Startups are newly emerging businesses mostly evolving through innovative ideas that seek to meet people’s needs in ways never known before.

Varied, as startups can be, ICT startup projects seem to be the most popular. Low-investment, based on state-of-the-art technologies and promising to grow into rapidly evolving corporations such as Google and Facebook, IT-startups are becoming increasingly popular with creative and self-motivated young people.

The UNDP and Chamber of Commerce and Industry “Business Forum of Uzbekistan (Phase-III)” project special component in cooperation with the “Startup Innovation Group” company that is planning to support ICT startup projects of talented youth.

The initiative seeks to provide technical support to the ‘Startup Innovation Group’ company in developing and implementing a pre-acceleration program ‘Idea Lab’ to test the most innovative startup ideas proposed by the talented youth. The partners are planning to organize ICT-startup development master-classes in three regions of the country, announce an open competition to call for the best ideas and help young entrepreneurs develop their startup projects through an accelerated business support program.

During the meeting, the ‘Idea Lab’ pre-acceleration program objectives and work methods presented and prospects for cooperation with interested institutions were discussed. The meeting gathered representatives from government ministries and agencies, universities and IT companies.

Uzbekistan is currently witnessing the formation of the startup culture. Given the uniqueness of startup acceleration techniques, this early-stage business support model is expected to expand and become an essential part of startup technology development ecosystem of Uzbekistan.

Earlier, there had been a round table to discuss inclusive business development in Uzbekistan, engaging the private sector, and expanding investments in this field. So, the proposed initiative for start-up projects is planned to be implemented with the support of Sasol, a South African company. Previously, the “Business Forum of Uzbekistan (Phase-III)” project and Sasol have already implemented jointly several inclusive projects aimed at improving people’s living standards in Yangiyul and Urgench.

“Business Forum of Uzbekistan (Phase-III)” project is a joint initiative of the Chamber of Commerce and Industry and UNDP, and is aimed at improving the business environment in the country by introducing online services, enhancing the regulatory framework and promoting the development of inclusive business models.