THE ECONOMIC ROLE OF INNOVATIVE STARTUPS IN DIVERSIFYING LOCAL INDUSTRY

This study explores the economic role of innovative startups in diversifying Uzbekistan’s local industry, emphasizing the rapid growth of the country’s startup ecosystem, investment inflows, and institutional support such as IT Park Uzbekistan. Findings indicate that the ecosystem has gained global recognition, attracted substantial venture and early-stage investment, and facilitated the establishment of export-oriented companies, fostering high-value service sectors and industrial diversification. The analysis highlights that innovation-driven startups contribute not only to economic growth but also to job creation and the modernization of local industry. The study concludes that sustained policy support, access to financing, and global partnerships are essential to strengthen the role of startups as drivers of industrial diversification and inclusive economic development.

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