IT Park and Headline Asia Discuss Cooperation in Venture Capital

Representatives from IT Park Uzbekistan and the Korea ICT Entrepreneurs Association held discussions on new formats for startup support, as well as the expansion of technological interaction between Uzbekistan and South Korea. This meeting took place within the framework of the ICT WEEK Uzbekistan 2026 event.

The negotiations involved Farrukh Erkinov, Director of IT Park Uzbekistan for Startup Ecosystem Development, and Lee Seong Hwan, Chairman of the Korea ICT Entrepreneurs Association. The parties focused on developing acceleration and incubation programs, supporting technology companies, and strengthening ties between the ICT ecosystems of the two countries.

Proposal for an Acceleration Program

Lee Seong Hwan stated that his association is ready to organize an acceleration and incubation program for Uzbek startups in Chungcheongnam-do province. It is expected that this program will help participants better understand the Korean market, familiarize themselves with the local ecosystem, and establish contacts with potential partners.

In turn, Farrukh Erkinov presented the "Land of Startups" program, the launch of which is scheduled for 2027. The representative of IT Park Uzbekistan invited Korean startups, including teams from Chungcheongnam-do province, to participate in this initiative.

Discussion on Further Cooperation

Participants also considered the possibility of attracting companies from the K-ICT network to Uzbekistan, organizing business meetings between Uzbek and Korean technology firms, conducting business missions, and implementing joint pilot projects.

The Korea ICT Entrepreneurs Association unites about 400 ICT companies and specializes in technological cooperation, establishing business ties, holding expert events, and international business missions.

Chon Min Hwan, CEO of KP HUB Company; Sok Hee Lee, Director of Namsool University INTER/KR; and Chon Ik Lee, a journalist from Seoul Shinmun with a PhD in Public Administration, were also present at the meeting.

Following the negotiations, the parties reached an agreement to continue dialogue regarding expanding bilateral acceleration and incubation opportunities, assisting startups in entering each other's markets, and developing technological cooperation between Uzbekistan and South Korea.

IT Park Ventures has announced new investments in six technology startups from Uzbekistan. The presentation of investment checks for five companies took place on September 22 as part of the Startup and Venture Capital Summit at the ICT Week Uzbekistan 2026 event.

The investments were directed to the companies Bigmart, ORA, Layf, Q.Watt, and UrbanDrive. The project Tezbor received funding through the Digital Startups 1+1 program.

The new deals cover solutions in corporate procurement, marketing technologies, e-commerce, the automotive market, and logistics. The startups plan to use the received funds to develop products, expand teams, and enter new markets.

Bigmart received an investment of $100,000 USD. This company develops a B2B marketplace for corporate procurement in Uzbekistan. The platform allows enterprises to purchase goods and business services through a single service, make cashless payments, and receive a full set of closing documents.

More than 40,000 items are listed on the platform. The next stage of development will be the launch of an AI assistant that will predict company needs, automate inventory replenishment, and help assess the market value of goods. The investment will go towards product development, expanding the sales department, and scaling the business.

IT Park Ventures also invested in Q.Watt, although the size of this deal was not disclosed. The company is developing a network of charging stations and urban micro-mobility services. The Q.Watt network includes over 4,900 stations, and the base of active users exceeds 97,000 monthly. The company's fleet consists of 1,500 bicycles. The project operates in Uzbekistan, Tajikistan, and Bulgaria.

It is planned that the investments will allow for an increase in the number of stations and bicycles, improvement of the technological platform, launch of new urban services, and continuation of international expansion.

ORA received $150,000 USD from IT Park Ventures. Additionally, the startup attracted another $50,000 USD with the support of a private venture fund in Uzbekistan; both amounts have already been invested in the company.

ORA is an AI platform that helps brands interact with bloggers and user-generated content (UGC) creators. The service automates processes, starting from script preparation and author search to publication monitoring and effectiveness analysis. The platform network includes over 30,000 content creators. The funds will be used to develop artificial intelligence-based tools, expand the creator network, and enter new markets.

