The article provides a brief description of the state of the economy of Uzbekistan and the relevance of its further development associated with the creation and use of innovative products. The highest concentration of startup initiatives is shown in such industries as IT, FinTech, E-commerce, EdTech, AgriTech, MedTech. Most startups and resources are concentrated in the city of Tashkent and large cities  like Samarkand, Bukhara and Fergana. The factors hindering the formation of a full-fledged startup ecosystem in the country and its regions are shown. Particular attention is paid to the problem of startup financing. Weak investment support at the initial stage of startup development, the low level of venture infrastructure and the legal framework for venture capital are emphasized. The evolution of the startup ecosystem in Uzbekistan is presented, starting with support for entrepreneurship and ending with the creation of a state system of venture funds. The development of the startup ecosystem in Uzbekistan is associated with the need to improve the legal framework, create a favorable business infrastructure, and introduce new mechanisms for financial and legal support. Proposals for the further development of innovation and the startup ecosystem in Uzbekistan have been systematized.

The article examines the problems of the venture capital market. Despite the fact that this sector is well financed by the state and has large development institutions, it cannot be called successful today, a description of the current state of venture financing and its inherent problems are identified, and recommendations are developed to eliminate them.

This article provides a comprehensive analysis of the development of innovative entrepreneurship in the regions of Uzbekistan during 2024–2025. The relevance of the study is justified by the observed regional disparities in innovation activity and investment capacity. The research methodology is based on content analysis, comparative analysis, induction, and logical generalization. The author developed a Regional Innovative Entrepreneurship Index (HITI), and calculations were conducted using official statistical data. The results reveal significant territorial differentiation in innovation performance. Regions with higher index values demonstrate advanced innovation infrastructure and investment concentration, while regions with lower scores face institutional and financial constraints. The paper proposes strategic directions for improving innovation policy based on a differentiated regional approach