Last week marked the conclusion of ICTWEEK 2024, the most significant IT event of the year, during which IT Park Uzbekistan played a pivotal role by providing participants of the international exhibition with the opportunity to explore the rapidly expanding ITes sector of Uzbekistan.
As part of ICTWEEK 2024, IT Park Uzbekistan organized eight events, attracting over 1100 participants, including more than 250 representatives from foreign countries from 51 countries. More than 40 meetings were held with prominent global companies such as Xsolla, CRIF, and SummitNext. These negotiations have paved the way for foreign companies to explore new opportunities for expanding their global operations through Uzbekistan.
As a result, 14 companies have already registered their legal entities in the country, while an additional 13 companies are in the process of establishing a presence in Uzbekistan. These companies are projected to create over 1,000 new jobs within their first year of operation.
The combined export potential of these companies is estimated to exceed $30 million, which will significantly bolster Uzbekistan’s standing in the global IT market.
Furthermore, five memorandums of cooperation were signed with international companies, including a strategic partnership with the Astana Hub Technopark, enabling 30 startups to participate annually in international acceleration programs.
Let’s now take a closer look at them.
Uzbekistan: A Global Hub for Outsourcing (Shared Services & Offshore Outsourcing Conference)
Within the framework of ICTWEEK, IT Park Uzbekistan organized the two-day Shared Services & Offshore Outsourcing Conference, which served as a unique platform uniting over 350 experts and business representatives from 47 countries. The primary objective of this event was to demonstrate Uzbekistan's potential as a global outsourcing center, showcasing the exceptional conditions created for ITes companies and the extensive government support available.
The conference program featured presentations highlighting Uzbekistan's competitive advantages as an outsourcing hub, alongside a presentation of the International Digital Technologies Center, Enterprise Uzbekistan, in collaboration with EY. Moreover, international IT Park members engaged in export activities shared their successful experiences in establishing operations in the country, emphasizing the ease of doing business and the streamlined access to new markets from Uzbekistan.
The second day of the Shared Services & Offshore Outsourcing Conference was characterized by a series of workshops and visits to companies and educational institutions actively involved in fostering outsourcing activities in Uzbekistan. During these workshops, experts and entrepreneurs deliberated on the opportunities for conducting global business via Central Asia. Representatives of IT Park Uzbekistan provided attendees with detailed consultations on legal, financial, and administrative matters.
Leading companies and educational institutions, including EPAM, IT Park University, Inha University in Tashkent, and Vention, among others, opened their doors to the participants of ICTWEEK. At these venues, visitors had the opportunity to familiarize themselves with the organizations’ operations, evaluate the level of IT specialist training, and discuss potential avenues for collaboration.
As a direct outcome of the conference, 27 companies from the United States, the Netherlands, Singapore, Poland, Portugal, Hungary, Malaysia, and Georgia have already taken advantage of IT Park Uzbekistan's One Stop Shop service to register their legal entities in Uzbekistan, with the prospect of launching business activities within the country.
14 of these companies have already completed their registration, including RFA and GameDevHQ from the United States, PARROLABS CA from the Netherlands, BIPO SILK ROAD from Singapore, and SAITA from Georgia, among others. It is projected that these newly established companies will generate over 1,000 jobs within their first year of operation, with a combined export potential estimated at $30 million.
Additionally, 13 other companies from the United States, China, Japan, and other nations are currently in the process of registering legal entities in Uzbekistan.
A landmark achievement of the conference was the signing of a memorandum between the Ministry of Digital Technologies, IT Park Uzbekistan, and DataVolt, concerning the construction of a 10 MW data center powered by renewable energy. This initiative establishes a new benchmark for data centers, ensuring high operational efficiency and a reliable power supply.
Furthermore, a memorandum of understanding was signed between the Tashkent Region branch of IT Park and Human & Forest, aimed at cultivating highly skilled IT professionals and facilitating the exchange of expertise in the IT sector between the two countries.
