Tashkent, Uzbekistan (UzDaily.com) — A new document has been adopted in Uzbekistan aimed at supporting and developing startup projects and venture financing. The President’s Resolution "On Measures for the Further Development of the Startup Ecosystem and Venture Financing" is designed to create favorable conditions for the growth of an innovative environment in the country.

A key initiative of the resolution is the launch of the Digital Startup Program, which will provide comprehensive support for startup projects in the digital technology sector.

The program will cover:

Startup projects meeting specific criteria:

- Operational period of 6 months to 7 years

- Annual gross income not exceeding 10 billion soums

- Successful completion of incubation or acceleration programs

- Business model based on digital technologies with the potential to enter international markets

- Registration on the startup ecosystem platform

Participants in the startup ecosystem: venture funds, private investors, and enterprises providing incubation and acceleration services.

The program includes the following support mechanisms:

Financial Support:

- Allocation of funds to startups that attract investments from foreign venture funds, up to a maximum of US$100,000.

Expense Reimbursement:

- Participation in international acceleration programs (with at least US$100 million in investments).

- Attraction of mentors and trainers (covering up to 50% of expenses, not exceeding US$50,000).

- Patent registration and intellectual property registration.

Loan Funds:

- Provision of loan funds to venture funds for startups without collateral (up to 300 million UZS) at an interest rate exceeding the base rate by 4%.

The resolution also extends support practices to founders and specialists of startup projects.

Overall, the President’s Resolution aims to create a more favorable environment for startups in Uzbekistan, stimulating their growth and entry into international markets.