Uzbekistan launches the "New Generation Entrepreneurs" program with the participation of leading world universities

A large-scale educational initiative, "New Generation Entrepreneurs," is launching in Uzbekistan, implemented jointly with a number of leading foreign universities. Potential partners include Harvard University, Stanford University, and the London School of Economics and Political Science.

The Agency for Youth Affairs has been instructed to organize training for at least 40,000 young people in modern approaches to doing business, using advanced international experience, in conjunction with foreign universities.

The thousand best graduates of the program will be eligible for preferential financing — up to 200 million soums for a period of three years at 7% per annum to launch their own projects.

It is also planned to hold the "Young Entrepreneurs" competition annually. As part of it, up to 1 billion soums from the "Youth Venture" fund will be allocated to the development of 100 of the most promising initiatives in order to turn them into full-fledged brands.

Commercial banks will create their own consulting structures, which this year will help 50,000 young entrepreneurs in preparing business plans — the costs of such services will be compensated. Additionally, with the participation of large retail chains and specialized experts, at least 20,000 people will receive entrepreneurship training.

From March 1, novice entrepreneurs will also begin to be reimbursed for the costs of public services related to connecting to the engineering infrastructure — funding will be provided by the Youth Entrepreneurship Fund.