Startup & Venture Summit
The IT industry is inseparable from startups, fast-growing companies, and venture capital investments. This year, for the first time, the Startup & Venture Summit took place, bringing together leading players in the venture market, startups, and experts to exchange knowledge and establish strategic connections that will ultimately contribute to the development of the startup ecosystem in Uzbekistan.
The summit gathered over 200 participants, including startup founders, entrepreneurs, and investors from around the world. More than 30 representatives from startup ecosystems, investors, and venture funds participated in the event, including organizations such as Astana Hub, Plug and Play Tech Center, Sturgeon Capital, SABAH.fund, Activat.VC, MA7 Venture Fund, Avestu Capital, Aloqa Ventures, UC Ventures, DOMiNO VC, Invest Qatar, Venture Fund HIVE, KITE Mongolia, and others.
During the event, the launch of the Central Asian Innovation Hubs alliance was announced in partnership with IT Park Uzbekistan and Astana Hub, aimed at promoting the technological potential of the Central Asian region. By the end of 2024, IT Park Uzbekistan and Astana Hub will provide 40 regional startups with the opportunity to present their technological solutions on global platforms – INMerge Innovation Summit (4 startups), TechCrunch Disrupt 2024 (20 startups), and WebSummit Lisbon (16 startups). In 2025, through joint programs with Draper University, Stanford HealthTech, and Alchemist Accelerator, 30 regional startups are expected to reach the international level.
Another significant step towards empowering women entrepreneurs in the IT sector was the meeting of current partners of the Tumaris.Tech Central Asia program during the third wave of ICTWEEK. These business meetings were aimed at strengthening partnerships and laying the foundation for further project development and its globalization.
As a result of a meeting with the Kazakh venture company Activat VC, a partner of the Tumaris.Tech Central Asia program, a memorandum was signed to expand cooperation in the development of the startup ecosystem and venture investments.
Investor’s Room
A significant highlight of the summit was the Investor’s Room event. This format featured dynamic pitch sessions conducted in a Speed Dating style, enabling startup founders to establish direct connections with investors. The event was attended by 18 venture capital firms from the United States, the United Kingdom, Qatar, Turkey, Azerbaijan, Kazakhstan, and Uzbekistan.
26 startups, pre-selected by an expert committee, presented their projects at the expansion stage. Many of the participating companies had undergone training in esteemed global acceleration programs. Several startups successfully secured investments for their projects through the Investor’s Room. Specifically, the startups Royal Taxi and Platma reached a preliminary agreement for continued collaboration with AloqaVentures, totaling $200,000 each.
She Loves Tech – Regional Final of the Women’s Startup Competition
Additionally, during the summit, the regional final of She Loves Tech 2024, the largest startup competition for women in technology within Central Asia, was conducted. The final featured 10 startups from Mongolia, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan. The projects proposed innovative solutions across various sectors, including artificial intelligence, fintech, education, healthcare, and the digital economy. Participants benefitted from mentorship and established connections with international experts.
The winners of the She Loves Tech 2024 competition were the startups YAYA from Kazakhstan, Mama Space from Kyrgyzstan, and INMO Engineering from Mongolia. These startups will be afforded the opportunity to present their initiatives at the global stage of the She Loves Tech competition.
Startup Pitch – A Platform for Showcasing Startups
As part of ICTWEEK, IT Park Uzbekistan also organized the Startup Pitch, which spanned two days and provided an excellent opportunity for startup founders to showcase their products and technological solutions, thereby attracting investments.
On September 17, the preliminary stage was held, during which 28 startups competed for the opportunity to advance to the final round and present their projects to local and international investors and representatives of venture capital firms. The jury selected 7 startups based on five critical criteria: innovation, market potential, team experience, financial sustainability, and social impact.
In the final stage, 3 teams out of the 7 received monetary prizes. The Uzbek startup Sugʻurta Bozor, a comprehensive platform for auto insurance, was awarded first place along with a prize of $5,000. The Uzbek investment and trading platform Jett received a prize of $3,000. The third finalist, the Kazakh SaaS platform for online courses, Courstore, was awarded a prize of $2,000.
