Uzbekistan will introduce new mechanisms for financing startups and encouraging private investment. The measures are outlined in a presidential decree adopted following the 6th Open Dialogue between President Shavkat Mirziyoyev and entrepreneurs.

The new measures will contribute to the further development of the country’s startup ecosystem, where IT Park Uzbekistan supports technology-driven projects, promotes the development of the venture capital market, and helps build infrastructure for cooperation between startups and investors.

According to the document, the “Entrepreneur of the Future” program will be implemented from 2027 to 2030. Under the program, the National Venture Capital Fund UzVC will provide competitive financing to up to 30 startups operating in eight priority areas.

Each project will be eligible to receive up to UZS 5 billion in investment. Financing will be provided for a three-year period in the form of an interest-free and collateral-free convertible loan or SAFE agreement.

The government’s equity stake in a startup will not exceed 49%. At the same time, founders will have the right to subsequently buy back the government’s stake at market value.

At the initial stage, UZS 150 billion from the state budget is planned to be allocated for the implementation of the program in 2027.

8 Priority Areas

The “Entrepreneur of the Future” program will cover startups operating in the following sectors:

A special regulatory sandbox regime will also be introduced for participants of the program.

In addition, relevant government agencies and industry organizations will support startups in establishing agreements with enterprises for pilot testing and procurement orders.

Tax Incentive for Business Angels

The decree also introduces a separate mechanism aimed at encouraging private investment in startups.

An individual who invests in a startup registered on the unified Startup Base electronic platform, including through a SAFE agreement or convertible loan, will be eligible to receive “startup investor” (Business Angel) status.

If the investor retains their stake in the startup for at least three years and subsequently sells it, the income generated from the sale will be exempt from personal income tax.

The new mechanisms are expected to expand startups’ access to financing, increase private investor participation in the ecosystem, and accelerate the commercialization and market entry of technology projects.

The decree entered into force on August 28, 2026.