It has been announced on September 25, 2019, at the Digital Uzbekistan Forum, held as part of the ICT WEEK 2019.

One of the main tasks and activities of IT Park is to provide support to startups and small enterprises in the field of information technology helping them with launching projects based on venture financing.

"No matter how we try to develop the startup ecosystem, IT projects will not be fully implemented without further funding. In this regard, we have communicated with stakeholders many times, both from the public and private sectors, and with international experts, and concluded that without the creation of a venture fund, a full-fledged dynamic development of the IT industry is impossible. Therefore, we initiated the launch of the first venture capital fund, which will complete the logical chain of development of promising startup projects," said Farokhod Ibragimov, Director of IT Park.

The fund will invest in venture projects in the field of information technology.

The target size of the venture fund is $10 million, and its investors will include state funds, international financial institutions, foreign investment companies and private investors.

The investment focus covers IT startup projects from the pre-seed stage to the early growth stage. The average investment to a company will vary from 25'000 to 100'000 US dollars, depending on the development stage of a startup project.

The fund's area of ​​interest covers all sectors of the real economy, from ArgoTech, E-Gov to MedTech, E-commerce, IoT, etc. The companies receiving the investment should be legal bodies registered in the Republic of Uzbekistan.

To hedge the investment risks, the venture fund will invest in IT startup projects using the co-investment mechanism in the 1 + 1 (matching) format. The fund will only invest if there is a direct financial or corporate co-investor for the target project.

To date, IT Park Venture Fund has already established partnerships with international venture players such as QazTech Ventures (Kazakhstan), Sturgeon Capital (UK), Astron Fund Advisors (Uzbekistan), RB Partners (Russia), Aleinikov and Partners (Belarus) and Global Venture Alliance (USA).

The IT Park ecosystem expands its activities and encompasses the entire chain of development of IT startups from the formation of ideas to scaling to the local and international markets. Those who wish to receive venture financing can send a brief presentation and financial model of a startup project by e-mail to venture@it-park.uz