President Shavkat Mirziyoyev announced on February 24 during a meeting with youth that he has ordered the prize fund for the President Tech Award competition to be increased to $5 million.

According to the IT Park press service, this decision aims to support startups, encourage young developers, and foster technological entrepreneurship in the country.

Under the new arrangement, $1 million will be allocated as grants, with the remaining $4 million provided as venture investments. This will expand the competition's opportunities and create additional financial resources for startups.

The President Tech Award is a national competition established in 2023, held annually across five key areas. Previously, the prize fund was $1 million.

By 2025, the competition has attracted 6,000 participants. The 2024 winner, TASS Vision, secured €1.3 million in international investment and operates in 10 countries.

Following the president's February 11 decree, a comprehensive startup ecosystem is being implemented. Targets for 2030 include increasing the number of startups to 5,000, boosting venture investments to $2 billion, and creating over 20,000 jobs.

Source: www.gazeta.uz