Uzbekistan’s startup ecosystem continued its rapid expansion in 2025, with venture investment and international engagement reaching new highs. According to ecosystem rankings by StartupBlink, the country entered the Top 100 of the Global Startup Ecosystem Index for the first time, recording ecosystem growth of more than 132%.
Market estimates suggest venture investment in Uzbekistan surged from $69.5 million in 2024 to more than $329 million in 2025, reflecting growing global interest in the country’s emerging technology sector.
A key driver behind this momentum is IT Park Ventures, the venture fund launched in December 2024 under a presidential decree of the Republic of Uzbekistan. Operating under IT Park Uzbekistan and the Ministry of Digital Technologies, the fund was established with $10 million in investment capital to help strengthen the national startup ecosystem and connect local founders with global markets.
Building a Global Startup Portfolio
During its first year of operations, IT Park Ventures evaluated more than 500 startups, running prescreening processes and ecosystem programs designed to identify promising founders.
These initiatives included acceleration programs, go-to-market support tracks, scale-up initiatives, and demo days aimed at helping startups refine products, attract investment, and expand internationally.
By the end of 2025, the fund had built a portfolio of nearly 70 startups across 15 countries, spanning regions such as Central Eurasia, the United States, the United Kingdom, the UAE, Qatar, and Singapore.
Among these:
- 38 startups received direct investment
- 30 additional startups joined the portfolio through acceleration and scale-up programs under an equity-for-participation model
This structure allows the fund to support startups at multiple stages while building a diversified portfolio of technology companies.
International Co-Investments
A large portion of the deals completed by IT Park Ventures involved co-investment partnerships with global venture firms and ecosystem players.
The fund collaborated with more than 30 local and international partners, including 500 Global, Alchemist, Avenue Growth Partners, and Plug and Play Tech Center, highlighting Uzbekistan’s increasing integration into the global venture capital network.
In terms of sector allocation, the fund’s investments in 2025 were distributed across several technology verticals:
- FinTech — 25%
- EdTech & HR Tech — 15%
- SaaS & Business Software — 12%
- AI & DataTech — 8%
- Other technology sectors — 40%
Looking Ahead to 2026
For 2026, IT Park Ventures plans to expand both its investment activity and ecosystem-building initiatives.
The fund aims to increase investments across AI, GameDev, and other emerging technology sectors, targeting startups from Pre-Seed to Series A stages. It is also preparing to launch joint venture funds with international partners, further strengthening cross-border collaboration.
Beyond capital, the fund plans to deepen its support for portfolio companies by offering operational expertise, international scaling opportunities, and strategic partnership networks designed to help startups compete globally.
As Uzbekistan’s startup ecosystem continues to mature, initiatives like IT Park Ventures are positioning the country as a growing hub for technology innovation in Central Asia and the broader Eurasian region.
