Uzbekistan launches program to fund 30 startups with up to 5 billion soums each

Uzbekistan has launched a new program to support startups, offering up to 5 billion soums in funding per project. The “Entrepreneur of the Future” initiative was introduced by a presidential decree signed after the sixth open dialogue with entrepreneurs. The program is set to run from 2027 to 2030.

The national venture fund UzVC will manage the selection process, choosing up to 30 startups across eight priority sectors. Each project can receive up to 5 billion soums for three years, provided as an interest-free convertible loan or a SAFE. The state will hold a maximum 49% stake in each startup, with a buyback option at market value for founders.

In 2027, the government will allocate 150 billion soums from the state budget for the first round of funding. Priority areas include electrical engineering, mechanical engineering, pharmaceuticals, chemicals, construction materials, water and energy-saving technologies, agriculture, and aerospace. Participants will also benefit from a “regulatory sandbox” and assistance in arranging pilots with industrial companies.

Additionally, the decree introduces a “business angel” status for private investors. Individuals who invest in startups registered on the Startup Base platform, including through SAFE or convertible loans, can obtain this status. If they hold their stake for at least three years and then sell it, the capital gain is exempt from personal income tax. These measures are aimed at developing the startup ecosystem, venture market, and collaboration between startups and investors, with support from IT Park Uzbekistan.

The decree took effect on August 28, 2026.