Uzbekistan to launch a new startup financing program
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Uzbekistan is set to roll out a new program for startup financing. The country will introduce fresh mechanisms to fund startups and stimulate private investment, according to a presidential decree adopted after the 6th Open Dialogue between President Shavkat Mirziyoyev and entrepreneurs.
The new measures are intended to further strengthen Uzbekistan’s startup ecosystem, where IT Park Uzbekistan backs technology-focused projects, supports the growth of the venture capital market, and helps develop infrastructure for cooperation between startups and investors.
Under the document, the “Entrepreneur of the Future” program will run from 2027 to 2030. Through this program, the National Venture Capital Fund UzVC will offer competitive financing to up to 30 startups working in eight priority areas.
Each project may receive up to UZS 5 billion in investment. Funding will be provided for three years in the form of an interest-free, collateral-free convertible loan or a SAFE agreement.
The government’s ownership share in any startup will not exceed 49%. Founders will also have the right to later repurchase the government’s stake at market value.
For the program’s initial phase, UZS 150 billion from the state budget is planned to be allocated in 2027.
The “Entrepreneur of the Future” program will cover startups operating in the following sectors:
A special regulatory sandbox regime will also be introduced for participants in the program.
In addition, relevant government bodies and industry organizations will help startups secure agreements with enterprises for pilot testing and procurement orders.
The decree also creates a separate mechanism to encourage private investment in startups.
An individual who invests in a startup registered on the unified Startup Base electronic platform, including through a SAFE agreement or convertible loan, will be eligible for “startup investor” (Business Angel) status.
If the investor keeps their stake in the startup for at least three years and then sells it, the income from the sale will be exempt from personal income tax.
These new mechanisms are expected to broaden startups’ access to financing, increase the involvement of private investors in the ecosystem, and speed up the commercialization and market launch of technology projects.
The decree took effect on August 28, 2026.