BAKU, Azerbaijan, September 18. Uzbekistan and South Korean venture firm SparkLabs Inc. signed an agreement in Uzbekistan to launch an acceleration program for Uzbek startups seeking to enter the South Korean market.
This was reflected in the statement by the Ministry of Digital Technologies of Uzbekistan, following talks between Uzbek Deputy Digital Technologies Minister Jamol Makhsudov, IT Park Uzbekistan Executive Director Jahongir Rajabov and SparkLabs co-founder Bernard Moon.
The joint acceleration program is scheduled to launch in the fourth quarter of 2026 and will focus on selecting and preparing promising Uzbek technology startups for expansion into South Korea.
“The program will create additional opportunities for Uzbek startups to gain international expertise, connect with investors and venture organizations, and enter the South Korean market,” IT Park said.
The sides discussed the startup selection process, the format of the acceleration program and opportunities for participants to establish connections with South Korea’s broader venture ecosystem.
Under the program, Uzbek startups will receive support in entering the Korean market and gain access to potential investors and venture capital organizations, including TIPS and Mirae Asset, as well as other participants in the country’s investment ecosystem.
The agreement provides for cooperation in identifying promising technology projects, preparing startups for international expansion and facilitating their entry into the South Korean market.
The parties also discussed expanding cooperation through international technology events. Moon is expected to participate in ICT Week Uzbekistan 2026.
The partnership with SparkLabs is intended to give Uzbek startups access to international expertise, mentoring and business contacts while creating additional opportunities to attract investment and expand into foreign markets.
SparkLabs, founded in Seoul in 2012, is a South Korean startup accelerator and venture capital firm focused on seed- and early-stage companies. The firm provides investment, acceleration and mentorship and supports startups seeking to enter international markets. According to the company, SparkLabs has supported and invested in more than 320 startups and operates inbound and outbound programs connecting international technology projects with the South Korean market and Korean startups with overseas markets.
