Uzbekistan and Singapore discussed cooperation on supporting startups

The delegation of "IT Park Uzbekistan" led by director Farhod Ibragimov visited the office of the state organization Enterprise SG under the Ministry of Trade and Industry of Singapore Government. Since 2018, it has been responsible for supporting the development of small and medium-sized enterprises, creating opportunities and encouraging innovation.

 The visit pursued the goal of getting acquainted with organization’s work, and establishing cooperation between the two companies.  At the meeting, IT Park representatives presented an information about the measures taken by the government to turn Uzbekistan into a regional IT hub.

Representatives of Enterprise SG, in turn, spoke about their key tasks and vision. Management of Enterprise SG expressed interest in hiring Uzbek IT professionals in local startups.

IT Park assured that Uzbekistan could become a country for Singapore with convenient business conditions for foreign companies and special benefits, and support startups from Singapore in tapping the Central Asian market.  For Uzbekistan, establishing branches will also have a number of advantages, including job opportunities, and exchange of experience with foreign colleagues.

The discussion also included other areas of mutual interest related to the development of IT and the startup ecosystem, including the participation of startups in events organized by Startup SG, a division of Enterprise SG dedicated to developing Singapore's startup ecosystem.

Following the meeting, Enterprise SG was invited to Uzbekistan in March 2023 to get acquainted with the country's IT industry, explore opportunities for IT companies and discuss the start of some projects.

For reference: Enterprise SG is a government organization under the Ministry of Trade and Industry of Singapore Government.  It was established on April 1, 2018 to support Singapore's SME development, opportunity creation, innovation, transformation and internationalization.

Enterprise SG is also supporting Singapore's growth as a startup hub.  Startup SG program is among the Enterprises SG’s initiatives, which is a key factor in the development of the startup ecosystem.  The program provides startups with the opportunity to create and develop a product and facilitates projects willing to tap the international markets.  To date, Startup SG has over 4,000 successful projects in its portfolio, including 28 unicorn startups, 228 incubation and acceleration programs, and over 500 investors, including venture capital funds, business angels and private investors.