From $1 million to $5 million: President Tech Award sees massive funding hike

President Shavkat Mirziyoyev has ordered a fivefold increase in the total prize fund for the annual President Tech Award competition. The announcement was made during a presentation of winners for the "Best Startup in the Field of Digital Technologies" project held on February 24.

Under the new funding structure, the total prize pool will jump from its original $1 million to $5 million. This expansion is designed to provide a more robust financial runway for Uzbekistan’s emerging tech entrepreneurs.

The enhanced prize fund introduces a dual-layer financial support system to help winners scale their operations:

Direct grants: $1 million will continue to be allocated as non-repayable grants.
Venture investment: $4 million will be provided in the form of venture capital investments to fuel long-term business growth.

The president emphasized that this increase is aimed at supporting young programmers, stimulating technological entrepreneurship, and providing the necessary resources to transform small startups into large-scale, profitable businesses.

The President Tech Award has seen a surge in popularity since its inception. In 2025, the competition attracted 6,000 participants. The number of competing teams has nearly doubled compared to the inaugural year, reaching a total of 862 teams.

"We are ready to create the conditions for small startups to grow into major projects and profitable businesses," President Mirziyoyev stated. "To achieve this, it is necessary to establish a dialogue with every startuper and provide them with the required assistance."

From a student proposal to a multi-million dollar initiative

The history of the competition dates back to 2022, during a meeting between the president and IT sector representatives. Yasmina Ablaeva, a student at Inha University in Tashkent and a member of the Tahrirchi (formerly Tilmoch) service team, proposed organizing a nationwide competition for technological projects and the president supported the idea on the spot.