Government Funding 200 Startup Projects in High-Potential Sectors
The Uzbek government is taking significant steps to support startups and promote innovation in the country’s economy. In line with President Shavkat Mirziyoyev’s decree signed on March 19, various government entities have been tasked with facilitating the implementation of at least 200 startup projects by the end of 2026. The focus will be on key areas such as AI, green technologies, medical services, and agricultural productivity.
To provide financial support to these budding startups, the Central Bank, along with commercial banks, has been directed to allocate $50 million through the United Ventures and SQB Ventures funds by 2026. In addition, efforts will be made to attract an additional $50 million from foreign sources for startup development.
Furthermore, a startup project coordination center will be established at UzVC, and the national venture fund will be empowered to make direct investments to bolster the startup ecosystem. The aim is to streamline the integration of innovative products and services created by startups into the public procurement system.
Overall, these initiatives underline the government’s commitment to fostering a conducive environment for startups and driving economic growth through innovation and technological advancements. With targeted support and investment, Uzbekistan is poised to emerge as a hub for entrepreneurial endeavors in the region.
