100 billion soums in grants to support schoolchildren’s startups

Uzbekistan will introduce a “skills and business hour” for schoolchildren, with a total grant of 100 billion soums allocated to turn their ideas into startups. This was announced by President Shavkat Mirziyoyev on June 30 during a meeting with young people.

According to the President, a comprehensive system has been established to support startups. So far, \$145 million in venture capital has been invested in financing startup projects. He noted that this figure will be increased to \$1 billion in the future. Importantly, the effort now begins at the school level.

A special “skills and business hour” will be introduced in schools, providing students with the opportunity to turn their ideas into real business ventures with the support of a 100 billion soum grant fund.

In addition, the “Best Creative Idea” startup competition is held annually among universities, with winners receiving grants of up to 300 million soums from university innovation funds.

To support the development of prototypes, the Innovation Agency and IT Park will establish an “R\&D” center where promising startup ideas can be transformed into working models. For the best projects, up to \$50,000 in prototype development costs will be covered by the Youth Venture Fund.

The President also emphasized the importance of creating a collaborative ecosystem between innovators and investors. In line with this, the annual “Startup Expo” exhibition brings together investors, major enterprises, and startup creators to showcase emerging projects and foster partnerships.