Uzbekistan will allocate $100 million to support startups

The Ministry of Economic and Financial Development, the Agency for Innovative Development, the UzVC Venture Fund, the Business Development Bank, and the Entrepreneurship Development Company, in collaboration with venture funds, will implement at least 200 startup projects in key sectors by the end of 2026: 

— practical application of AI, blockchain, Big Data, and digital technologies in the economy
— “green” technologies, energy efficiency, and renewable resources
— medical services based on innovations and “smart” solutions
— heating and cooling of residential buildings, social facilities, and government institutions using alternative energy sources
— water conservation, “smart” technologies in water management, and recycling of wastewater for household use
— increasing land productivity, reducing soil salinization, improving irrigation conditions, and addressing challenges in irrigation
— cultivating drought-resistant plants for regions with water supply difficulties.

The national venture fund UzVC will invest directly, and a startup coordination center will be established under its framework. Additionally, $50 million will be allocated through United Ventures and SQB Ventures funds, and another $50 million will be attracted from abroad.  

Startup developments will be integrated into the state procurement system, and their products will be included in technical regulations and standards.

Source: lex.uz