New mechanisms aimed at funding startups and encouraging private investors will be introduced in Uzbekistan. Measures to this effect are outlined in a decree signed following President Shavkat Mirziyoyev’s 6th open dialogue with entrepreneurs.
The new measures will serve to further develop the country’s startup ecosystem. Within this ecosystem, IT Park Uzbekistan assists in supporting tech projects, developing the venture market, and establishing the necessary infrastructure for collaboration between startups and investors.
According to the document, the “Entrepreneur of the Future” program will be implemented in 2027–2030. Under the program, the UzVC National Venture Fund will finance up to 30 startups on a competitive basis across 8 priority areas.
Each project can receive up to 5 billion UZS in investment. Funding will be provided for a 3-year term as an interest-free, collateral-free convertible loan or SAFE (Simple Agreement for Future Equity).
The state’s stake in the startup will not exceed 49%. Founders will subsequently have the right to buy back this stake at market value. An initial allocation of 150 billion UZS from the state budget is planned for the program in 2027.
8 Priority Sectors
The “Entrepreneur of the Future” program will cover startups in the following areas:
- Electrical engineering
- Mechanical engineering and equipment manufacturing
- Pharmaceuticals
- Chemical industry
- Building materials
- Water- and energy-saving technologies
- Agriculture and agritech
- Aerospace
Additionally, a special “regulatory sandbox” legal regime will apply to program participants. Relevant government agencies and sector organizations will assist startups in running pilot projects with industry enterprises and concluding procurement contracts. The decree also foresees a new mechanism to incentivize private capital inflow into the startup ecosystem.
An individual who invests in a startup registered on the Startup Base unified electronic platform—including via SAFE or convertible loan—can obtain “Startup Investor” (Business Angel) status.
If the investor retains their stake in the startup for at least 3 years and subsequently sells it, the income derived from the sale of the equity will be exempt from personal income tax.
The new mechanisms are expected to expand funding opportunities for startups, increase private investor participation in the ecosystem, and accelerate the commercialization of tech projects. The decree entered into force on August 28, 2026.
