TASHKENT, Uzbekistan, January 15. DutchDomino Ventures (a venture fund) signed a memorandum of understanding with IT Park Uzbekistan, Trend reports.
As part of the memorandum, Domino Ventures plans to explore and contribute to Uzbekistan's innovation ecosystem this year in partnership with IT Park Uzbekistan.
Domino Ventures functions in 8 countries, with an operating team in Istanbul, Türkiye and has more than 50 global and local partners. Due to the fund's expansion strategy, its team is actively involved in various events, particularly in Azerbaijan, Georgia, Kazakhstan, and Uzbekistan. In the last two quarters, the Domino Ventures Foundation has analyzed and reviewed 1,000 startups, which indicates its commitment to identify and support prospective entrepreneurs.
Representatives of the fund emphasized that Uzbekistan's rapidly developing technology sector provides great opportunities and makes it an attractive market for investment. They also noted the potential of the region and announced their intention to invest in five technology startups in Uzbekistan in 2024 and actively support them, helping them to enter international markets and strengthen their position in the global innovation arena, as well as organize various project development programs for them.
This partnership not only strengthens IT Park's position as a key player in the national innovation ecosystem but also underscores the growing interest and recognition of Uzbekistan as a dynamic center of technological achievements and investment opportunities. The collaboration between IT Park Uzbekistan and Domino Ventures aims to make a significant contribution to the further growth and success of the technology sector in Uzbekistan, opening up new opportunities for startups and facilitating international cooperation in innovation, entrepreneurship, and venture financing.