Uzbekistan is all set to introduce new mechanisms for financing startups and encouraging private investment. The measures are outlined in a presidential decree adopted following the 6th Open Dialogue between President Shavkat Mirziyoyev and entrepreneurs, reports The Tashkent Times.
The new measures will contribute to the further development of the country’s startup ecosystem, where IT Park Uzbekistan supports technology-driven projects, promotes the development of the venture capital market, and helps build infrastructure for cooperation between startups and investors.
According to the document, the ‘Entrepreneur of the Future’ programme will be implemented from 2027 to 2030. The National Venture Capital Fund UzVC will provide competitive financing to up to 30 startups operating in eight priority areas.Each project will be eligible to receive up to UZS 5 billion in investment. Financing will be provided for a 3-year period in the form of an interest-free and collateral-free convertible loan or SAFE agreement.
The government’s equity stake in a startup will not exceed 49%. Founders will have the right to buy back the government’s stake at market value.UZS 150 billion from the state budget is planned to be allocated for the implementation of the programme in 2027.
Meanwhile, Central Bank of Uzbekistanhas drafted a regulation setting out the procedure and terms for paying compensation on guaranteed deposits through the Deposit Guarantee Fund.