Authorities in Uzbekistan have officially approved new regulations governing the establishment of commercial enterprises affiliated with universities and research institutions. These entities are intended to manufacture goods and provide services based on domestic scientific developments, supposedly helping researchers bridge the gap between theoretical findings and market-ready commercial products.

To qualify for the registry and claim state support, a university or scientific organization must own at least 25 percent of the company's authorized capital, submit a comprehensive business plan, and prove that the products rely strictly on their research. Capital formation can be achieved through extra-budgetary funds, venture capital funds, and third-party investors.

Enterprises utilizing patented technologies are slated for specific preferences, while those working with non-patented solutions will benefit from a 50 percent reduction in corporate income tax until May 2029. Furthermore, universities are authorized to lease buildings and land plots to their subsidiary companies and provide direct financial assistance.

Applications will be processed via a dedicated digital platform, with the Innovation Development Agency conducting evaluations within ten days before a special council renders a final decision. Certificates of registry inclusion will be issued within three days and remain valid for a five-year period.

State shares in these enterprises will reportedly be protected from privatization throughout the five-year investment cycle. Upon expiration of this period, the state stake will be offered to other participants for purchase, failing which it will be put up for public auction.

Source: podrobno.uz