Uzbekistan has established a new ecosystem to support startups, investing $145 million in venture capital investments to date. The country’s President announced plans to increase this figure to $1 billion.

Fostering Innovation from School Level

Entrepreneurial education will now begin in schools through the introduction of a new subject, "Skills and Business Hour," designed to help students transform their ideas into startups. The government will allocate UZS 100 billion in grants to support these initiatives.

University-Based Startup Development

Higher education institutions will also participate in the startup ecosystem. An annual competition titled "Best Creative Idea" will be held among universities, with winners eligible to receive grants of up to UZS 300 million from university development funds.

Infrastructure for R&D and Prototyping

To support prototype development and testing, the Innovation Agency and IT Park will establish a dedicated R&D center. For top projects, the Youth Venture Fund will cover up to $50,000 of prototyping costs.

Annual Startup Expo

An annual “Startup Expo” will be launched, providing a platform for investors, large enterprises, and startup founders to connect and collaborate.

Source: President’s Press Service