Shavkat Mirziyoyev, the President of Uzbekistan, recently reviewed a comprehensive project aimed at developing a strategic plan for artificial intelligence (AI) until 2030, with a focus on applying these new technologies in critical sectors such as agriculture and healthcare. The initiative reflects Uzbekistan's commitment to advancing its technological infrastructure and integrating AI into key industries to drive innovation and efficiency. In 2023, the country's startup ecosystem attracted $133.5 million in venture investments. However, it was noted that only a small fraction, about $5 million, came from local venture funds, with the majority of funding sourced from international investors. This highlights the need for stronger local investment mechanisms to support the burgeoning startup landscape.

The President has emphasized the importance of fostering an environment conducive to venture investments, particularly in financing startups. To address this, he has directed efforts toward developing the startup ecosystem and implementing venture financing mechanisms. According to First Deputy Minister of Digital Technologies, Olimjon Umarov, Uzbekistan currently hosts over 400 startups, with 10% of them successfully attracting foreign investments. To further support this ecosystem, the government has outlined a two-year startup development program that includes the launch of a $10 million venture fund in September. This fund is expected to provide much-needed capital to early-stage startups, boosting their growth and potential.

Looking ahead, the plan for the next year involves several strategic initiatives to bolster Uzbekistan's position in the global startup ecosystem. These include attracting foreign accelerators and incubators, establishing a unified electronic platform for startups, improving the legislative framework, and enhancing the country's standings in international rankings. Additionally, a significant milestone for Uzbekistan's tech industry was achieved when Uzum, a prominent startup, attracted $116 million in investments since the beginning of 2024, making it the first technology "unicorn" in the republic. This achievement underscores the potential of Uzbekistan's startup ecosystem and the opportunities available for further growth and innovation in the region.