Venture financing is becoming an important part of the business ecosystem in Uzbekistan. Over the past five years, investors have invested $ 145 million in 53 startup projects. The press service of the Ministry of Digital Technologies reports.
State-owned banks are actively developing this market. Nine financial institutions have created three venture capital firms and formed a $ 50 million fund. These funds will help young companies launch and scale their businesses.
"The most important thing is that such projects bring a new direction, technologies, innovations, and high added value to the economy. Highly effective innovative products or services created through startups are included in technical regulations and standards. This opens the way for them to receive a state order, " the President said.
The Head of State proposed to direct part of the venture capital investments to projects in the field of artificial intelligence.
