Uzbekistan-South Korea: Cooperation in developing the startup ecosystem and venture financing continues to expand

The meeting was attended by Minister of Higher Education, Science and Innovation Qo‘ng‘ratboy Sharipov, Acting Director of the Innovation Development Agency Asror Norov, Honorary Professor of Suncheon National University Seungju Baek, and representatives of the Korea Development Institute (KDI).

The discussion focused on the grant project “Supporting the Development of the Startup Ecosystem and Venture Financing in Uzbekistan”, implemented jointly with KDI within the framework of the Knowledge Sharing Program (KSP).

During the negotiations, the parties exchanged views on advancing the startup environment in Uzbekistan, supporting innovative entrepreneurship, improving mechanisms of venture financing, and adapting Korea’s best practices to local conditions.
The parties also reviewed planned analytical studies, regulatory proposals, and institutional development components under the project.

At the conclusion of the meeting, the sides expressed confidence that this grant project would play an important role in strengthening Uzbekistan’s innovation ecosystem and introducing international best practices. Following the discussions, an agreement outlining future cooperation under the project was signed.

Additionally, a seminar was conducted by Korean experts for specialists of relevant ministries and agencies, focusing on the development of the startup ecosystem in Uzbekistan, support for innovative entrepreneurship based on Korean experience, and improving venture financing mechanisms.