Furthermore, the startups Sug’urta Bozor and elbozor obtained investments of $100,000 and $30,000, respectively.
Uzbek-Korean Forum on IT Cooperation
On September 19, the Uzbek-Korean IT Business Forum was convened, organized by the Ministry of Digital Technologies and IT Park Uzbekistan in collaboration with prominent Korean IT companies and organizations, including KOICA, GBTP, and KTPA. The primary objective of the forum was to fortify partnerships and facilitate corporate networking between Uzbek and Korean entities within the realms of IT and outsourcing.
The event witnessed participation from approximately 120 specialists, with over 40 representatives constituting the Korean delegation. Notable attendees included Ambassador Won Do-yeon, Chairman of the National Assembly of the Republic of Korea Kwon Eun-jin, and various representatives from KOICA, GBTP, alongside several distinguished Korean IT firms.
Discussions at the forum centered on opportunities for technology exchange and the enhancement of human capital. Members of IT Park, intending to export IT services and products to the Korean market, presented their initiatives in conjunction with leading Korean IT companies. Additionally, B2B consultations and networking sessions were orchestrated, providing business representatives from both nations the opportunity to deliberate potential collaborations concerning outsourcing prospects from Uzbekistan and to establish valuable contacts.
In conjunction with the forum, an official inauguration ceremony was held for the Korean IT faculty, AKITA (Korean IT Alliance Academy), at Astrum IT Academy. This faculty has been established through a collaboration with the Korean Institute of International Cooperation (KIIIC) and the Turin Polytechnic University in Tashkent, receiving support from the Ministry of Digital Technologies and the Ministry of Higher Education, Science, and Innovation.
It is imperative to highlight that, in the current year, Uzbekistan and Korea have made substantial advancements in their bilateral relations within the IT sector. Notably, a memorandum was signed in June to establish the Uzbek-Korean IT Business Alliance between IT Park Uzbekistan and the Korea Institute of International Cooperation (KIIC). This agreement envisions the establishment of partnership IT offices in both countries, aimed at promoting the export of IT services from Uzbekistan to the Korean market.
Moreover, it should be noted that, by the conclusion of the first half of 2024, the export of IT services to Korea reached $2.6 million, a significant increase compared to $600,000 for the entirety of 2023, signifying an impressive growth rate of 4.3 times.
Gamedev Day 2024
On the concluding day of ICTWEEK, the Gamedev Day 2024 forum took place, organized by IT Park Uzbekistan in collaboration with East Games. This event served as a significant platform for prominent game developers, IT enthusiasts, and startups. The forum featured 5 masterclasses focused on game development, with participation exceeding 250 individuals.
A salient feature of Gamedev Day was the participation of distinguished speakers representing major international studios and organizations. Notably, Jonathan Weinberger, CEO of GameDevHQ (USA), addressed the audience on the potential of game development as a conduit into the field of software engineering, thereby creating new opportunities within the IT sector. Mr. Weinberger is actively involved in educational initiatives within the gaming industry and intends to establish an academy in Uzbekistan dedicated to this domain.
Additionally, industry experts shared their insights and practical applications of specialized tools utilized in game development. Representatives from local companies highlighted their achievements, emphasizing the pivotal theme of evolving from outsourcing activities toward the creation of proprietary products.
Hackathon: President Tech Award
On September 20, as part of ICTWEEK, a specialized segment of the President Tech Award competition — a hackathon — was inaugurated at the Turin Polytechnic University in Tashkent.
This competition attracted over 260 participants, organized into 70 teams, all competing for the grand prize of $100,000.
The hackathon was conducted by IT Park with the endorsement of the Ministry of Digital Technologies, aimed at accelerating the digital transformation of critical sectors, including education, healthcare, agriculture, green energy, and financial technologies. Participants engaged in the development of prototypes and minimally viable products (MVPs) under the mentorship of leading experts. Each day, 25 mentors provided intensive guidance to the participants.
