Development of Women’s Entrepreneurship in Uzbekistan in the Context of Modern IT Progress

Introduction

Women’s entrepreneurship is a key factor in transforming the global economy. Closing the gender gap in business could add tens of trillions of dollars to global GDP. According to the Global Entrepreneurship Monitor (GEM), 2024 marked steady growth in women’s business activity: the share of women engaged in launching new startups (TEA) increased from 6.1% in 2001–2005 to 10.4% in 2021–2023. Moreover, about one-third of high-growth startups and nearly 40% of export-oriented enterprises are led by women, underscoring their role in fostering innovation and expanding markets. The World Bank estimates that equal access for women to economic opportunities could raise national economic growth rates by 20% or more.

Women in business contribute to diversifying perspectives, fostering innovation, and ensuring more balanced governance. According to research by the Boston Consulting Group (BCG), in 2025, companies with gender-diverse management teams generate 19% more revenue, while women-founded startups, even with smaller investment volumes, achieve twice the revenue per invested dollar compared to those founded by men — approximately $0.78 in revenue per $1 of investment, compared to $0.31 for male-founded startups.

At the same time, the path of women in business has always been associated with a number of structural constraints. These include limited access to finance, a shortage of mentors, insufficient presence in professional networks, and the heavy burden of family care responsibilities. Women also frequently encounter investor distrust. A joint study by BCG and MassChallenge (2018) revealed that startups involving women received twice less investment (USD 935,000 versus USD 2.1 million), despite demonstrating 10% higher returns in the long term.

Nevertheless, women’s entrepreneurship is developing rapidly. In Uzbekistan, according to UNDP data, by 2024 the number of women entrepreneurs reached 2.1 million — a sevenfold increase compared to 2020. Women already account for a significant share of small and medium-sized businesses, particularly in trade, services, agriculture, and handicrafts. However, surveys show that 48% of women and girls in Uzbekistan continue to experience a heavy burden of family care and face limited access to finance — barriers that remain key obstacles to the growth of their businesses.

Governmental, private, and international institutions are already actively addressing these challenges by offering women entrepreneurs a variety of financial instruments and support measures. According to Presidential Decree of the Republic of Uzbekistan No. UP-87 dated March 7, 2022, “On Measures to Further Accelerate Systematic Support for Families and Women” the National Program for Enhancing Women’s Participation in All Spheres of Economic, Political, and Social Life for 2022–2026 was approved. The program provides subsidies, grants, concessional credit schemes, mentoring initiatives, and educational courses.

By 2025, Uzbekistan has developed a comprehensive support system for women’s entrepreneurship — ranging from concessional loan and grant programs to venture financing and mentoring support, including access to mentors, training programs, and professional networks.

Financial Support for Women Entrepreneurs in Uzbekistan

In recent years, Uzbekistan has implemented a number of significant measures to support women’s entrepreneurship — ranging from legal initiatives to systemic financing through banks, specialized funds, and international organizations.

According to Presidential Resolution of the Republic of Uzbekistan No. PP-122 “On Additional Measures to Support the Organization and Development of Women’s Entrepreneurship” dated March 7, 2024, three banks — including Halkbank and Mikrokreditbank — were allocated USD 100 million for concessional lending to women. The program provides loans for up to 7 years, with a three-year grace period and an annual interest rate of 14%, which is 2% below the market rate. In addition, 2.5 trillion Uzbek soums were allocated to support businesses founded by women.

The National Program for Enhancing Women’s Participation in All Spheres of Economic, Political, and Social Life for 2022–2026 also provides for subsidies, grants, training at business schools, and mentoring initiatives.

The State Fund for the Support of Families and Women, established in 2024, has already allocated 50 billion Uzbek soums (approximately USD 4 million) to provide loans for women entrepreneurs. Within the framework of the “Khamroh” program, launched in May 2025, grants of up to 50 million sums are offered for mentors, along with interest-free loans of up to 100 million soums for women with a positive credit history. In parallel, a digital platform “Women Entrepreneurs” has been launched, operating on the principle of a “Project Factory” It enables users to find suppliers, clients, partners, and employees online.

Financial institutions are also adapting their services to the needs of women. For example, Mikrokreditbank offers loans of up to 33 million sums without guarantors at an annual rate of 17.5%, with the possibility of applying through the online platform oilakredit.uz.

Educational Programs and Accelerators: Knowledge as Start-up Capital

Uzbekistan is actively developing a network of business incubators and accelerators aimed at supporting women. One notable example is the Women’s Startup Accelerator in the Fergana region, implemented with the support of the United Nations: 85 participants completed training, and the 18 best projects received grants and equipment.

