Uzbek venture capital firm IT Park Ventures has forged a strategic partnership with Startup Garage, as reported by The Caspian Post via Intelli News. Established in December with an initial capital of $10 million, IT Park Ventures focuses on early-stage investments, providing funding ranging from $10,000 to $1 million. Its investment scope covers startups from their initial ideation phase through to Series A fundraising.

To date, the fund has committed nearly $3 million across approximately a dozen startups. These investments span diverse sectors, including artificial intelligence (AI), fintech, and green technology. This new collaboration is designed to enable IT Park Ventures to directly invest in startups that are part of the Startup Garage incubator program.

Startup Garage emphasized the goal of this collaboration, stating on LinkedIn: “This collaboration aims to unlock more opportunities for high-potential Uzbek startups, enabling them to grow faster and scale globally.” This partnership is a natural extension of IT Park Ventures’ ongoing efforts to internationalize Uzbekistan’s startup ecosystem. The firm has already established ties with globally recognized accelerators such as Plug and Play Tech Centre, Draper University, and StartX, providing Uzbek entrepreneurs with crucial access to mentorship, funding networks, and new international markets.

The fund further elaborated, “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.” Startup Garage, which operates under the slogan “Turn your ideas into reality,” was originally founded to nurture early-stage startups across all 14 regions of Uzbekistan. It provides a comprehensive suite of support, including strategic guidance, mentorship, and access to funding.

Since its inception, Startup Garage has successfully incubated over 150 startups, with more than 10 of these securing over $2 million in external investment. Demonstrating its growth and ambition, Startup Garage expanded its operations into North Africa in April by launching a venture studio in Casablanca. This move marks a significant milestone as it represents the first expansion of a Central Asian startup ecosystem player into the North African region.