A recent panel session at the Tashkent International Investment Forum (TIIF) entitled “Youth in Business: Inspiration, Innovation, Success,” convened young entrepreneurs from Uzbekistan to exchange their experiences and insights on cultivating youth entrepreneurship in the country. The session was moderated by Muzaffar Djalalov, Rector of Inha University in Tashkent, and featured a panel of esteemed speakers from diverse sectors.
The panel comprised notable figures such as Feruz Ablayarov, Deputy Director of the Agency for Youth Affairs; Diana Ryan, Government Affairs & Public Policy Lead at HP Inc. for Central Asia and Türkiye; Stephen Lin, founder of Swift Launch and Sturgeon Capital Venture Partner; Dilfuza Kurolova, founder of the Global Shapers Tashkent Hub; and Rustam Rahmatov, founder of Iman Invest.
During the session, the speakers addressed the audience on the topic of nurturing entrepreneurship and fostering youth-driven businesses in Uzbekistan. They engaged in a candid dialogue about the obstacles hindering youth participation in entrepreneurship and identified essential government support mechanisms required to foster the growth of youth startups.
Feruz Ablayarov highlighted government initiatives aimed at bolstering youth entrepreneurship, particularly emphasizing the support extended to women in business and the promotion of gender equality within the entrepreneurial ecosystem. He disclosed plans to allocate a portion of loans for entrepreneurship to the youth, with approximately 40% earmarked for youth business ventures. Ablayarov also commended the involvement of multiple banks in facilitating access to these loans.
Reflecting on Uzbekistan’s commitment to nurturing entrepreneurship, Muzaffar Djalalov emphasized the demographic advantage of a youthful population in the country. He underscored the government’s efforts in supporting youth entrepreneurship and promoting gender equality within the entrepreneurial ecosystem.
The government of Uzbekistan’s declaration of 2024 as the “Year of Youth and Business Support” underscores its commitment to this cause, further highlighting the significance of fostering youth entrepreneurship in the country.
Dilfuza Kurolova, from the Global Shapers Tashkent Hub, emphasized the importance of continual progress, urging aspiring entrepreneurs to persist in their endeavors to effect positive change in the world. She highlighted the need for ongoing support and encouragement for young entrepreneurs.
Stephen Lin introduced the “Quick Start” youth support program, emphasizing the availability of resources and opportunities for young individuals to develop the necessary skills for launching their ventures. He underscored the importance of providing support and guidance to young entrepreneurs as they embark on their business journeys.
Throughout the session, the speakers shared their personal entrepreneurial journeys and insights, providing valuable advice and encouragement to aspiring entrepreneurs. Rustam Rahmatov, in particular, acknowledged the inherent challenges of entrepreneurship but encouraged perseverance in the face of adversity, emphasizing the need to overcome obstacles to achieve success.
The panel discussion at TIIF-2024 provided a platform for young entrepreneurs to share their experiences and insights, fostering a dialogue on the importance of nurturing youth entrepreneurship in Uzbekistan. It highlighted the government’s commitment to supporting and promoting entrepreneurship, particularly among the country’s youth. Aspiring entrepreneurs were encouraged to pursue their ventures and strive for success in the ever-evolving business landscape.
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