12 TEAMS PRESENTED ITS STARTUPS TO INVESTORS ON "DEMO DAY"
On November 29, 2017, the final stage of the three-month program for supporting youth start-up initiatives
19 teams successfully passed the final of the second cycle of the program and 12 of them were given the opportunity to present their start-up projects to potential investors and interested organizations at the special event "Demo Day".
The formation and development of start-ups created by young entrepreneurs make it possible to generate new cutting-edge ideas and create an environment for strengthening the competitiveness of the sectors of the national economy and to enhance the innovative potential of our country. Participation of young people in the development of entrepreneurship allows strengthening innovative development to stimulate their creative potential.
In Uzbekistan, young people, more than 60% of the population, are the driving force that can contribute to the development of the country through innovative projects. In Uzbekistan, the "Startup Initiative" program was the first initiative aimed at supporting youth start-ups and organized with the assistance of the public sector.
The program is aimed at students and the teaching staff of higher educational institutions.
This year the second cycle of the program was conducted and covered all regions of Uzbekistan. Out of 419 applications from 57 universities of the country, having passed a multi-stage competitive selection, 40 projects were able to participate in the program.
Within the framework of the three-month program, the participants, guided by trackers (individual mentors), tested their hypotheses, created minimal working models, studied the target audience, received feedback, analyzed the shortcomings of the project and improved it.
Participants attended a five-day workshop aimed at explaining the methodology of the "Lean Start-up", studying the fundamentals of developing a start-up and turning it into a successful business.
The "Startup Initiative" program is implemented in accordance with the Strategy of Action on five priority areas of development of Uzbekistan, and the Global Agenda for the Achievement of the Sustainable Development Goals adopted by the UN member states. The support program is a new and promising model for the development of technological entrepreneurship, created to support youth in turning ideas into successful start-ups.
In its turn, the success stories of the program are not only new jobs, the development of innovations, but also an opportunity to promote an entrepreneurial culture and involve more young people in the implementation of new ideas, and, ultimately, the creation of their own start-ups.