MAIN DIRECTIONS FOR FURTHER DEVELOPMENT OF INNOVATION AND STARTUP ECOSYSTEM IN UZBEKISTAN

Abstract

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.