The Moving Up program (an initiative of the EBRD and TEAM University) trains women in the fundamentals of management, marketing, and financial planning. The Tumaris.Tech project, launched by IT Park, helps women-led startups enter international markets. The “Ayollar Tashabbusi” initiative focuses on developing women’s projects in the textile and confectionery industries in the Fergana Valley.

In turn, the Social Enterprise Incubator (established by the Yuksalish Foundation and the Eurasia Foundation) provides grant support to women launching socially significant business projects.

Online learning formats are also gaining significant importance. Programs such as Erasmus+, for example, the EMPOWER project, provide women with free access to training in business launch and promotion. The Academy for Women Entrepreneurs (AWE), organized by the U.S. Embassy and the NGO Tech4Impact, offers intensive educational modules combined with alumni mentorship. Online platforms such as Coursera, SkillUp, and Udemy allow women to study finance, marketing, and management in a flexible format — particularly convenient for mothers and women from remote regions. In addition, corporate partners, including TBC Bank and Sharq Ayoli, regularly hold in-person workshops on e-commerce, social media marketing, and working with online marketplaces.

University partnerships also make a significant contribution to women’s entrepreneurial education. Universities such as TEAM University, TUIT, KIUT, and others offer distance-learning courses in areas including artificial intelligence, digital trade, and business analytics. In collaboration with UNDP and the Ministry of Economy and Finance, specialized modules are being developed, tailored to the specifics of women’s entrepreneurship.

Of particular note is the upcoming “Women Entrepreneurs” platform, which will integrate educational resources, consulting services, and networking opportunities into a single digital space — supported by Halkbank and the Chamber of Commerce and Industry.

While access to finance forms the foundation of starting a business, knowledge and skills are its driving force. That is why educational programs, accelerators, and mentoring initiatives are becoming key elements in supporting women in entrepreneurship.

 “Women for Women”: Mentorship, Communities, and Solidarity

One of the most effective forms of supporting women’s entrepreneurship is initiatives where women themselves play a key role — as mentors, partners, investors, and organizers. This model, based on mutual support and the transfer of knowledge and experience, is spreading widely both in Uzbekistan and internationally. It encompasses formats ranging from startup programs and accelerators to global mentoring networks and business communities.

International mentoring programs provide women with a unique opportunity to develop within the global business environment. The Mentoring Women in Business program by the Cherie Blair Foundation has already connected nearly 7,000 women with experienced mentors from different countries. The individual “one-on-one” format enables participants to design personalized professional growth plans. According to reports, 99% of alumnae demonstrate increased skills and confidence.

The Women Initiative Foundation implements intercorporate mentoring programs in Europe, the United States, and Asia, where top managers of large companies, including L’Oréal and Oracle, serve as mentors for women leaders. These formats are also accessible to participants from CIS countries thanks to multilingual support and flexible online delivery.

Another important example is the Fortune – Global Women’s Mentoring Partnership, which annually invites women leaders from around the world to the United States for a three-week business intensive involving executives from the Fortune 500 list.

In Uzbekistan, the principles of solidarity and mutual support are becoming part of a new entrepreneurial culture. A key player in this field is Hamroh, a company founded by women and for women. It provides free consultations, facilitates access to financing, and, since 2025, has been implementing a joint project with UNDP to accelerate women-led businesses. Its team is building a support network of practicing women entrepreneurs who share case studies, contacts, and personal experiences.

Since 2025, the Council of Women Entrepreneurs under the Chamber of Commerce and Industry of Uzbekistan has been operating as the first structure where women directly participate in shaping business policy. The Council promotes initiatives in the fields of subsidies, education, and mentorship.

Another example is the SG Women program by Startup Garage — the country’s first accelerator fully focused on women business founders. The project is managed by women from the IT sector and offers free training, mentoring support, and investor access. Mentorship in digital business and technology startups is becoming a key component of this model.

Alongside accelerators, women’s business communities play an important role. The Business-Woman.uz platform organizes training and mentorship in mini-groups, where women mentors work with several participants at once.

On the global level, dozens of open platforms are available to Uzbek women. For example, SheWorx helps attract investment: its participants have already raised more than USD 100 million. The eWomenNetwork unites more than 500,000 women entrepreneurs worldwide, offering online training and networking opportunities. The Women for Women International platform supports women from crisis regions, but its methodologies — based on building “sisterhood” communities and teaching business skills — are also applicable in peaceful environments. Industry-specific networks are also active: Women Who Tech supports women in IT startups, while the Ellevate Network helps build career growth and mentorship in the corporate sector.

