For Investors
Participate in targeted venture funds. Transparent structure, clear terms, and equity proportional to your investment.
Learn moreFor Partners
We collaborate with local and international companies, providing access to innovation and mutually beneficial terms for piloting new products.
Learn moreFor Startups
Funding at Pre-seed, Seed and Seed+ stages. Access to a partner ecosystem and an opportunity to test your product in a real market.
Apply nowWhy Photon
A unique model that unites universities, banks and startups into a single ecosystem.
Unique deal flow
University funnel and referrals from partner banks. Access to 30+ teams in every cohort before public announcement.
Regional advantage
The first venture fund operating partner with a university accelerator in Uzbekistan. Direct access to the Central Bank's regulatory sandbox.
Validation through Framework
A 6-stage hypothesis validation system reduces investment risk. Only ~3% of 30+ incoming teams reach funding. Learn more →
Go-to-market channels
SQB and Hayot Bank open startup access to corporate clients - with no extra negotiations. Built-in distribution channel.
Implementation speed
Corporate partners implement solutions in 3-6 months instead of 2-3 years of in-house development. Investing in the fund = investing in innovation.
Skin in the game
The GP co-invests in every fund alongside LPs. Our incentives and interests are fully aligned with yours.
About the Photon team
Photon is the operating partner of venture funds, founded in 2021 and headquartered in Tashkent. We handle the operational management of targeted funds that invest in innovative startup projects across Uzbekistan and the broader Central Asia region.
We manage the full operational cycle: startup selection, hypothesis scoring, due diligence, deal negotiations and portfolio support.
Final investment decisions are made by each fund's Investment Committee and/or Supervisory Board - Photon staff are not members of these bodies.
- We operate sector-focused funds - each fund has a dedicated corporate partner
- We select startups through a 6-stage Innovation Framework - only ~3% of incoming teams reach funding
- We connect portfolio companies with partner banks for immediate market entry
We invest across 16 technology verticals:
Key investment strategy parameters:
For Partners
We help banks, corporations, and universities integrate innovation without building it from scratch. Your business challenges become the foundation for new products.
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Test solutions risk-free
Pilot startup products on real users. No development costs - just results.
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Co-create with startups
Joint development tailored to your needs - faster and cheaper than an in-house R&D team.
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Be the first in your industry
SQB, Hayot Bank, and leading universities already work with us. Early access to innovation is your competitive edge.
Define the challenge
Together we find a specific business problem that technology can solve
Match a startup
From our portfolio we propose a team with a relevant product for pilot testing
Implement in 3-6 months
Launch a pilot on real data. Result: a working solution without capital expenditure
Investment Directions
We back technology startups across six key digital transformation verticals.
Internet of Things (IoT)
Projects for collecting and processing primary data. Industrial IoT, smart devices and sensor networks for business and everyday life.
Digitalisation
Digital recording and structuring of business process data. Automation, error reduction and improved operational speed and accuracy.
BI Systems
Data visualisation and business intelligence. Dashboards, reporting and tools for real-time data-driven decision making.
Data Analytics
Systems for studying and interpreting big data. Predictive analytics, pattern discovery and competitive intelligence.
Artificial Intelligence
ML and AI-powered data processing. Decision automation, NLP, computer vision and intelligent recommendation systems.
Platforms
Digital platforms for data and process management. Scalable SaaS solutions, marketplaces and ecosystem products.
For Universities
We turn thesis projects into startups through the Innovation Framework in partnership with Uzbekistan's universities.
Students build real products, not theoretical papers
Teams of 2-4 students (IT + business) go from hypothesis to investment decision under the guidance of academic mentors and industry experts.
Academic Track
6-12 months. In-depth research, academic publications, government legitimacy. 1 hypothesis every 4-6 weeks.
Industry Track
3-6 months. Hackathon-to-accelerator format. Agile sprints, rapid validation. 1 hypothesis every 2-3 weeks.
6 hypotheses to investment
From 30+ teams, ~3% reach the investment decision
Learn about the FrameworkProgramme developed in partnership with the University of New Uzbekistan
Trusted by
For government and development
Photon MC delivers state priorities for digital transformation.
«Digital Uzbekistan 2030» Strategy
A tool for delivering state digital economy priorities through support for technology startups.
Venture market infrastructure
Local infrastructure for venture investing: operational processes, startup selection methodology and corporate governance standards.
A foundation for a mature startup market in Uzbekistan and Central Asia.
Jobs of the future
Transformation of education: a thesis project = a real startup. We create technology jobs and strengthen the ecosystem.
Get in Touch
We're ready to answer questions from investors, partners and startup founders.