Uzbekistan and Serbia plan to establish a joint IT enterprise and venture fund

On October 29, the President of the Republic of Serbia, Aleksandar Vučić, visited IT Park Uzbekistan, where he was briefed on the organization’s operations, primary focus areas, and accomplishments in digital transformation.

The Serbian delegation received an in-depth presentation regarding the digital reforms being carried out by IT Park Uzbekistan, along with its strategic priorities and future objectives. The guests were shown various projects developed by member companies of IT Park, which included solutions in artificial intelligence, digital technologies, and innovative products. The delegation also observed the work of IT specialists and learned about their ideas and initiatives.

The innovative products from IT Park members—UniconSoft, Didox (Venkon), and Kpi.com—particularly captured the delegation's interest due to their technological sophistication and potential for scalability in international markets. These companies showcased solutions focused on digitalization, business process automation, and data management, emphasizing export and integration into global markets.

Significant focus was also placed on the advancements of the UzSpace Agency, which showcased state-of-the-art technologies for remote sensing and spatial data processing, highlighting the rapid development of Uzbekistan’s space and geodata sectors.

Among the initiatives presented were projects by UZINFOCOM, including Palm ID, the Uzinfocom ecosystem, HRM.argos.uz, uGaz, and DMed. These solutions aim to enhance the efficiency of public administration, digitalize the healthcare sector, and optimize services for citizens. The Serbian delegation acknowledged the technological progress, practical relevance, and potential for international scalability of these projects.

Members of the Serbian delegation praised the modern infrastructure and conducive working conditions established at IT Park Uzbekistan, emphasizing that such centers are crucial for engaging youth in international projects and promoting innovation. President Aleksandar Vučić underscored the importance of these initiatives for fostering innovation and strengthening cooperation between the two countries.

During the visit, a meeting was conducted between representatives of IT Park Uzbekistan, UZINFOCOM, and the Serbian delegation to explore collaboration opportunities in the digital technology sector.

During the negotiations, the involved parties reached an agreement to create a joint IT enterprise in Serbia aimed at executing technological projects, which includes the rollout of the Palm ID system, and to investigate the establishment of a joint venture fund to support startups from both nations.

The discussions also encompassed potential cooperation in IT outsourcing, Knowledge Process Outsourcing (KPO) for international market growth, as well as the formulation of collaborative educational and acceleration programs, and assistance for technology startups through partnerships with global accelerators and venture funds. Significant emphasis was placed on knowledge sharing, the development of innovation infrastructure, and the establishment of conditions to boost the global competitiveness of IT firms in both Uzbekistan and Serbia.

The Uzbek representatives conveyed their willingness to invest in the creation of server infrastructure and to recruit engineers for the maintenance of the Palm ID system in Serbia. Conversely, the Serbian representatives affirmed their dedication to facilitating the implementation and promotion of these technologies within their domestic market, with the intention of scaling them throughout the European Union.

Furthermore, the parties deliberated on the initiation of a joint venture program valued at $1 million, which will finance Uzbek startups entering the European market and Serbian projects aiming for expansion into Central Asia.

The collaboration between IT Park Uzbekistan and Serbian entities will generate new opportunities for the joint execution of projects in artificial intelligence, digital transformation, and innovation, while simultaneously enhancing the export potential of Uzbek IT companies and advancing national digital solutions within the European market.