The research investigates how the venture capital ecosystem has evolved in Uzbekistan by studying its presentstructure, operational problems, and possible policy solutions. The essential role of venture capital in driving innovationand business growth is widely accepted, but Uzbekistan experiences limited VC activity because it operates as anemerging market. The study examines Uzbekistan's venture capital development through international data and 2024KPMG and RISE Research report findings to identify major institutional players and current investment patterns. Themain obstacles consist of restricted investor exit possibilities, inadequate financial knowledge and venture understanding,insufficient market readiness for new products, and incomplete legal and tax systems. The research comparesIsrael, Singapore, and South Korea to identify effective co-investment schemes, fund-of-funds structures, and fiscalincentive programs. The paper proposes a phased reform strategy, recommending legal and tax reforms, public-privateco-investment mechanisms, improved exit infrastructure, and enhanced ecosystem capacity building. The researchshows that Uzbekistan can accelerate sustainable private-sector venture capital market development through specificinitiatives. This will drive long-term innovation and economic diversification.
| Mualliflar | Khoshimov, Umidjon |
|---|---|
| Jurnal | Innovation science and technologiy |
| Nashr sanasi | 2025-10-01 |
| Jild | 1 |
| Son | 10 |
| Betlar | 173-182 |
| Til | Ingliz |
| DOI | 10.5281/zenodo.17453471 |
DOI: 10.5281/zenodo.17453471 · Maqolaning asl sahifasi
venture capital, Uzbekistan, innovation policy, startup financing, fund-of-funds, co-investment, emerging markets, entrepreneurship ecosystem.
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