Layf received an investment of $100,000 USD. The company creates infrastructure for launching online stores, delivery services, and super-apps in Central Asia and the Caucasus. The platform combines e-commerce, payment services, logistics, CRM, analytics, and AI tools. Layf collaborates with banks, payment, and logistics platforms in Uzbekistan, Kazakhstan, Tajikistan, and Armenia.

In 2025, the startup was among the winners of the Digital Startup Awards and received $50,000 USD in SAFE investments from IT Park Ventures. With the help of this fund, Layf also attracted another $50,000 USD from a local venture fund. These funds have already been invested. The new funding round will be aimed at developing AI-based solutions for e-commerce, expanding regional partnerships, and scaling the business across Central Asia and the Caucasus.

UrbanDrive received $100,000 USD from IT Park Ventures. This startup develops a digital platform for buying and selling cars that connects buyers, official dealers, banks, and financial services. Users can compare vehicles and offers, view specifications and prices, apply for financing, and complete key purchasing stages online. For dealers, the company provides the UrbanDealer CRM platform with tools for managing sales, customers, orders, inventory, and analytics. Additionally, UrbanDrive received $100,000 USD from Yoshlar Ventures.

Tezbor attracted $100,000 USD through the Digital Startups 1+1 program. This is an AI-based logistics platform connecting online stores, independent couriers, and parcel pickup/drop-off points. The service allows online stores to reduce last-mile delivery costs and organize transportation between cities and regions, including door-to-door delivery. Tezbor works with over 500 clients and operates in Uzbekistan, Kazakhstan, and Denmark. The received funds will be used to expand the logistics network, develop AI technologies, and enter new markets.

The presentation of investment checks was part of the Startup and Venture Capital Summit at the ICT Week Uzbekistan 2026 event, which gathered startups, investors, technology companies, and representatives of the international venture ecosystem. IT Park Ventures emphasized that in addition to financing, it provides startups with access to industry experience, a partner network, and opportunities to enter international markets.

A meeting was held in Tashkent, Uzbekistan, between IT Park Uzbekistan and EAST GAMES to discuss the further development of the company, support for the Uzbek gaming industry, and expanding the export opportunities of local studios.

IT Park Uzbekistan stated that this meeting is part of the organization's efforts to support participants and facilitate their entry into international markets. The CEO of IT Park Uzbekistan, Azamat Karamatov, and representatives of EAST GAMES reviewed possibilities for implementing new projects, developing the GameDev industry, and strengthening the presence of Uzbek companies in foreign markets.

The parties noted the growing significance of GameDev not only as a field of creative industries but also as a promising sector for exporting digital products and entering new international markets. Special attention was paid to measures to support the further development of EAST GAMES, including assistance with launching new projects and the company's international expansion.

The necessity of creating a system to support GameDev projects at all stages—from incubation and acceleration to preparing teams to work with publishers and investors—was also discussed. The parties considered additional mechanisms that would allow early-stage studios to test their products, assess market potential, and prepare for scaling.

Another area of discussion was increasing the export opportunities for local game development companies and their participation in international exhibitions, conferences, and business missions. In this context, the parties discussed possibilities for supporting EAST GAMES' participation in international events and expanding the company's interaction with foreign partners.

Attending such events can help establish new contacts with foreign partners, publishers, and investors, promote products created by Uzbek studios on global markets, and identify new business prospects. Furthermore, the parties discussed finding promising game development teams operating in the regions of Uzbekistan and including them in IT Park Uzbekistan's support programs.

Following the meeting, IT Park Uzbekistan and EAST GAMES defined areas of cooperation for developing the GameDev ecosystem, expanding export opportunities for local companies, and preparing studios for entry into international markets. The parties intend to continue cooperating to support the development of EAST GAMES, expand its export activities, and promote GameDev products created in Uzbekistan on the global market.