IT Park Strengthens Ties with Silicon Valley: Strategic Meetings Held in San Francisco

 

The IT Park Uzbekistan delegation, led by Executive Director Abdulakhad Kuchkarov, recently completed a business visit to San Francisco. The agenda featured the event “Unlocking Central Asia: Opportunities for IT Outsourcing and Startup Development”, along with a series of meetings with prominent companies and organizations in San Francisco.

 

Unlocking Central Asia: Opportunities for IT Outsourcing and Startup Development

The conference, titled “Unlocking Central Asia: Opportunities for IT Outsourcing and Startup Development”, was organized by IT Park Uzbekistan, Astana Hub, and Silkroad Innovation Hub as part of the TechCrunch Disrupt 2024 global event. This event served as a vital platform for representatives of the U.S. IT sector to engage with the fast-emerging Central Asian region and explore opportunities to develop the region’s startup ecosystem. The conference attracted more than 100 participants, including representatives from the Central Eurasian business community, international corporations, venture capital firms, and other interested parties.

 

The conference allowed investors to gain insights into the regional startup ecosystem, while IT companies and entrepreneurs discussed outsourcing potential with market leaders. The program featured presentations from IT Park Uzbekistan, Astana Hub, and Accelerate Prosperity, alongside a panel discussion, B2B meetings with IT Park Uzbekistan, Astana Hub, and regional startups, as well as a networking session, allowing attendees to establish connections and explore opportunities for cooperation.   

 

 

Asset Abdualiev, CEO and co-founder of Silkroad Innovation Hub, delivered a welcoming address in which he emphasized that the successful development of the region's technological ecosystem requires active collaboration among Central Asian countries, as well as with international partners.

 

 

Executive Director of IT Park Uzbekistan, Abdulakhad Kuchkarov, delivered a presentation on the dynamic growth of the Central Asia’s startup ecosystem. “Central Asian countries must strive for synergy to jointly advance the region,” he stated. “The Central Asian Innovation Hubs alliance, established by IT Park and Astana Hub, stands as an exemplary model of this cooperation. Through this alliance, 16 startups from Central Asia gained the opportunity to showcase their projects in Silicon Valley, drawing attention from potential partners and investors.”

 

Throughout the conference, speakers elaborated on existing initiatives supporting startups and identified further areas to enhance the ecosystem. The discussion covered the potential for both regional and international cooperation, emphasizing that initiatives such as Central Asian Innovation Hubs play a vital role in providing Central Asian startups with access to global markets and innovation resources.

 

TechCrunch Disrupt 2024

During a visit to California, a delegation from Uzbekistan, including the IT Park team and eight startups, participated in TechCrunch Disrupt 2024 under the unified brand of Central Asian Innovation Hubs.

 

 

On the event’s first day, the startups had the opportunity to present their innovative products and solutions at the exhibition. Representing Uzbekistan were Uzum, Uzinfocom, Datagaze, Geomotive, Smartup, Point AI, Billz, and Call 24.

 

 

Over the next two days of the TechCrunch Disrupt 2024, startups Uzum, Uzinfocom, Datagaze, Geomotive, Smartup, Point AI, Billz, and Call 24 took the stage at the Pitch Session, where they delivered dynamic presentations of their innovations. The founders showcased their breakthrough products and services to conference attendees and potential investors, underscoring the rapid emergence of Central Asia as a new, promising technology market.

 

Alchemist Accelerator

A meeting with Alchemist Accelerator culminated in the signing of a memorandum to launch the AlchemistX & Silicon Valley Residency Program, designed to facilitate market entry into the United States. This program, scheduled for launch in June 2025, will be jointly implemented by Alchemist Accelerator, Silkroad Innovation Hub, and Astana Hub under the Central Asian Innovation Hubs initiative. Director Ravi Belani outlined plans for expanded collaboration to foster the startup and venture ecosystem, whereby IT Park will, in 2025, support Uzbek startups in entering the MENA region with the backing from Alchemist.

 

 

Alchemist Accelerator stands as a premier accelerator for startups developing enterprise IT solutions. Since its founding in 2012, the program has supported over 600 startups, providing access to venture capital and partnerships with Fortune 500 companies.

 

Memorandum with Network VC

Following a meeting between Executive Director Abdulakhad Kuchkarov and representatives from Network VC, a memorandum of cooperation was signed to initiate collaborative efforts aimed at the growth and promotion of startups in Uzbekistan. IT Park Uzbekistan, as a key facilitator of the nation’s technological sector, provides an advantageous environment for IT business expansion and offshore outsourcing, including a 0% tax rate and comprehensive support for company launches. As part of this agreement, quarterly pitch sessions will be organized, with the participation of prominent international investors and venture capital funds, thus providing emerging IT companies access to capital and strategic partnership opportunities.

  

 

Collaboration with Network VC, an international investment firm focused on investing in seed and early-growth companies in software, artificial intelligence, and SaaS sectors, is anticipated to have a positive impact on advancing the startup ecosystem not only within Uzbekistan but throughout Central Eurasia. This partnership is poised to enhance entrepreneurial activities, create additional support channels for innovative projects, and attract crucial investment capital needed for startup growth within the region.   

