Ministry of Innovative Development to create a venture foundation with Turkey

The Minister of Innovative Development Ibrokhim Abdurakhmonov received the delegation of Turkey led by the chairman of the TOBB Göktekin Dinçerler.

The parties discussed the creation of an Uzbek-Turkish venture foundation with a capital of at least $2 million. The purpose of this institution will be to develop the venture ecosystem of our country by financing innovative projects and start-ups. 

In order to implement the documents adopted within the framework of the Turkic Council meeting, the development of small and medium-sized enterprises through the creation of joint technoparks, start-up businesses, innovative companies and ventures has been determined. It is planned to study and introduce the experience of the CCTS member states, in particular Turkey, in this field.

Following the meeting, a memorandum of understanding was signed between the Ministry of Innovative Development of Uzbekistan and the TOBB.

In addition to creating a joint venture foundation, the parties agreed on implementation of investment programs aimed at developing the innovation ecosystem of the two countries.