Uzbekistan’s Startup Ecosystem: Funding, IT Park and Key Hubs
Uzbekistan's startup ecosystem grew substantially through 2025 and into 2026, anchored by a state-backed venture fund, a growing accelerator presence, and the region's first unicorn — though exact funding totals vary between sources and should be treated as estimates rather than official statistics. Last checked: 22 October 2026. Figures drawn from RISE Research and IT Park Ventures reporting, which differ on totals — both are cited below with the discrepancy flagged rather than presenting one figure as definitive.
Uzbekistan’s startup ecosystem grew substantially through 2025 and into 2026, anchored by a state-backed venture fund, a growing accelerator presence, and the region’s first unicorn — though exact funding totals vary between sources and should be treated as estimates rather than official statistics.
Last checked: 22 October 2026. Figures drawn from RISE Research and IT Park Ventures reporting, which differ on totals — both are cited below with the discrepancy flagged rather than presenting one figure as definitive.
Funding totals: two different estimates
| Source | 2024 funding | 2025 funding |
|---|---|---|
| RISE Research | $95M | ~$320M (incl. two large deals) |
| IT Park Ventures | $69.5M | $329M+ |
RISE Research’s $320M 2025 figure includes two outsized deals — $130 million into Higgsfield and $65.5 million into Uzum — together accounting for 61% of the total. Excluding those two deals, underlying funding still grew by roughly 31%, from $95M in 2024 to $124.5M in 2025, suggesting broader organic growth beyond the headline numbers. Because the two cited sources don’t fully agree, treat both figures as directional estimates of a fast-growing market rather than precise totals.
The region’s first unicorn
Higgsfield, the company behind the $130 million 2025 deal, is described in regional coverage as the first unicorn to emerge from Central Asia’s startup scene — a milestone cited repeatedly as evidence the ecosystem has moved beyond early-stage activity into producing globally competitive companies.
State support: IT Park Ventures
IT Park Ventures operates under IT Park Uzbekistan and the Ministry of Digital Technologies, with $10 million in investment capital. It was established by presidential decree and plans to invest from pre-seed through Series A stages, prioritising sectors including AI and game development. The fund’s existence signals a deliberate state policy to seed the ecosystem rather than relying solely on private venture capital, which remains comparatively young in the region.
International accelerator presence
Techstars Uzbekistan launched in partnership with Hackonnect and UzVC, following roughly seven years of active ecosystem-building in the country. Its presence gives local startups a more direct bridge to international networks and mentorship than was previously available domestically.
A growing international profile
The 5th Central Eurasian Venture Forum was held in Tashkent in 2026 — its first time in the city — drawing roughly 800 attendees from Central Asia, Europe, the United States, Southeast Asia and the MENA region. IT Park Ventures also cites Uzbekistan’s entry into the Top 100 of the StartupBlink Global Startup Ecosystem Index as evidence of the country’s rising international standing, alongside active local funds including UzVC, AloqaVentures, Semurg.vc and UCVentures.
How founders should evaluate the ecosystem
Headline funding totals are a poor substitute for a company-level decision. A founder should verify whether an accelerator accepts the relevant stage, whether investment is equity or grant funding, what entity must be incorporated, which expenses receive tax treatment and whether programme support continues after a cohort ends.
IT Park residency is also different from simply renting space or attending an event. Eligibility, reporting and benefit rules should be checked on the current IT Park page and in the applicable legal documents. A service provider’s summary is not enough for a tax or incorporation decision.
Questions for investors and partners
- Is a funding figure announced capital, committed capital or money already deployed?
- Does an investment count only Uzbekistan-based companies or founders operating abroad?
- Are revenue, customer and employment claims independently documented?
- What currency and reporting period does the comparison use?
These checks explain why reputable sources can publish different ecosystem totals without either necessarily being fraudulent. For the physical trade context around regional growth, read the Middle Corridor explanation. The Organization of Turkic States overview describes regional coordination without implying that it creates one startup market or legal regime.