 

Network VC is an international investment company supporting early-stage startups. It offers accelerator programs and provides a platform for startups within the software, artificial intelligence, and SaaS sectors, facilitating their access to global markets and investment opportunities. 

 

Stealth

On October 25, a meeting was convened with Stealth, during which co-founder and Chief Innovation Officer Danny Danishev engaged with representatives from IT Park to explore the prospects of IT outsourcing and the advantages of establishing a presence in Uzbekistan. The discussions primarily focused on access to a highly skilled workforce, technological infrastructure, and government support programs, including the Zero-Risk and One-Stop-Shop. Stealth conveyed a keen interest in participating in upcoming events in Uzbekistan to establish enduring business relationships.

 

Stealth specializes in the development of software to ensure privacy, security, and regulatory compliance in data storage, offering solutions for SharePoint, OneDrive and other platforms.

 

EffectiveSoft

On the same day, the delegation engaged with EffectiveSoft, during which Business Development Director Vlad Lensky outlined ideas for expanding partnerships in software development. The talks covered the potential establishment of a development center in Uzbekistan and the implementation of joint educational initiatives aimed at cultivating IT specialists. Additionally, the exploration of tax incentives to support the company’s expansion was considered.

 

EffectiveSoft is an international company specializing in software development across a range of sectors, including healthcare, finance, e-commerce, and mobile applications, with its headquarters situated in San Diego, California.

 

Silicon Valley in Your Pocket

During the visit, discussions were conducted with Silicon Valley in Your Pocket, where co-founder Jeff Wallace engaged with representatives of IT Park regarding the exchange of expertise and the provision of support for startups within the region. The dialogue focused on facilitating founders in the advancement of their products, including training on effective presentation techniques, sales strategies, and investment attraction.

 

 

Silicon Valley in Your Pocket is a platform dedicated to granting startups access to the extensive expertise of Silicon Valley, thereby assisting entrepreneurs in the global development and promotion of their projects.

 

Adviad

Furthermore, a meeting took place with Adviad, a company that specializes in the integration of artificial intelligence in the advertising sector. Established in Azerbaijan, Adviad maintains an operational office in the United States. During the discussions, Chief Executive Officer and co-founder Rasim, alongside co-founder Geray Yusifov, outlined their plans for establishing an office in Uzbekistan. Currently, Adviad serves clients throughout Central Asia, boasting an overall revenue of approximately $1.5 million. Under the agreements reached, the company affirmed its commitment to open an office in Uzbekistan and intends to allocate a portion of its revenue towards the development of this new branch.   

 

 

Adviad is an advertising firm that harnesses artificial intelligence technologies to create and optimize advertising campaigns. The company is actively expanding its client base in Central Asia and planning to expand into new markets.

 

StartX

During the delegation’s visit, representatives from IT Park convened with StartX to explore avenues for collaboration aimed at enhancing the startup ecosystem, providing mentorship to startups, and facilitating founders’ entry into the U.S. market. This partnership with StartX will focus on assisting Uzbek startups in their preparations for global expansion and in attracting investment, while also delivering essential resources and expertise for successful entry into international markets.

 

 

StartX is a premier startup accelerator associated with Stanford University, committed to supporting founders and startups through mentorship, access to investment opportunities, and distinctive educational programs.

 

Draper University

Discussions with Draper University covered the potential involvement of Uzbek startups in educational programs, such as the Hero Training initiative, as part of the Central Asian Innovation Hubs.

Draper University is a prominent educational institution founded in 2012, specializing in entrepreneurial programs designed to foster leadership skills and drive innovation.

 

R136 Ventures

On October 29, the IT Park delegation concluded their visit with a meeting with R136 Ventures. Founder and Managing Partner Viktor Orlovsky engaged in discussions regarding investment opportunities within the realms of fintech and artificial intelligence startups in Uzbekistan, alongside collaborative initiatives aimed at promoting entrepreneurship. The dialogue included the exploration of mechanisms for supporting venture investments and opportunities for strategic partnerships.

 

R136 Ventures is a venture capital fund founded in 2015, with a focus on investments in fintech, artificial intelligence, and cloud technologies, boasting a portfolio valued at $420 million.

 

PASHA Holding

Abdulakhad Kuchkarov also conducted a meeting with Farukh Aliyev, Head of Innovation at PASHA Holding. The discussions concluded with an agreement to foster collaboration in venture investments and the support of startups within the Central Eurasian market.

 

Established in 2006 in Baku, Azerbaijan, PASHA Holding is a prominent investment holding engaged in sectors such as banking and finance, insurance, information technology, and retail, among others. The holding is recognized for its approach to effective management, corporate governance and strategic investments.

 

IT Park Uzbekistan is actively reinforcing its international standing, establishing connections that foster economic growth and technological advancement in Central Asia. The meetings in San Francisco present new prospects for partnerships, international initiatives, and the continued development of Uzbekistan’s technological sector and the broader region.