Venture funds are becoming increasingly popular in Uzbekistan as an alternative source of business financing. Globally, this figure is much higher: in India – $30, in China – $75, in Korea – $156 per capita venture capital investment.
In his speech, President Shavkat Mirziyoyev paid special attention to the role of venture capital in the business ecosystem. He noted that over the past 5 years, 53 startup projects worth $145 million have been implemented in our country with the participation of venture funds. However, this is still not enough. For this reason, a new fund worth $50 million has been created with the participation of 9 state banks and 3 venture companies. As stated in the President’s speech, another $50 million is planned to be attracted from abroad, which will create great opportunities for entrepreneurs.
The President also noted that venture capital investment must bring technological innovations and high value-added products to business development. Innovative products developed by startups will be included in technical regulations and standards and will have the opportunity to participate in government procurement.
A venture ecosystem is being formed in Uzbekistan, which is opening new opportunities for entrepreneurs starting a business. Startups with innovative ideas now have real financial support for development.
