Rules regulating the creation of commercial companies involving universities and scientific institutions have been approved in Uzbekistan. These enterprises will engage in producing goods and providing services based on the results of scientific research.
These new structures will be eligible to apply for various types of support, including tax incentives, financial assistance, and the use of existing university infrastructure. The goal of this mechanism is to assist scientists in bringing their developments to the market in the form of finished products.
For an organization to be included in the relevant register and benefit from assistance, the university or scientific institution must own at least 25% of the company's charter capital. Furthermore, a detailed business plan must be provided, and it must be documented that the proposed product is based on their own developments. The necessary capital can be formed by attracting investors, venture funds, or using non-budgetary funds.
Enterprises whose developments are protected by patents will enjoy special benefits. For companies using non-patented solutions, the profit tax rate is reduced by half until May 2029. Universities can also lease land and buildings to their subsidiary companies and provide them with financial support.
The application process is carried out through a specialized electronic platform. Expert review will be conducted by the Agency for Innovation Development within ten days, after which a special council makes the final decision. The certificate of inclusion in the register is issued within three days and is valid for five years.
During the five-year investment period, the state's share in these enterprises cannot be privatized. After this period, the state will be offered the opportunity to sell its share to other participants, or if it declines, it will be put up for auction. The Agency for Innovation Development also plans to regularly organize competitions to finance projects that contribute to turning scientific ideas into commercial products.
Previously, a decree was adopted in Uzbekistan aimed at accelerating the integration of scientific achievements into the real economic sector. This document provided for mechanisms for creating 'spin-off' companies and established tax incentives and additional support measures for both scientists and entrepreneurs.
