Uzbekistan boosts startup funding and expands youth support

During a dialogue session with youth, President Shavkat Mirziyoyev revealed plans to enhance state support for startups. The prize fund for the President Tech Awards will be raised to $5 million, with 40 outstanding youth projects receiving a total of 2 billion soums in funding, and an international startup summit titled “Take Off” will be hosted in Samarkand.

This open dialogue occurred on February 24 at the Kuksaroy residence, gathering over 60,000 young individuals from Karakalpakstan, various regions across the nation, and Tashkent. The discussions centered on creating more opportunities in education, employment, entrepreneurship, and the execution of youth initiatives.

A significant topic of conversation was the advancement of the startup ecosystem. The President announced that 40 of the top youth startups would be awarded funding amounting to 2 billion soums. These funds are intended for project development and scaling, the adoption of innovations, and market expansion.

Moreover, as part of the “Growth and Development (Upshift)” initiative, competitions are planned for 2026 in areas such as media, design, crafts, manufacturing, and innovation.

During the dialogue, the President reviewed presentations from the winners of the “Best Startup in Digital Technologies” competition — the President Tech Award. This competition has been conducted since 2023 by the Directorate of the Technology Park of Software Products and Information Technologies, with backing from the Ministry of Digital Technologies. Previously, the prize fund was set at $1 million.

The President directed that the total prize fund for the President Tech Awards be increased to $5 million. Previously, prizes were allocated as $100,000 for first place, $50,000 for second place, and $25,000 for third place. According to the President, this decision is aimed at further supporting startups and motivating young programmers.

Interest in the competition has been on the rise: while over 4,000 individuals participated in the inaugural season, the number grew to 6,000 by 2025, and the count of teams increased from 444 to 862.

Additionally, the international startup summit “Take Off” is set to occur in Samarkand this year. This event is anticipated to provide a platform for youth entrepreneurship, support innovative projects, and foster international collaboration.

The President highlighted that the state is dedicated to fostering an environment where small startups can evolve into large, sustainable enterprises. The growth of funding and the enhancement of the prize fund provide further opportunities for IT Park Uzbekistan to draw in talented teams, introduce innovative technological products, and expedite the development of its residents. This will enable a greater number of projects to progress past the initial development phase, bolster their market presence, and expand with the backing of IT Park Uzbekistan’s resources and knowledge.