Uzbekistan boosts startup funding and expands youth support

During an open dialogue with young people, President Shavkat Mirziyoyev announced an expansion of state support for startups. The prize fund of the President Tech Awards will be increased to $5 million, 40 of the best youth projects will receive funding totaling 2 billion soums, and an international startup summit, “Take Off,” will be held in Samarkand. 

The open dialogue took place on February 24 at the Kuksaroy residence, bringing together more than 60,000 young people from Karakalpakstan, various regions of the country, and Tashkent. The meeting focused on creating additional opportunities in education, employment, entrepreneurship, and the implementation of youth initiatives. 

One of the key topics discussed was the development of the startup ecosystem. The President announced that 40 of the best youth startups would receive funding totaling 2 billion soums. The funds will be allocated for project development and scaling, the implementation of innovations, and entry into new markets. 

Additionally, within the framework of the “Growth and Development (Upshift)” project, competitions are scheduled for 2026 in the fields of media, design, crafts, manufacturing, and innovation. 

During the dialogue, the head of state reviewed presentations by the winners of the “Best Startup in Digital Technologies” competition — the President Tech Award. The competition has been held since 2023 by the Directorate of the Technology Park of Software Products and Information Technologies with the support of the Ministry of Digital Technologies. Until now, its prize fund amounted to $1 million. 

The President instructed that the total prize fund of the President Tech Awards be increased to $5 million. Previously, the prizes were set at $100,000 for first place, $50,000 for second place, and $25,000 for third place. According to the head of state, this decision aims to further support startups and encourage young programmers. 

Interest in the competition continues to grow: while more than 4,000 people participated in the first season, by 2025 the number had reached 6,000, and the number of teams increased from 444 to 862. 

In addition, an international startup summit, “Take Off,” is scheduled to take place in Samarkand this year. The event is expected to serve as a platform for youth entrepreneurship, support innovative projects, and expand international cooperation. 

The President emphasized that the state is committed to creating conditions for small startups to grow into large-scale, sustainable businesses. The expansion of funding and increase in the prize fund create additional opportunities for IT Park Uzbekistan to attract promising teams, launch new technological products, and accelerate the growth of its residents. This will allow more projects to move beyond the early development stage, strengthen their market positions, and scale up with the support of IT Park Uzbekistan’s infrastructure and expertise.