Uzbekistan has taken a major step forward in developing its innovative ecosystem with the launch of United Ventures, a venture fund boasting a capital of 525 billion UZS. This initiative is expected to reshape the country’s tech landscape and accelerate the growth of startup ecosystems.
Backed by Uzbekistan’s largest banks
United Ventures is supported by a consortium of the country’s largest financial institutions, including the National Bank of Uzbekistan, Xalq Banki, Asakabank, Agrobank, MikroKreditBank, Turonbank, and Business Development Bank. With their backing, the fund is set to become a significant resource for entrepreneurs and innovators across Uzbekistan.
Leading the fund is Azizbek Kurbonov, a co-founder of Sug’urta Bozor and a young visionary known for his expertise in the startup sector. Azizbek Kurbonov brings a wealth of experience in marketing and innovation that is expected to steer United Ventures toward success.
Aligned with Presidential Reforms
The launch of United Ventures follows the Presidential Decree “On Measures for the Further Development of the Startup Project Ecosystem and Venture Financing,” issued in October 2024. This decree authorized state banks to establish venture funds, highlighting the government’s commitment to fostering innovation and entrepreneurship.
By bridging the gap between innovative ideas and capital, United Ventures aims to provide startup founders with the resources and mentorship needed to turn their visions into reality.
Aiming to shape the future
The fund’s mission extends beyond financing. United Ventures is dedicated to supporting ambitious founders, empowering innovative projects, and creating a robust startup ecosystem that can compete on a global scale. This initiative is not only a financial commitment but also a strategic move to position Uzbekistan as a regional leader in technology and innovation.
According to Statista, Uzbekistan’s venture capital market is projected to reach $32.43 million by 2025. The establishment of United Ventures is expected to play a pivotal role in achieving this growth and stimulating the development of the tech industry in the country.
Driving economic growth and innovation
United Ventures represents a new era for Uzbekistan’s economy, where innovation and technology take center stage. By supporting startups and fostering entrepreneurship, the fund is poised to drive economic diversification and create new opportunities for the nation’s youth and innovators.
Stay Tuned
This is just the beginning of a transformative journey for Uzbekistan’s innovation ecosystem. Follow us for updates on United Ventures’ progress and discover how this fund is reshaping the future of entrepreneurship in Uzbekistan.
