Uzbekistan: a new project to support tech startups is being launched

Tashkent hosted a working meeting dedicated to the development of the startup ecosystem and the introduction of investment mechanisms for technologically oriented projects. The event was attended by representatives of the Ministry of Economy and Finance, the National Venture Fund, as well as international financial institutions. The discussion focused on the preparation of a new concept for supporting start-up innovative companies and investors who are ready to finance high-risk projects at an early stage.

On the Uzbek side, the discussion was attended by representatives of relevant departments responsible for the formation and implementation of state policy in the field of small and medium-sized businesses. Special attention was paid to the analysis of current barriers hindering the development of entrepreneurial initiatives in the field of digital technologies, and the search for tools to encourage venture investments.

The subject of the dialogue was also the concept of the project "Startup and Business Investment in Technology" (SABIIT), which provides for the creation of a financial and methodological infrastructure to support entrepreneurs. At the meeting, a preliminary agreement was reached to launch a joint project with the participation of the World Bank, aimed at creating sustainable funding channels, as well as developing mentoring and acceleration programs.

The project is aimed at creating a favorable environment for the emergence of new technology companies, including startups in the fields of artificial intelligence, fintech, green economy, agricultural technologies and educational platforms. Within the framework of the initiative, it is planned to create mechanisms for co-financing, grant programs, as well as the formation of a pool of industry experts and institutional partners.

The startup movement in Uzbekistan has been gaining momentum in recent years, but there is still a high need for formalized support tools that can ensure the sustainable development of projects beyond the idea and pilot stage. Cooperation with international financial institutions opens up opportunities for introducing best practices and technologies to support innovative entrepreneurship within the framework of a single state strategy.