Fifteen teams successfully advanced to the finals, presenting their prototypes to the panel of judges. The winner of the hackathon was the project Focuscore Al from the team Lorem Ipsum, which developed a prototype platform designed to convert entertainment content into educational resources. This initiative is based on research into generational differences in content perception and supports 35 languages, including Uzbek and Chinese. The platform is scheduled for launch across four countries: Uzbekistan, Kazakhstan, China, and India.
Scope of IT Park at ICTWEEK
In addition to the conferences, summits, and forums, IT Park was prominently featured at the exhibition complex. The stands of IT Park Uzbekistan were strategically positioned within two distinct zones. The central area was organized in collaboration with Astana Hub, IT Park University (ITPU), and IT Bilim, with each company provided an exhibition stand designed in the style of high-tech yurts. Throughout the duration of four days, attendees had the opportunity to familiarize themselves with the activities, programs, and services offered by IT Park Uzbekistan and its member companies. The total attendance at these stands exceeded 2,000 visits.
The IT Park Uzbekistan stand alone welcomed approximately 400 individuals, resulting in over 100 consultations pertaining to residency status and emerging opportunities. Consequently, 19 companies are currently in the process of acquiring residency status at IT Park.
During the exhibition, IT Bilim conducted more than 90 consultations, with daily attendance surpassing 500 individuals. Following these consultations, 90 applications were received via the recruitment bot and internship programs, alongside 27 applications for targeted loans and 45 requests for information services. Additionally, a memorandum of mutual cooperation was executed between IT Bilim and Mediagroup Human & Forest, aimed at advancing a training system for IT specialists through the utilization of modern information and communication technologies, thereby enhancing bilateral collaboration.
IT Park University (ITPU) engaged in discussions with representatives from over 10 prominent companies, including Yandex, Uzum Tech, Biznesni rivojlantirish banki, and Nokia. Agreements were established to forge partnerships with the university to facilitate internship opportunities for students across various sectors. Furthermore, regular visits were agreed upon to enable students to acclimatize to corporate culture and operational processes. Joint projects are also planned to provide students with practical applications of their knowledge.
The Tech Alley, constituting the second zone of IT Park, was dedicated to member companies, the IT sector, as well as venture funds and the IT Community. Here, attendees of ICTWEEK had the opportunity to explore the operations of successful IT companies and cultivate valuable contacts within the venture fund and IT Community segments. Participating companies included CLOUPARD, PRO DATA-TECH, EPAM SYSTEMS, UNITED IT COMPANY, TRUSTME, NAJOT TA'LIM MARKAZI, Eskiz Media Group, VENTION, E8IGHT, VOICE SOLUTIONS VB, TECHNOUNIT-GROUP, LOILTE GROUP, BUROBURO, 1001 LABS, DK Leading, IT DATAWARE, DATA LIVE CENTRE, REALSOFT, Swift CTRL, and the Digital Education Technology Development Center.
The average daily attendance at the Tech Alley stands exceeded 100 individuals, culminating in a total reach of over 500 attendees throughout the four days of the exhibition.
As a result of ICTWEEK 2024, Uzbekistan has reaffirmed its status as a burgeoning global center for outsourcing while concurrently strengthening partnerships with international companies and venture investors. Each year, Uzbekistan is emerging as an increasingly significant actor on the global IT landscape, thereby unveiling new prospects for further growth and development.
This event highlighted the escalating interest from foreign IT enterprises in collaborating with Uzbekistan, thereby generating additional opportunities for local specialists and startups. The measures instituted by the government to cultivate a favorable environment for IT companies — including tax incentives, streamlined business establishment procedures, and access to a skilled workforce — are positioning the country as a promising global IT hub.
IT Park Uzbekistan will persist in its efforts to develop the technological ecosystem within the country, facilitate job creation, and support the integration of local startups into international markets.
