Uzbekistan Ecosystem Landscape

Uzbekistan, located in Central Asia with a population of over 36 million, is transitioning from a state-led economy to a market-driven one. The capital, Tashkent, is the country’s main economic and innovation hub, home to the highest concentration of startups and tech activity. Economic reforms, foreign investment, and a focus on digital transformation have supported steady growth, with the country’s GDP growing by 5.6% in 2024. While traditional sectors like agriculture and textiles remain important, newer industries such as fintech, edtech, and AI are expanding rapidly.

The startup ecosystem has gained strong momentum, especially after the launch of the Digital Startups Program in 2024. This government initiative supports startups under seven years old with incentives like co-investments, grants, and low-interest loans. A standout success is Uzum, Uzbekistan’s first unicorn, which highlights the growing strength of the ecosystem. IT Park Uzbekistan, established in 2019, plays a key role by offering infrastructure, mentorship, and funding. Its venture fund, IT Park Ventures, launched in 2024 with $10 million, focuses on high-growth sectors like digital tech and gaming. The government has also restructured national funding tools to attract foreign venture capital and improve local financing options.

With over 260 active startups in Tashkent alone, the city continues to lead the ecosystem. Hubs like U-Enter provide incubation, training, and mentorship for early-stage companies. Fintech and edtech are among the fastest-growing sectors, and the government is investing in AI with a national strategy in place through 2030. Uzbekistan’s IT Visa makes it easier for foreign tech professionals to relocate, while partnerships with global accelerators like Plug and Play help local startups access international markets. These combined efforts are positioning Uzbekistan as a rising startup and innovation hub in Central Asia.