Startup Story: founders’ narrative of the projects Carbozor and Monetary

IT Park continues to tell the stories of successful startups as part of Startup Story special edition. Today we’d like to introduce you to two projects - Carbozor and Monetary.

Carbozor

About the project

Kamoliddin Furkatov is 27 years old. Six months ago, he got the idea to launch his startup Carbozor.

CarBozor.uz is a start-up company in Uzbekistan selling accessories and spare parts for cars. The project itself is an online store where you can order parts for the car.

According to Kamoliddin, he had been interested in this direction since childhood.

“Since childhood, I have been interested in both information technology and cars. About six months ago, I decided to combine my two interests into one thing: to create a website to do online marketing. Now the project is developing, and we already have a team of 5 employees: me, frontend developer Bekzod Tojiboev, backend developer Norbek Yusupjonov, UI/UX designer Diyorbek Yusufjonov, as well as Operations and Strategy specialist.”

As he admits, the main mission of the company is to bring convenience to people: so that they, without leaving their home or office, can order the necessary products online, while saving time and effort.

What was the most challenging part of working on the project?

According to the startup, at first it seemed to him that the most difficult thing would be finding partners.

“When I first painted the project on paper, this was the point that bothered me the most. I thought for a long time about how to establish partnerships with people. But now I understand that it’s not so difficult, on the contrary, there are so many like-minded people and friends.”

However, several difficult tasks in the work of Kamoliddin nevertheless arose. For example, to assemble the system itself. And there were also difficulties with the solution codes, logo, name and design.

But this did not stop Kamoliddin on the way to the realization of his old idea.

“Difficulties should temper. Personally, they always spur me on to even more intense and painstaking work, which means that the project will be doomed to success,” notes Kamoliddin.

How do you want to develop your project?

Kamoliddin says that no one invested in his idea.

“Of course, everyone understands perfectly well that finance is needed for development. We are currently working on it and hope that we will succeed. We dream to reach the top in our activities, establish cooperation with a huge number of partners, increase our income and not stop there.”

He also says that he wants to expand the number of services. For example, insurance for cars, preparation of documents, services of a master, etc.

About the startup industry of Uzbekistan

According to Kamoliddin, the startup industry in Uzbekistan has been developing very actively in recent years and is gaining momentum.

“I am pleased that there are many events in support of the startup ecosystem. The government is making great efforts for this, it is priceless. We live in a time when anyone can present their ambitious ideas and, most importantly, implement them.”

Among the actively developing startup areas, he highlights the marketplace, logistics, IT outsourcing, agrotechnological direction and fintech.

“In Uzbekistan, in my opinion, there is no direction where it would not be worth going. Since Uzbekistan has chosen the path of transition to the digitalization of the economy, every industry needs help now. And I'm sure startups can help make that happen.”

For novice startups, Kamoliddin wants to be bolder and be active.

“If a person himself believes in his idea, this is already half the battle. There is no need to be afraid of mistakes, because it is mistakes that teach us to work harder and develop. Don't be afraid to try and look for new solutions.”

Carbozor Team

Monetary

About the project

Dilshod Bobomuradov is 33 years old. He works as a CEO at the factory.

As Dilshod admits, the idea of ​​​​launching a startup Monetary did not come about by chance. A few years ago, he decided to analyze what employees spend more time on and why they lose focus during working hours. Thus, the once former observation turned into a startup.

“What do companies need to be effective? Of course, the timely execution of business processes. When it comes to companies of medium and large size, where business tasks and powers are distributed by departments, and in departments by employees, downtime problems arise. This is due to the forced bureaucracy, and there is no other way to manage the company. And our project can help in this, in automating the bureaucracy.”

The goal of the startup is to carry out a digital transformation of workflow in all medium and large companies in Uzbekistan, as well as in the CIS. Thanks to this, employees will work efficiently and stress-free.

Now there are several people in the project team: CEO - Dilshod, CTO - Ulugbek, project manager - Bobur and developers - Ismoil, Dilshod, Azizbek, Giyos.

What was the most challenging part of working on the project?

According to Dilshod, the most difficult thing was to find the right developers for implementation.

“When I first developed the idea, I didn’t even think about how difficult it is to find the right specialists. There are many literate people, but it is not always easy to find like-minded people among them. I'm glad that I still managed to put together such a great team.”

Among the difficulties encountered during the launch process, our hero answers: the search for market fit (Market fit). In his opinion, many do not focus on customer development.

How do you want to develop your project?

As Kamoliddin admits, he did not receive money to launch the project from anyone. At first, the project was financed by the team members themselves, and now they are reinvesting the income from sales.

But, as Dilshod notes, launching the project is only the beginning, and now the team is thinking about a new stage of development.

“Sooner or later, any project will come to this, and we are no exception. After building a sustainable business model and earning money from a large number of sales and a venture fund, we then plan to enter other markets,” says the startup founder.

How do you assess the startup industry in Uzbekistan?

According to Dilshod, Uzbekistan still has a lot to do for the full development of the startup industry.

“In recent years, a lot has been done to develop the startup ecosystem. But still, until we have enough angel investors and knowledge on how to develop startups, it will be difficult for Uzbek startups to succeed, especially in the regions.”

Dilshod notes that the FinTech direction is actively developing in the country, because most people want to have easier access to financial transactions than to work with complex banking procedures. As for robotics startups, this is more difficult, since, in his opinion, most people in the Uzbek community are not ready for advanced technologies. But this, as he thinksis only a matter of time.

Dilshod wishes beginners in this industry to stay enthusiastic and confident.

“What I want to say is that the excellence of the pioneers is overrated. It's about providing service to a forgotten audience, and doing it better. Therefore, do not be afraid if you are not the first one in what you do. And remember that problems are not enemies, but the advisers.”