Uzbekistan aims to attract $1 billion in venture funding for youth-led startups

To date, startups in the country have attracted $145 million in venture capital. President Shavkat Mirziyoyev stated that this figure is expected to reach $1 billion in the near future.

Special attention is being given to engaging young people in entrepreneurship. A new initiative titled “Skills and Business Hour” will be introduced in public schools. Within this framework, students will be able to develop their own ideas and transform them into fully fledged startup projects. The program will be supported by 100 billion UZS in grant funding.

Each year, a "Best Creative Idea" competition will be held at universities across the country. Winners will be awarded grants of up to 300 million UZS, financed by the institutions themselves.

To support startups at the prototyping and testing stage, the Agency for Innovation will launch a dedicated Research and Development (R&D) center in cooperation with IT Park. The Youth Venture Fund will cover up to $50,000 of the costs associated with developing prototypes for the most promising projects.

In addition, Uzbekistan will host an annual Startup Expo, bringing together investors, large companies, and startup founders to foster collaboration, exposure, and new funding opportunities.