BAKU, Azerbaijan, August 28. Uzbekistan and
global venture capital firm 500 Global discussed expanding venture
investment, strengthening the country’s startup ecosystem and
helping Uzbek technology companies enter international markets, as
the sides explore deeper cooperation in the sector.


This was reflected in the statement by the Ministry of Digital
Technologies of Uzbekistan, following a meeting between
Uzbekistan’s Minister of Digital Technologies Sherzod Shermatov and
Pedro Santos Vieira, managing partner at 500 Global.


The talks focused on further developing Uzbekistan’s startup
ecosystem, increasing venture capital investment, supporting the
international expansion of local startups and coordinating ongoing
initiatives in the technology sector.


Representatives of 500 Global shared their experience in the
Uzbek market, noting that the firm has invested in Uzbek technology
companies and startups since 2021-2022. Its investments have
included companies founded by Uzbek entrepreneurs as well as
startups established by foreign founders operating in
Uzbekistan.


500 Global expressed interest in launching programs in
Uzbekistan designed to prepare local startups to attract
international investment and strengthen their connections with
foreign investors.


“500 Global is interested in implementing programs that can help
Uzbek startups prepare for international investment markets and
expand their access to foreign investors,” the Ministry of Digital
Technologies said.


The company also outlined plans to engage at several stages of
startup development as part of its long-term strategy for Central
Asia.







The sides discussed measures to create more favorable conditions
for venture funds, facilitate the movement of investment capital
and improve the operating environment for international investment
funds in Uzbekistan.


The discussions come as Uzbekistan seeks to expand access to
private capital for technology companies and strengthen the
country’s position as a regional startup hub.


The meeting concluded with an agreement to continue cooperation
on the systematic development of Uzbekistan’s startup ecosystem,
improving conditions for venture capital investment and helping
local technology companies access international markets.


The partnership could provide Uzbek startups with greater
exposure to global investors and international markets while
strengthening Uzbekistan’s broader efforts to develop
technology-driven businesses and attract private investment.


500 Global is a global venture capital firm that invests in
technology startups across sectors, stages and markets. The firm
has backed more than 3,000 startups in over 80 countries and
provides entrepreneurs with capital, mentorship and access to
international investor networks.