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

The President of Uzbekistan, Shavkat Mirziyoyev, has instructed that the total prize fund of the President Tech Award competition be increased to $5 million.

The head of state emphasized that this decision was made to support startups, encourage young programmers, and foster the development of technological entrepreneurship in the country. Until now, the competition’s prize fund amounted to $1 million: first-place winners received $100,000, second place received $50,000, and third-place winners received $25,000.

Under the new rules, $1 million of the allocated funds will be provided in the form of grants, while the remaining $4 million will be distributed as venture investments. This will expand the competition’s opportunities and create additional financial resources for technology startups, enabling them to scale their projects.

For reference, the President Tech Award was established in 2023 at the initiative of the President as the country’s main national competition in the field of technology. Since then, the competition has brought together more than 13,000 participants and over 1,500 projects. As a result of previous seasons, more than 400 jobs have been created, and startups are actively developing not only in the Uzbek market but also internationally. In 2025, a record figure in the competition’s history was recorded, with 6,000 applications submitted.

In particular, the 2024 winner, TASS Vision, attracted €1.3 million in international investment in 2025 and now operates in 10 countries. The total amount of investment raised has exceeded $2 million.

According to experts, the expansion of the prize fund will strengthen the President Tech Award’s status as an important platform for developing technological projects and supporting their entry into the global market.