Forwarded from Enterprise Uzbekistan
Our third CustDev session — this time with venture funds and investors
3 things came out of the discussion:
1️⃣ Rules change after the money is in. Funds have faced situations where the regulatory ground shifted mid-investment — turning a calculated risk into an unexpected multi-million dollar cost.
2️⃣ Buying into a local company shouldn't require a three-step currency conversion through local banks. The mechanics of paying for a deal in Uzbekistan are complex enough to make investors walk away.
3️⃣ Fund infrastructure doesn't exist yet. LP/GP structures, SAFE instruments, fast fund registration — the tools that make venture work globally aren't available locally. Funds end up structuring everything offshore by default.
Enterprise Uzbekistan's constitutional framework locks in conditions through 2100 — protection against retrospective changes is written in. Fund structures under English and Welsh Common Law are part of what's being built. The goal is a registered, operational fund in 30 days or less.
We came in with one list and left with a longer one. How Enterprise rules interact with local legislation when they conflict — still needs to be sharper. Whether deals inside the zone can be priced in foreign currency — still being worked out with the Central Bank.
None of this was wasted. Everything raised goes directly into the proposals we're developing.
CustDev sessions continue through June 5. Register.
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3 things came out of the discussion:
1️⃣ Rules change after the money is in. Funds have faced situations where the regulatory ground shifted mid-investment — turning a calculated risk into an unexpected multi-million dollar cost.
2️⃣ Buying into a local company shouldn't require a three-step currency conversion through local banks. The mechanics of paying for a deal in Uzbekistan are complex enough to make investors walk away.
3️⃣ Fund infrastructure doesn't exist yet. LP/GP structures, SAFE instruments, fast fund registration — the tools that make venture work globally aren't available locally. Funds end up structuring everything offshore by default.
Enterprise Uzbekistan's constitutional framework locks in conditions through 2100 — protection against retrospective changes is written in. Fund structures under English and Welsh Common Law are part of what's being built. The goal is a registered, operational fund in 30 days or less.
We came in with one list and left with a longer one. How Enterprise rules interact with local legislation when they conflict — still needs to be sharper. Whether deals inside the zone can be priced in foreign currency — still being worked out with the Central Bank.
None of this was wasted. Everything raised goes directly into the proposals we're developing.
CustDev sessions continue through June 5. Register.
Telegram | Facebook | Instagram | LinkedIn | X
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O‘zbekiston Respublikasi Iqtisodiyot va moliya vazirligi hamda BMT Taraqqiyot Dasturi qo‘shma loyihasi doirasida, IT Park Uzbekistan bilan hamkorlikda amalga oshirilgan hududiy startaplarni qo‘llab-quvvatlash dasturi o‘z nihoyasiga yetdi.
Dastur yakunida Termiz va Farg‘ona shaharlarida Demo Day tadbirlari o‘tkazilib, eng faol va istiqbolli 22 ta startap o‘z loyihalarini ekspertlar va ekotizim vakillari oldida taqdim etdi.
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The Regional Startup Support Program, implemented in collaboration with IT Park Uzbekistan under the joint project of the Ministry of Economy and Finance of the Republic of Uzbekistan and the United Nations Development Programme (UNDP), has successfully concluded.
At the final stage of the program, Demo Day events were held in Termez and Fergana, where 22 of the most active and promising startups presented their projects to experts and ecosystem representatives.
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Andijonda bo‘lib o‘tayotgan hakatonning ilk kuni juda qaynoq kayfiyatda bo‘lib o‘tdi.
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The first day of the hackathon in Andijan took place in a highly energetic and intense atmosphere.
@startupbaseuz
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Forwarded from Enterprise Uzbekistan
The Constitutional Law behind Enterprise Uzbekistan is making its way through the Senate
Today, the Senate Committee on Science, Education and Healthcare discussed the Constitutional Law "On the International Centre for Digital Technologies" and voted to include it on the agenda of the next plenary session.
What the law covers:
✔️ Special legal regime based on international commercial standards
✔️ Clear procedures for interacting with government bodies
✔️ Flexible tax and customs framework
By 2030: $5B in digital services exports, 300,000+ high-income jobs, and the conditions for Uzbekistan's brightest talent to stay and build.
For a full overview — including the elements of English and Welsh Common Law foundation and guarantees through 2100 — read our earlier coverage here.
Read more here.
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Today, the Senate Committee on Science, Education and Healthcare discussed the Constitutional Law "On the International Centre for Digital Technologies" and voted to include it on the agenda of the next plenary session.
What the law covers:
By 2030: $5B in digital services exports, 300,000+ high-income jobs, and the conditions for Uzbekistan's brightest talent to stay and build.
For a full overview — including the elements of English and Welsh Common Law foundation and guarantees through 2100 — read our earlier coverage here.
Read more here.
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