IT Park Uzbekistan Discussed Attracting International Investments in Uzbek Startups

IT Park Uzbekistan announced the launch of a global market entry program called Land of Startups in 2027. This program provides a prize fund of five million US dollars for 25 winners, according to Izzat Hamidov, Head of Global Growth at IT Park Uzbekistan.

The announcement was made during the Startup and Venture Projects Summit held in Tashkent as part of ICT Week 2026. The program targets startup founders from around the world who will receive funding and be based directly in the Uzbek market.

The new initiative will run parallel to the existing Presidential Technology Award, which also has a prize fund of five million US dollars. Additionally, there is a digital startup support program that reimburses costs for patents, mentors, and accelerators, and provides R&D vouchers of up to $50,000 for validated MVPs.

According to Hamidov, Uzbekistan's sovereign ratings have been upgraded by S&P, Moody's, and Fitch in recent months, with all three agencies assigning a stable outlook to the country.

He noted that Uzbekistan is among the top ten countries globally in the World Bank's GovTech Maturity Index and also ranks highly in ease of doing business. Foreign investors can own 100% of businesses in the country, and capital movement across borders is free. Since 2017, foreign direct investment has increased approximately 13 times, trade turnover has tripled, and GDP has doubled over seven years.

Uzbekistan's population is 39 million, accounting for half of Central Asia's population, with 65% of residents under 35 years old. More than 25,000 IT graduates enter the ecosystem annually. According to the global Coursera report on digital skills, Uzbekistan ranks first in the world for female participation in generative AI education.

This year, StartupBlink named Uzbekistan the country of the year and the fastest-growing startup ecosystem in the world, while the analytical platform Dealroom ranked first globally for venture capital growth rates.

Two 'unicorns' are already operating in Uzbekistan—Uzum and TBC Bank. The national platform has registered over 1600 startups, more than 130 of which are expanding into international markets in 28 countries. IT Park has opened six foreign hubs to support market entry, which currently serve over 150 companies worldwide.

Hamidov defined the Enterprise Uzbekistan jurisdiction as a key element of the support system. It is governed by English and Welsh law and protected by constitutional law until 2100. In this jurisdiction, corporate, social, property, and land taxes are set at zero, and imported services are exempt from VAT. Company registration takes three days.

For companies entering the market, the Zero Risk program offers up to three years of free office space outside Tashkent, and it also reimburses personnel salary and training costs. By 2030, IT Park plans to increase Uzbekistan's digital exports to $5 billion, create 300,000 high-paying jobs, and attract 1000 companies to the Enterprise Uzbekistan jurisdiction.

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.

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.