BAKU, Azerbaijan, September 18. Uzbekistan and
South Korea are exploring a joint startup exchange and soft-landing
program to help technology companies from both countries enter each
other’s markets.
This was reflected in the statement by the Uzbekistan’s Ministry
of Digital Technologies, following a meeting between Uzbek Deputy
Digital Technologies Minister Jamol Makhsudov, IT Park Uzbekistan
Executive Director Jakhongir Radjabov and the leadership of the
Korea Institute of Startup & Entrepreneurship Development (KISED),
headed by President Yoo Jung Pil.
The proposed program could provide Uzbek companies seeking to
enter the South Korean market, as well as Korean startups
considering Uzbekistan and Central Asia, with market-entry
consulting, mentoring, assistance in identifying local partners and
B2B meetings.
“The development of practical mechanisms for startup exchange
and market entry will create new opportunities for technology
companies from Uzbekistan and South Korea to access investment,
partnerships and international markets,” IT Park said.
The sides also discussed the potential participation of IT Park
Uzbekistan startups in international programs supported by KISED,
including the K-Startup Grand Challenge, Global Market Expansion
Program and K-Startup Centers. Exhibition and business-matching
initiatives were also considered as potential channels for
connecting Uzbek startups with Korean companies and investors.
Another proposal was to hold an Uzbekistan-Korea Startup Forum
in 2027, bringing together startups, investors, accelerators and
corporate partners from both countries. The parties also considered
reciprocal business missions featuring B2B meetings, investment
sessions, visits to technology companies and market-entry
activities.
The sides discussed exchanging experience in developing startup
ecosystems. Potential workshops and training programs for employees
of IT Park Uzbekistan and the Ministry of Digital Technologies
could cover South Korea’s startup-support mechanisms, technology
commercialization, corporate open-innovation models and innovation
infrastructure.
KISED’s network could also be used to connect Uzbek startups
with Korean venture funds, investors, corporations and other
participants in the country’s technology ecosystem.
KISED is a public institution under South Korea’s Ministry of
SMEs and Startups that implements national programs supporting
entrepreneurs and technology startups. Its activities cover
entrepreneurship education, business development, acceleration,
commercialization, investment attraction and international
expansion.
Following the meeting, the sides identified areas for further
practical cooperation aimed at expanding startups’ access to new
markets, investment and international partnerships.
