BAKU, Azerbaijan, September 14. Uzbekistan’s Fergana region and the Korea Venture Business Association (KOVA) are seeking to expand cooperation in venture capital, startups, information technology and innovation, with a focus on developing joint projects and strengthening the region’s technology ecosystem.
This was reflected in the statement by the Fergana regional administration, following a meeting between Fergana Regional Governor Khayrullo Bozorov and KOVA Vice President Kang Ji-hoo in Seoul.
The sides discussed opportunities for mutually beneficial cooperation between Fergana and KOVA, including support for startups, venture businesses, IT companies and innovative projects.
During an expanded meeting with the Uzbek delegation, Bozorov highlighted the development of IT and the digital economy as a priority for Fergana, along with efforts to build an innovation ecosystem and support youth-led startups.
The Fergana delegation presented the region’s work to develop its IT sector, support startup projects and advance promising technology initiatives. KOVA, in turn, presented its activities and projects.
The sides agreed to expand practical cooperation, strengthen ties and begin work on joint projects, potentially creating new opportunities for IT and AI-focused businesses in Fergana.
KOVA is a major South Korean business association supporting venture companies and the country’s startup ecosystem. It assists venture businesses with attracting investment, entering foreign markets, recruiting skilled professionals and expanding business networks, as well as accessing government support mechanisms. The association maintains partnerships with more than 20 countries across major technology hubs in the United States, Europe and Asia. Its network brings together more than 40,000 venture and high-tech companies, with a particular focus on areas including artificial intelligence, Big Data, advanced telecommunications and green technologies. Companies within the association’s ecosystem employ more than 80,000 people.
