IT Park will establish a venture fund with an authorised capital of $10 mln, according to a decree by President Shavkat Mirziyoyev of Uzbekistan.
The President had outlined the plan to create a venture fund during a meeting with entrepreneurs in August 2024.
The new organisation aims to provide financial support for start-ups in the IT sector.
Additionally, Uzbekistan will reorganise the UzVC venture fund into a “Fund of Funds” to finance similar initiatives. These funds will focus on building investment portfolios and attracting investors.
The venture fund at IT Park will receive a $50 mln loan for a five-year term, which will also support a digital start-up programme.
