their entry into international markets. The CEO of IT Park Uzbekistan, Azamat Karamatov, and representatives of EAST GAMES reviewed possibilities for implementing new projects, developing the GameDev industry, and strengthening the presence of Uzbek companies in foreign markets.

The parties noted the growing significance of GameDev not only as a field of creative industries but also as a promising sector for exporting digital products and entering new international markets. Special attention was paid to measures to support the further development of EAST GAMES, including assistance with launching new projects and the company's international expansion.

The necessity of creating a system to support GameDev projects at all stages—from incubation and acceleration to preparing teams to work with publishers and investors—was also discussed. The parties considered additional mechanisms that would allow early-stage studios to test their products, assess market potential, and prepare for scaling.

Another area of discussion was increasing the export opportunities for local game development companies and their participation in international exhibitions, conferences, and business missions. In this context, the parties discussed possibilities for supporting EAST GAMES' participation in international events and expanding the company's interaction with foreign partners.

Attending such events can help establish new contacts with foreign partners, publishers, and investors, promote products created by Uzbek studios on global markets, and identify new business prospects. Furthermore, the parties discussed finding promising game development teams operating in the regions of Uzbekistan and including them in IT Park Uzbekistan's support programs.

Following the meeting, IT Park Uzbekistan and EAST GAMES defined areas of cooperation for developing the GameDev ecosystem, expanding export opportunities for local companies, and preparing studios for entry into international markets. The parties intend to continue cooperating to support the development of EAST GAMES, expand its export activities, and promote GameDev products created in Uzbekistan on the global market.

IT Park Uzbekistan and the Korea Institute of Startup & Entrepreneurship Development (KISED) held a meeting to discuss opportunities for expanding interaction in the startup sector and supporting technology companies aiming to enter international markets.

The meeting took place in Seoul with the participation of Jamol Makhsudov, Deputy Minister of Digital Technologies of Uzbekistan, Jakhongir Rajabov, Executive Director of IT Park Uzbekistan, and representatives of IT Park Uzbekistan.

The parties discussed prospects for developing startup ecosystems, scaling technology companies internationally, and strengthening ties between entrepreneurs from Uzbekistan and South Korea.

KISED is a state institution under the Ministry of SMEs and Startups of the Republic of Korea. The institute implements national programs to support entrepreneurship and technological startups, covering areas such as business training and launch, acceleration, commercialization, attracting investment, and entering foreign markets.

Proposal for a Joint Exchange Program

One of the proposed directions was the creation of a joint startup exchange and a 'soft landing' program for Uzbek companies interested in entering the Korean market, as well as for Korean startups considering opportunities in Uzbekistan and Central Asia. This potential program could include market entry consultations, mentorship support, assistance in finding local partners, and conducting B2B meetings.

Special attention was paid to the possible participation of promising startups from IT Park Uzbekistan in KISED's international programs, such as K-Startup Grand Challenge, Global Market Expansion Program, and K-Startup Centers, as well as in exhibitions and business events.

Planning Forums and Knowledge Exchanges

The parties also considered the possibility of holding a Uzbekistan-Korea Startup Forum in 2027 involving startups, investors, accelerators, and corporate partners from both countries. Furthermore, they plan to discuss mutual business missions to Uzbekistan and South Korea, which will include B2B meetings, investment sessions, visits to technology companies, and market entry events.

Another aspect was the exchange of experience in creating startup ecosystems. It was planned to organize seminars and educational programs for employees of IT Park Uzbekistan and the Ministry of Digital Technologies on mechanisms for supporting startups in Korea, technology commercialization, open corporate innovation models, and the development of innovative infrastructure.

It was also discussed using the KISED network to help Uzbek startups establish contacts with venture capital funds, investors, corporations, and other participants in the Korean technology ecosystem. After the meeting, the parties defined areas for further development of practical cooperation formats aimed at expanding startups' access to new markets, investments, and international partnerships in both countries.