A new startup financing program to be launched in Uzbekistan

A new program for financing startups and stimulating private investment will be launched in Uzbekistan starting from 2027. The relevant measures are outlined in a decree signed by President Shavkat Mirziyoyev based on the results of the 6th open dialogue with entrepreneurs.

The "Entrepreneur of the Future" program will be implemented in 2027–2030. Within its framework, the National Venture Fund UzVC may finance up to 30 startups in eight priority areas on a competitive basis.

Each selected project can receive up to 5 billion soums in investment for a period of three years. The financing will be provided in the form of interest-free and collateral-free convertible debt or SAFE.

The state's share in the startup's capital must not exceed 49 percent. At the same time, the founders will have the opportunity to buy back the state's share at market value later.

In the initial phase of the program's implementation, in 2027, it is planned to allocate 150 billion soums from the state budget.

Support will be extended to startups operating in the fields of electrical engineering, mechanical engineering and equipment manufacturing, pharmaceuticals, chemical industry, building materials, water and energy-saving technologies, agriculture and agrotechnologies, as well as aerospace technologies.

A special "regulatory sandbox" legal regime will be introduced for program participants. In addition, relevant government bodies and industry organizations will assist startups in conducting pilot tests and concluding contracts with enterprises for placing orders.

Separate measures are also envisaged to attract private capital to the startup ecosystem. An individual who invests in a startup registered on the single electronic Startup Base platform, including through SAFE or convertible debt, can obtain the status of a startup investor, i.e., a Business Angel.

If the investor retains their share in the startup for at least three years, their subsequent income from its sale will be exempt from personal income tax.

The new mechanisms are aimed at expanding financing opportunities for technological projects, increasing the participation of private investors, and accelerating the process of bringing startups to the market.

The program will become part of the further development of Uzbekistan's startup ecosystem. In it, IT Park Uzbekistan will participate in supporting technological projects, developing the venture market, and creating infrastructure for cooperation between startups and investors.

The decree entered into force on August 28, 2026.