Meetings Between IT Park Uzbekistan, IT Park Ventures, and Silkroad Innovation Hub: Signing of a Memorandum of Cooperation

During two meetings between IT Park Uzbekistan, IT Park Ventures, and Silkroad Innovation Hub, significant agreements were reached regarding the initiation of new acceleration programs, the provision of support for IT outsourcing companies, and the development of Uzbekistan’s venture ecosystem. The culmination of these meetings was the signing of a memorandum of cooperation, which outlines a range of strategic initiatives aimed at enhancing the venture ecosystem between IT Park Uzbekistan, IT Park Ventures, and Silkroad Innovation Hub.

Why is this important?

Silkroad Innovation Hub, a community hub situated in the heart of Silicon Valley in Palo Alto, United States, stands as a key partner of IT Park Uzbekistan in promoting the growth of the startup and venture ecosystem, while also reinforcing international collaboration in the domains of technology and innovation. In partnership with Silkroad Innovation Hub, IT Park Uzbekistan has facilitated delegation visits for Uzbekistani startups and IT Park residents to attend TechCrunch Disrupt — one of the most prominent global conferences and exhibitions in the technology sector—in both 2024 and 2025. Furthermore, IT Park Uzbekistan was instrumental in the organization of the inaugural Central Eurasia Silicon Valley Conference, a milestone event that brought together prominent stakeholders and entrepreneurs from Central Asia, including Uzbekistan. During this event, participating companies were afforded the opportunity to showcase their innovations at dedicated exhibition booths, deliver presentations, and engage with prominent investors and representatives of global corporations. Additionally, these companies took part in a series of events held in the United States designed to promote Uzbekistan’s IT ecosystem.  In 2025, in collaboration with Silkroad Innovation Hub, IT Park Uzbekistan, and IT Park Ventures, new programs will be launched to support startups and IT enterprises from Central Eurasia in expanding to and establishing operations in the U.S. market. This initiative will unlock new opportunities for Uzbek entrepreneurs on a global stage while also fostering cooperation in the development of the region’s venture ecosystem.

Meeting Between IT Park Uzbekistan and Silkroad Innovation Hub

During the meeting, Mr. Abdulakhad Kuchkarov, CEO of IT Park, and Mr. Asset Abdualiyev, CEO of Silkroad Innovation Hub, engaged in a comprehensive discussion concerning the procedural aspects and timeline for the implementation of joint acceleration programs in collaboration with distinguished international partners, including Alchemist, StartX, Draper University, and Astana Hub. Moreover, both parties reached an agreement to launch the first-ever Central Eurasian Startup Pitch Competition, organized by Silkroad Innovation Hub. This competition will provide startups from Central Asian countries, including Uzbekistan, with the exceptional opportunity to present their ventures before a panel of international investors during the final round of the competition, which will be held in Silicon Valley, United States.

The meeting also covered the organization of a joint program entitled SCALE2US: IT Outsourcing Bootcamp, initiated by Silkroad Innovation Hub and IT Park Uzbekistan. This program is designed to assist IT outsourcing companies that are members of IT Park in accessing the U.S. market. As part of SCALE2US, participating companies will receive:

• Training in marketing and sales strategies;
• Practical experience engaging with U.S. clients;
• A visit to Silicon Valley to establish connections with potential clients and investors.

Applications for participation in the program may be submitted via the following link (application deadline: March 15, 2025): scale2us.com

The North American IT outsourcing market is valued at approximately $290 billion. In this context, Central Eurasian companies possess distinct competitive advantages, including a highly skilled workforce and cost-efficient labor resources. During the meeting, discussions also focused on the potential integration of this initiative into IT Park Uzbekistan’s broader international expansion strategy for its members. Additionally, as well as hosting outsourcing-related events in Uzbekistan and the United States as part of global programs.

 

Meeting between IT Park Ventures and Silkroad Innovation Hub 

Mr. Azamat Karamatov, Director of IT Park Ventures, and Mr. Asset Abdualiyev discussed strategies for advancing Uzbekistan's venture ecosystem. As outlined in the signed memorandum, the following initiatives are planned: 

• Establishment of a Business Angel School and Club in Uzbekistan, modeled after similar programs in the USA; 
• Organization of a Uzbekistan delegation visit to TechCrunch Disrupt 2025, including venture capitalists, business angels, investors, government officials, banks, and startups, along with cooperation in engaging Uzbek startups in the inaugural Central Eurasian Startup Pitch Competition hosted by Silkroad Innovation Hub, with the final round to be held in Silicon Valley;   
• Launch of educational programs and events for investors and government institutions aimed at developing venture financing and supporting startups. 

IT Park Ventures, established under the auspices of IT Park Uzbekistan, is actively engaged in fostering the development of the venture investment ecosystem by facilitating access to funding, international partnerships, and mentorship programs for startups. The organization is also fostering the growth of the angel investor community and creating a favorable venture environment in Uzbekistan and across the Central Eurasian region. The memorandum of cooperation signed with Silkroad Innovation Hub represents a significant milestone in Uzbekistan's integration into the global startup and venture ecosystem, supporting the attraction of international investors and the strengthening of partnerships with global technology leaders. 

IT Park Uzbekistan and IT Park Ventures remain steadfast in their commitment to creating a conducive environment for business scaling, investment attraction, and international collaboration, thereby positioning Uzbekistan as a key player in the IT and innovation sectors across the region.