The prize fund of the President Tech Award will be increased to $5 million

The President of Uzbekistan, Shavkat Mirziyoyev, has announced an increase in the total prize fund for the President Tech Award competition to $5 million.

The head of state highlighted that this decision aims to bolster startups, motivate young programmers, and promote the growth of technological entrepreneurship within the nation. Previously, the competition's prize fund was set at $1 million, with first-place winners receiving $100,000, second place earning $50,000, and third place awarded $25,000.

With the new regulations, $1 million of the designated funds will be allocated as grants, while the remaining $4 million will be distributed as venture investments. This adjustment will enhance the competition's opportunities and provide additional financial resources for technology startups, allowing them to expand their projects.

For context, the President Tech Award was launched in 2023 at the President's initiative as the primary national competition in the technology sector. Since its inception, the competition has attracted over 13,000 participants and more than 1,500 projects. Previous seasons have resulted in the creation of over 400 jobs, with startups actively growing not only in the Uzbek market but also on an international scale. In 2025, the competition recorded a historic high with 6,000 applications submitted.

Notably, the 2024 winner, TASS Vision, secured €1.3 million in international investment in 2025 and is currently operating in 10 countries. The total investment raised has surpassed $2 million.

Experts believe that the increase in the prize fund will enhance the President Tech Award's reputation as a vital platform for developing technological projects and facilitating their entry into the global market.