IT Park Uzbekistan Presents Regional Potential at the Central Eurasia @ Silicon Valley 2024 Conference

 

Over the next 10-15 years, the emergence of major unicorn companies — defined as technology enterprises with a market valuation of at least one billion dollars and targeting the global market — is anticipated to arise from Central Eurasia, encompassing Kazakhstan, Uzbekistan, Kyrgyzstan, Azerbaijan, Turkey, Mongolia, Tajikistan, Turkmenistan, and Georgia. This statement was made by the organizers of the inaugural technology conference, Central Eurasia at Silicon Valley, in the history of Silicon Valley.

 

The conference took place at the iconic Yerba Buena Arts Center, where Apple founder Steve Jobs first unveiled the iPhone and iPad to the public.

 

 

 

 

IT Park was represented at the conference by Executive Director Abdulakhad Kuchkarov, who participated in the panel discussion titled “Artificial Intelligence as a Catalyst for Economic Growth in Emerging Markets”. In his address, he underscored the substantial emphasis placed on the development and implementation of artificial intelligence (AI) at the governmental level within Uzbekistan. In particular, Mr. Kuchkarov highlighted the recent adoption of a Presidential Decree on the AI Development Strategy until 2030. This document is aimed at fostering conditions for the integration of AI into both the social sector and the economy, positioning Uzbekistan as an AI hub under the guidance of Oleg Pekos, the First Deputy Minister of Digital Technologies for AI Development. The plans include increasing the volume of AI products and services to $1.5 billion, elevating the share of AI services to 10% within public services, establishing 10 scientific laboratories, launching powerful server, and securing a position within the top 50 countries in the AI Readiness Index.

 

Moreover, the discussion addressed how emerging markets, such as Central Eurasia can utilize AI to ensure sustainable development and foster economic growth. Esteemed industry leaders including Kubra Binzat, Growth Director at AI Factory at Is Bankasi, Turkey; Ussen Galym, Chief Technology Officer at Bayterek Holding; Meini Hoiberger, Vice President of Development at Cohere AI; Renat Tukanov, Chief Technology Officer at Freedom Holding; and Alex Mashrabov, Director at Higgsfiled AI contributed their insights regarding the transformative potential of AI for young, digitally oriented generations in these regions.

 

 

 

 

Additionally, Zainab Atabaeva, Chief Manager for Startup Ecosystem Development and Venture Investments at IT Park, participated in the roundtable discussion titled “Creating and Supporting the Startup Ecosystem in Central Eurasia”, engaging with key leaders from the regional technology and investment sectors. She elaborated on Uzbekistan's initiatives aimed at establishing a robust startup ecosystem and fostering venture investments, highlighting the opportunities presented to startups and IT companies seeking to expand their operations both domestically and internationally. The discussion also featured representatives from prominent organizations such as 500 Global, StartX, Stanford University, Astana Hub, UZUM, Qazaqstan Investment Corporation, Freedom Holding, among others. Collectively, they deliberated on how Central Eurasia is rapidly evolving into a global hub for startups, cultivating a dynamic and competitive environment conducive to technological innovation and growth.

 

The conference attracted the top 100 startups, regional entrepreneurs, American venture investors, leaders of major companies, representatives from technology giants in Silicon Valley, students, and faculty from leading American universities, among others.

 

 

 

 

The event drew an attendance of 1,200 individuals and featured over 50 speakers, including Coursera CEO Jeff Maggioncalda, Unshackled Ventures founder and partner Nitin Pachisia, along with representatives from Minerva University, Stanford Graduate School of Business Professor Ilya Strebulaev, and other experts.

 

The conference placed a significant emphasis on startups from Uzbekistan, notably featuring the country’s first unicorn, Uzum. Below are additional startups that had the opportunity to present their projects to American investors and clients, as well as to establish connections with counterparts from various countries:

 

 

 

 

1. Uzum: The largest digital platform and ecosystem in Uzbekistan, providing services in e-commerce, express delivery, banking, fintech, and business development.
2. Uzinfocom: Competences of specialists at the unified integrator UZINFOCOM enable to addresses clients’ business challenges through a tailored approach, ensuring swift outcomes on projects of any complexity, ranging from extensive initiatives to the implementation of IT solutions on a national scale.
3. BILLZ: A leading startup in retail automation and financing services for small and medium-sized enterprises (SMEs) in Central Asia.
4. Smartup: A cloud-based software solution designed for the automation and management of distribution, manufacturing, trade marketing, as well as warehouse and financial accounting.
5. Call24: A trusted partner that facilitates effective customer service and optimizes communication in the digital landscape. The company offers versatile tools to create personalized approaches for clients, thereby ensuring a high level of service.
6. Datagaze: A robust cybersecurity solution developed to safeguard organizations against internal data breaches. The software, intended for medium to large enterprises, monitors and controls data access, ensuring the protection of confidential information.
7. Pointai: This company develops software for customer support services, centralizing data to enable rapid identification and resolution of issues.
8. Speechsense: A voice intelligence tool designed for franchise businesses.
9. Beroony: Engaged in the development of artificial intelligence hardware, this company is creating a compact earpiece intended for real-time translation, instruction acquisition, and information retrieval.
10. GeoMotive: A marketplace that redefines Digital Out-of-Home (DOOH) advertising by integrating essential tools into a unified ecosystem. Its precision and intuitive design ensure that each advertising initiative is not only strategic but also efficiently maximizes return on investment.

 

The Central Eurasia @ Silicon Valley conference underscored the dynamic growth of the region and its potential for further development, highlighting key opportunities for investment and collaboration. Central Eurasia is recognized as a burgeoning region with immense untapped potential, according to the event organizers. With a total population of 100 million and a median age of 27 years, approximately 200,000 individuals graduate annually in STEM fields (science, technology, engineering, and mathematics). 

 

The region possesses all the necessary components for the advancement of the tech industry, including universities, a startup ecosystem, venture capital funds, and representatives in Silicon Valley, such as the Silkroad Innovation Hub. In its inaugural year, this hub attracted 80 member startups, securing over $30 million in investments. This confirms the growing interest in the region and its potential for further advancements in the technology sector.