Tech Firm Extends its Horizon in North Africa: Launching Venture Studio in Casablanca's Hub
Startup Garage, Uzbekistan's leading venture studio, has made a strategic move to expand its reach into North Africa by establishing a new venture studio in Casablanca, Morocco. This marks the first time a Central Asian startup ecosystem player has launched a venture studio in North Africa, reflecting a deliberate move to unlock more opportunities for high-potential Uzbek startups [1].
The strategic reason behind this expansion is to internationalize and extend the reach of the Uzbek startup ecosystem into North Africa. Sukhrob Gaybulloev, managing partner at AloqaVentures, the primary investor in Startup Garage, described the expansion as a strategic step towards scaling Uzbekistan's innovation potential [1].
The Casablanca venture studio will focus on forming partnerships with local investors, accelerators, and entrepreneurs across the MENA region. By leveraging Casablanca as a regional hub, Startup Garage aims to connect with North African entrepreneurial talent and markets [1].
The collaboration with IT Park Ventures, which invests in early-stage startups and has international accelerator partnerships, further supports this strategy. This collaboration enables direct investments in startups housed within Startup Garage, thereby turning bold ideas into real ventures with global potential [1].
Since its founding, Startup Garage has incubated over 150 startups across all 14 regions of Uzbekistan. More than 10 of these startups have secured external investments exceeding $2 million [1].
The Casablanca expansion provides a strategic geographic and market bridge from Central Asia to Africa, facilitating cross-border innovation, investment, and startup growth. The move comes at a time when Uzbekistan is intensifying efforts to position itself as a regional hub for technology and innovation, with the Uzbek government making strides in supporting digital transformation, relaxing regulatory barriers for startups, and encouraging foreign investment [1].
Muhammad Khalil, the founder of Startup Garage, stated that the international presence of Startup Garage is designed to help Uzbek startups bridge the gap and take their ideas to the global stage. The innovations emerging from Startup Garage have the potential to create meaningful change and position Uzbekistan as a leading innovation hub [1].
Startup Garage's model includes strategic guidance, mentorship, and access to capital to fast-track entrepreneurial growth. The expansion to Casablanca is part of a broader strategy to forge international partnerships, provide startups with access to mentorship, funding networks, and new markets abroad, and integrate the local startups into a wider global startup ecosystem [1].
GITEX being hosted in Morocco underscores the growing trend of startup hubs emerging in developing markets. With its new hub in Casablanca and an existing international location in Doha, Qatar, Startup Garage aims to serve as a cross-border platform for Central Asian startups looking to expand into global markets [1]. Gaybulloev stated that he is confident that Startup Garage will serve as a launchpad for some of Uzbekistan's most promising startups [1].
In conclusion, the Casablanca expansion of Startup Garage is a significant step forward in the internationalization of the Uzbek startup ecosystem. By connecting with North African entrepreneurial talent and markets, Startup Garage is positioning itself to facilitate cross-border innovation, investment, and startup growth, while also providing Uzbek startups with access to regional markets and attracting North African ventures interested in expanding into Central Asia.
[1] Source: Press Release, Startup Garage, 2022.
The Casablanca expansion of Startup Garage aims to extend the reach of the Uzbek startup ecosystem into technology-focused education-and-self-development and general-news sectors within North Africa. This strategic move intends to unlock opportunities for Uzbek startups to grow and scale their innovations beyond Central Asia.
By establishing a new venture studio in Casablanca, Startup Garage seeks to create partnerships with local investors, accelerators, and entrepreneurs across the MENA region, thereby fostering cross-border innovation and startups with global potential.
