The Minister of Innovative Development of Uzbekistan, Ibrohim Abdurahmanov hosted a delegation led by the president of the Venture Fund Council of the Union of Chambers and Commodity Exchanges of Turkey, Göktekin Dinçerler, the ministry said.
The parties reportedly agreed to invest US$ 2 million for joint projects and discussed setting up of an Uzbek-Turkish venture fund worth at least US$ 1 million. The purpose of this venture fund will be to develop the national venture ecosystem thorugh financing innovative projects and startups.
The promotion of small and medium-sized enterprise through joint techparks, start-ups, innovative and venture companies is part of implementation of the accords reached at the meeting of the Cooperation Council of Turkic Speaking States (CTSS). It is planned to study and introduce the experience of the CTSS member states, including Turkey.
A Memorandum of Understanding was signed between the Ministry of Innovative Development of Uzbekistan and the Venture Fund Council of Turkey following the meeting.
