Uzbekistan is gearing up to launch a digital startup support programme, with President Shavkat Mirziyoyev recently signing a decree to make it official.
This forward-thinking initiative aims to support startups that have attracted over $50 million from foreign investors. Eligible startups can look forward to receiving up to $100,000 from the government and access to a favourable loan of 300 million soums and compensation for their participation in international accelerators.
To qualify for this program, startups should boast annual revenues of 10 billion soums and have been active in the market for a period ranging from six months to seven years. Other essential requirements include having documented proof of successful incubation and the presence of a digital-based business model.
In addition to startups, venture funds, private investors, and entrepreneurs who participate in incubating and accelerating startups are encouraged to participate in this promising initiative.
According to reports from Kursiv Uzbekistan, the country is anticipated to witness the emergence of thousands of startups in the coming years – a testament to this program’s potential impact and success.
