Digital Leadership Forum: Overview and Implementation of International Strategies for Investment Climate Development

On July 7, within the framework of the Digital Leadership Forum, a session on developing the venture ecosystem in Uzbekistan took place. The session was divided into two panel discussions: "Further prospects for digital transformation in Uzbekistan and the benefits of creating an international center" and "Increasing the potential of venture capital in Uzbekistan and foreign countries within Central Asian research."

The panel discussions were attended by representatives from the venture industry, the government, and potential investors. The goal of the sessions was to conduct comprehensive discussions, identify opportunities, and stimulate economic growth in Uzbekistan.

The first session was moderated by Olimjon Umarov, an advisor to Aloqaventures, and the participants included Mohammad Al Blooshi, the CEO of Innovation Hub DIFC; Bekzhan Mutanov, the Director of AIFC Tech Hub; Madina Nurmatova, the Program Coordinator at IFC; Jahongir Rajabov, the Deputy CEO of IT Park for Innovation; and Golib Kholdjigitov, the Head of the Council of Foreign Investors of Uzbekistan.

The panelists engaged in a discussion based on the investment climate in the digital technology sector and the instrumental role played by international financial centers in fostering innovative economic growth and promoting financial technologies.

Experts from DIFC shared their practical experience in resolving regulatory obstacles in legislation and providing support for startup financing. Representatives from IT Park Uzbekistan also shared their experience in addressing the challenges faced by IT companies operating in international markets. The creation of an International Center for Digital Technologies became a common solution to the discussed issues of unlocking untapped potential in the sector.

The panel discussion on increasing the potential of venture capital in Uzbekistan and foreign countries within Central Asian research was moderated by Dilshod Zufarov, the Head of UzVCA. The participants included Abdulazal Tashkhojaev, the Investment Director at UzVC; Sardor Mukhamedaliev, a Regional Partner at ICLUB; Ruslan Rakhymbay, the Investment Director at Quest Ventures; and Denis Kalyshkin, the Investment Director at I2BF Ventures.

The discussion focused on various aspects of the venture ecosystem, drawing on the experience of the venture capital market in Central Asian countries. The participants discussed the important role of the government in shaping the venture capital ecosystem, highlighting valuable lessons that Uzbekistan can learn from the successful experiences of venture markets in foreign countries.

One of the important topics of conversation was the potential role of local and international business angels in fully realizing the potential of venture capital in Uzbekistan and Central Asia. The discussion helped to emphasize the importance of developing a strong local startup ecosystem as the driving force behind venture investments. The participants put forward their assumptions and forecasts regarding the prospects of venture capital in Central Asia.