Uzbek Venture Capital Outfit IT Park Ventures Enters Into Strategic Partnership With Startup Garage

Uzbek venture capital outfit IT Park Ventures has entered into a strategic partnership with Startup Garage, The Caspian Post informs via Intelli News.

Founded in December with $10mn in capital, the IT Park Ventures fund concentrates on early-stage investments ranging from $10,000 to $1mn, supporting startups from the ideation phase to Series A fundraising.

The fund has so far steered close to $3mn into around a dozen startups across sectors such as artificial intelligence (AI), fintech and green technology.

The new collaboration will allow IT Park Ventures to invest directly in startups housed within Startup Garage.

“This collaboration aims to unlock more opportunities for high-potential Uzbek startups, enabling them to grow faster and scale globally,” Startup Garage said in a statement on LinkedIn.

IT Park Ventures has sought to internationalise Uzbekistan’s startup scene by forging ties with globally recognised accelerators including Plug and Play Tech Centre, Draper University and StartX.

The partnerships have provided Uzbek entrepreneurs with access to mentorship, funding networks and new markets abroad.

The agreement with Startup Garage, an incubator that works to the slogan “Turn your ideas into reality,” is seen as a natural extension of those efforts.

“Thanks to this partnership, IT Park Ventures will now be able to invest directly in Startup Garage resident startups-a major step toward turning bold ideas into real ventures,” the fund added.

In April, Startup Garage expanded into North Africa with the launch of a venture studio in Casablanca-the first such move by a Central Asian startup ecosystem player in the region.

Originally established to nurture early-stage startups across all 14 regions of Uzbekistan, Startup Garage offers a mix of strategic guidance, mentorship and funding access.

Since its inception, it has incubated over 150 startups. More than 10 have secured over $2mn in external investment.