Across the borders of Uzbekistan, an invisible but powerful river flows every year. This river is called Capital.
According to official statistics and international financial institutions, our compatriots abroad—the hardworking Uzbek diaspora—remit between $15 and $20 billion to our homeland annually. This is not just a number. It is the product of the sweat, sleepless nights, and the hardships of millions of people living far from their families.
But let us ask ourselves a bitter question: Where is this massive energy going?
Unfortunately, the answer is disheartening. We are turning the lion’s share of these funds into “dead assets.”
In our culture, the first thing a person does when they earn money is build a house. The second is to throw a lavish wedding. The third is to build another house—even if no one lives in it.
We are in love with concrete walls. “Brick” feels more reliable to us. But in the language of economics, this is the freezing of capital.
- The $20,000 spent on a wedding becomes a mere memory the next day.
- A third empty house creates no added value for the economy, opens no jobs, and generates no exports.
We are not buying the future; we are buying the false prestige of today. Meanwhile, the world has changed. The wealthiest nations and individuals today are not investing in buildings, but in brains.
The 1% rule and $200M
As the Startup Garage and Imkon.VC team, we are putting forward a simple proposal: Let’s divert just 1 percent of that total flow away from concrete and banquets toward innovation.
The math is simple, but the potential results are staggering: 1% of an annual $20 billion is $200 million.
For the Uzbekistan startup ecosystem, this isn’t just money; it is nuclear fuel.
If we begin injecting $200 million of “smart money” into our economy every year, what will happen in the next 10 years? I am certain that this investment would yield at least 10 Unicorns (billion-dollar companies) and several Decacorns. We would transform into a nation that exports intellectual property rather than just cotton or gas.
Investments correctly placed in startups and the private equity market can bring investors an annual return of 15-20% or higher. This is significantly more than any bank deposit or rental income.
Fuel for the engine
When we started the “Startup Garage” project, we realized one thing: Uzbekistan has talent. We are the descendants of Al-Khwarizmi and Al-Biruni. We have the “motor.” But modern startups are fading due to “hunger”—a lack of funding.
You can build as many incubators as you want, but if you don’t have the “fuel” to pour into the “engines” you are building, you are simply constructing a museum of prototypes.
Through Imkon.VC, we want to provide exactly that fuel. We have removed the barriers of the traditional financial world and introduced equity crowdfunding. Now, an ordinary teacher, engineer, or a migrant worker abroad can invest their savings in Uzbekistan’s strongest emerging companies.
Dear compatriots!
For years, you have supported your homeland from afar. Now, the time has come to build it and become its owners. We need to build bridges, not concrete walls. We must invest, not just consume.
If we unite and correctly direct that 1% flow, Uzbekistan will become more than just the geographical center of the region—it will become its innovational heart. Do not bury your money in dead walls; invest it in the “smart” future of the nation. The future begins today. Give it a chance.
Muhammad Khalil — Founder of Startup Garage and Imkon.VC
