Uzbekistan launches $5M contest to lure foreign startups
What's the deal? Uzbekistan's Cabinet of Ministers adopted resolution No. 593 on October 28, 2026, creating an annual international startup competition called Land of Startups, with a total prize fund of $5 million. The contest starts in April 2027 and runs every year across five tracks.
How it works: Twenty-five winning teams can each receive up to $200,000 from the venture fund at the IT Park directorate, subject to due diligence. The five tracks cover artificial intelligence; digital technologies in education, healthcare, and public services; financial technologies; creative industries, including games; and B2B and industrial solutions.
Why now? The resolution implements presidential measure PQ-59 of February 11, 2026, on startup support. Its stated purpose is to attract foreign startup projects and their founders, increase technology transfer, and turn the country into a regional startup hub.
What else changes? The resolution amends IT Park rules. Residents no longer need to integrate accounting tools they develop into the tax authorities' systems, and the directorate is released from submitting tax and statistical reports.
It also widens permitted activities for residents to include IoT and AI devices, microelectronics and nanoelectronics, intelligent robot production, and business angel clubs.
The bigger picture: The contest sits within a broader state-backed push, alongside a $5 million President Tech Award and a separate $1 million AI award. Together they signal Uzbekistan's bid to convert rapid ecosystem growth into a technology hub.
What could go wrong? The $200,000 payouts are investment subject to due diligence, not unconditional cash. The programme's impact hinges on whether winners actually relocate, build local operations, and attract follow-on capital.
The signal: Uzbekistan is using money as a magnet, betting that direct investment and looser residency rules can pull foreign founders into Central Asia. Whether that translates into a lasting hub will take years to judge.
Read more: tokhum.com
Image credit: Startup Stock Photos
