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NEWS AND EVENTS
December 18, 2013
New business models launched in Uzbekistan
Uzbekistan’s economy every year today increasingly uses applies to global markets financial mechanisms to attract investments through IT. Implementation of two similar projects recently started in Uzbekistan.

Last week in Tashkent hosted a presentation of a unique project for the country - the first crowdfunding site - Factor.uz. The concept of crowdfunding is still fairly new to Uzbekistan. However, this “important” term hides a simple and fairly common in Europe and the U.S. mechanism of voluntary investment by Internet users to implement a large-scale project. One of the most famous of these projects is the website Kickstarter, collecting funds for a variety of creative, scientific and industrial projects. For example, in the past year to create two games offered by developers, users have posted a total of over US$6m. In Uzbekistan, the idea will work on the following principle: the author of the project will publish his idea on the site and to determine the appropriate amount of money for him to implement it. In turn, users who like the project will be able to support him financially through the payment system Uzcard or Click.

“The project is unique in that it will not only keep enterprising and enthusiastic, but also play a significant role in increasing the innovative ideas and innovative projects,” a representative of the crowdfunding site Boir Normatov said. “We plan to attract a significant amount of funding for projects of young professionals, to help them make the first step into the world of big business.”

The second project is aimed at IT development and support youth, was a joint initiative of the Chamber of Commerce and Industry of Uzbekistan and Brand.uz, under which it created a kind of platform for networking beginners seeking investors for their projects “Startup Mix”. It is planned that it will be implemented in three phases. During the first stage 8 participants have already presented innovative projects, they will be held on the second course of training seminars on IT-topics, and at the final stage meet with experts from the business and high-tech sector, to share experiences and practice to explore successful domestic business model.

According to the organizers, in the future this project can grow into a kind of national startup - a place where young programmers can come, representatives of IT-industry to communicate and work. Today these sites are actively developing worldwide, providing young professionals with a minimum deposit of funds facilities and equipment. This is a great opportunity to not only work side by side with those who share your views on the future of high technology, but also to attract strategic investors who closely follow the project startups.

(Source: “Uzbekistan Today” newspaper)


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