The State of Uzbekistan will provide IT startups with up to $100,000 in investments

A digital startups program will be launched in Uzbekistan. Projects in the field of IT and digital technologies will receive comprehensive support, including state investments and compensation for a portion of expenses.

Startups operating for six months to seven years with a combined annual revenue of no more than 10 billion sums are eligible to participate in the program. Registration on the ecosystem platform is required.

Participants of the ecosystem can also join the program. This definition includes venture funds, private venture investors, as well as organizers of incubation and acceleration programs.

Startup participants that have attracted investments from international venture funds with a capitalization of over $50 million will receive an equivalent amount from the state. The maximum investment amount is $100,000.

They will also be able to receive a preferential loan from a venture fund of up to 300 million sums without collateral. The interest rate on the loan will be equal to the current base rate plus 4% per annum.

Source: spot.uz