Baku, Azerbaijan, Sept. 13
Trend:
The Uzbek government has granted start-ups new benefits, Uzbek media reported citing the Ministry of Justice.
In this regard, the government adopted a resolution "On measures to further support innovations".
The fund for the support of innovative technologies and ideas will allocate grants or interest-free loans to start-ups that envisage the creation and commercialization of local scientific developments. At the same time, investors must contribute at least 30 percent of their own funds.
An innovative startup accelerator and start-up incubator are being created in the Center of Advanced Technologies. There, small high-tech companies will be provided with leased laboratory equipment, production facilities and office premises for a period of two years (the period can be extended to five years, which is subject to agreement with the MInistry of Innovation Development).
Residents of the Center for Advanced Technologies until January 1, 2022 are exempt from: land tax; profit tax; property tax for legal entities; single tax payment; customs payments for imported raw materials and components (except for customs registration fees).