Verifix wins Unicorn Battle in Tashkent and will represent Uzbekistan at the international Unicorn Cup in San Francisco

On January 28, the “Unicorn Battle” event took place at the “U-Enter” center in Tashkent, bringing together key players in the innovation ecosystem, including investors, partners, and startups. More than 120 startups from various fields submitted applications, and 18 projects with a Minimum Viable Product (MVP) were selected to present their solutions and demonstrate their scalability potential.

Opening Ceremony and Keynote Speech

During the opening ceremony, Abdulahad Kuchkarov, Executive Director of IT Park, delivered a speech, congratulating the startup founders and wishing them success. He emphasized that Uzbekistan is becoming a key hub for startups in Central Asia, and such events not only promote an entrepreneurial culture but also attract the attention of investors and major global players.

Venture Investors and Special Guests

The event was attended by representatives of major venture capital funds, including “UzCard VC,” “Semurg VC,” “IT Park Ventures,” “Aloqa Ventures,” “Sturgeon Capital,” and the newly established “United Ventures.”

As a special guest, former Foreign Minister Vladimir Norov spoke about the importance of startups and new technologies for the regional economy and their potential impact on the market.

Panel Discussions: Investment and AI Opportunities in Uzbekistan

The event featured two panel discussions:

1. “Unlocking Opportunities in Uzbekistan’s Emerging Market”
   Moderated by Alisa Fox, this panel included key industry experts such as Vladimir Norov, Komiljon Ro‘ziyev (Investment Manager at Aloqa Ventures), Otabek Nosirov (Chairman of the Central Asian Fintech Association), and Abdulazal Toshkhojayev (Investment Director at UzVC). The discussion focused on investment opportunities in Uzbekistan’s rapidly growing market.
2. “Investing in AI Startups: Opportunities in Emerging Markets”
   Iskandar Qurbonov (Regional Product Manager at VISA) led this panel, joined by Zaynab Atabaeva (Investment Manager at IT Park Ventures), Ashayesh Akleker (Chairman of Gaude Business and Infrastructure Solutions), Komiljon Ro‘ziyev, and Otabek Nosirov. They discussed investment opportunities in AI-driven startups in Central Asia and shared insights into the future of artificial intelligence in the region.

Pitch Sessions and Finalists

The event featured pitch sessions, where 18 startups presented their projects within a 3-minute timeframe. After intense competition, the top three startups that reached the final were:

1. Verifix (Winner) – A B2B SaaS HR solution that addresses the talent shortage in the Caucasus and Central Asia region. It aims to streamline workforce data integration, accelerate recruitment, and promote growth in various industries. As the winner, Verifix will represent Uzbekistan at the international “Unicorn Cup” in Silicon Valley, USA.
2. Azma Finance (2nd place) – An automated accounting platform that simplifies tax calculations, reporting, and financial management for small business owners.
3. Tilmoch (3rd place) – An AI-powered translation service specializing in Turkic languages. It claims to be twice as effective as Google and Yandex in translating texts into Uzbek.

Uzbekistan’s Growing Startup Ecosystem

The “Unicorn Battle” event in Tashkent has become a major milestone in Uzbekistan’s startup ecosystem, showcasing the high potential of local companies in attracting international investments and expanding into new markets. With each passing year, such events are strengthening Uzbekistan’s position as a key player in the regional innovation and entrepreneurial landscape.