This article examines the financing and credibility dynamics of the early-stage startup ecosystem in Uzbekistan and their implications for entrepreneurship policy. Using an interpretivist, qualitative approach, it analyses twelve semi-structured interviews with seven founders and five investors through thematic analysis. Four dynamics emerge: the dominance of government-backed capital and its distinctive incentives; the weak accountability of grant funding; the signalling of credibility through physical presence and social-media visibility rather than product or financial metrics; and the cost of oversized early equity demands. The article recommends milestone-based financing, investor-readiness support and equity discipline at the angel stage.
| Mualliflar | Azimova , Kamola, Азимова , Камола, Azimova , Kamola |
|---|---|
| Jurnal | Иқтисодий тараққиёт ва таҳлил |
| Nashr sanasi | 2026-07-31 |
| Jild | 4 |
| Son | 7 |
| Betlar | 34-40 |
| Til | Ingliz |
| DOI | 10.60078/2992-877x-2026-vol4-iss7-pp34-40 |
DOI: 10.60078/2992-877x-2026-vol4-iss7-pp34-40 · Maqolaning asl sahifasi
startup ecosystem, venture financing, grants, credibility, legitimacy, Uzbekistan, стартап-экосистема, венчурное финансирование, гранты, доверие, легитимность, Узбекистан, startap ekotizimi, venchur moliyalashtirish, grantlar, ishonch, legitimlik, Oʻzbekiston
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