All of these formats are based on the principle of horizontal connections: each participant both receives support and has the opportunity to share her own knowledge and resources. In this way, the “women for women” model becomes not only an effective tool for developing entrepreneurship, but also a means of shaping a new economic and social architecture — one in which business serves as a space of empowerment, solidarity, and growth.

Corporate Initiatives and Social Responsibility

Worldwide, the support of women’s entrepreneurship is becoming an integral part of corporate social responsibility (CSR) strategies. International corporations implement programs aimed at training, mentorship, and expanding women’s access to markets and financing. The Coca-Cola 5by20 program has reached more than 6 million women in 100 countries, providing them with knowledge in business, marketing, and management. Through its 10,000 Women initiative, Goldman Sachs offers free business management courses and builds a global alumnae community. Meanwhile, the Cartier Women’s Initiative annually supports women-led, socially oriented startups from around the world.

Among the programs available to Uzbek women and girls are Visa She’s Next — a grant and mentorship platform in IT and programming, and the Academy for Women Entrepreneurs (AWE) — online courses and mentoring delivered by the Thunderbird School of Global Management with the support of the U.S. Embassy.

Uzbekistan is also developing a local ecosystem for supporting women in entrepreneurship. The supermarket chain Korzinka has introduced large-scale gender initiatives: in December 2023, the company received the Women’s Leadership Award in the category “Best Corporate Project for Supporting Women” for its campaign to sign the UN Women’s Empowerment Principles (WEPs) and for organizing training seminars for its female employees aimed at improving financial and digital literacy as well as leadership skills.

Beeline Uzbekistan finances IT competitions and hackathons, and serves as a partner of the “First Among Equals” award, supporting women in the technology sector.

Of particular note is the active work of Women in Tech Uzbekistan. Established in March 2024 as a regional chapter of the global foundation, Women in Tech Uzbekistan has, in just a year and a half, established itself as a key player in the development of the women’s IT community. Partnerships with New Uzbekistan University, IT Park University, Apple, and IT Park Uzbekistan made it possible to organize a traveling Roadshow across 14 regions for more than 2,000 participants, as well as over 40 thematic events (including Women in Tech Talks, Career Development Sessions, and IAmRemarkable workshops). In October 2024, Tashkent hosted the first-ever Women in Tech CCA Awards ceremony in Central Asia, and in spring 2025 the team received the Youth Engagement Award at the international summit in Osaka. These projects, implemented with the support of both public and private partners, contribute to building an inclusive and dynamic ecosystem for women entrepreneurs in Uzbekistan.

Thus, corporate and international CSR projects make a significant contribution to the development of women’s entrepreneurship, fostering a sustainable and inclusive environment for growth — both in Uzbekistan and beyond.

Flexibility as a Condition for the Growth of Women’s Business

Flexibility has become a crucial factor in making entrepreneurship accessible to women, especially for mothers who balance business activity with family care. In Uzbekistan, nearly every second aspiring woman entrepreneur structures her work schedule around childcare. Therefore, digital and infrastructural solutions that enable women to choose convenient times and places for work are critically important for the development of women-led businesses.

Remote employment and digital entrepreneurship have already opened new opportunities for thousands of women. The growth of e-commerce, marketplaces, and social media makes it possible to launch online shops, provide consulting services, and create digital products without being tied to an office. Platforms such as Wildberries train women in Central Asia in online sales, while the international SheTrades program integrates women entrepreneurs, including those from Uzbekistan, into global supply chains.

Flexible schedules, freelancing, and project-based work provide women with the freedom to operate at their own pace. Legislation in Uzbekistan allows for individual labor agreements, enabling women to combine business and family responsibilities. Increasingly, women are building remote teams in fields such as accounting, marketing, and IT.

Although coworking spaces with childcare facilities are still rare in Uzbekistan, international experience demonstrates the potential of such solutions. In Berlin, JuggleHub combines office space with professional childcare, while in the United States, The Haven integrates a workplace with a kindergarten. Similar models could serve as the foundation for future women-led initiatives in Uzbekistan.

Thus, flexible work formats are becoming an important driver of women’s business growth. Their development paves the way for women’s full participation in the economy, eliminating the perceived contradiction between family and career.

Conclusion

Today, business is playing an increasingly active role in supporting women entrepreneurs. Large organizations are launching acceleration programs, providing corporate grants, and organizing training sessions aimed at developing entrepreneurial skills and leadership qualities among women. Banks and private companies are also introducing tailored financial solutions — with reduced interest rates, simplified procedures, and additional expert consultations.

Business incubators, startup programs, and coworking spaces designed specifically for women are gaining particular importance. They create a favorable environment for launching and scaling business projects, expanding professional networks, and gaining access to mentorship and expert support. Such initiatives not only strengthen women’s positions in entrepreneurship but also contribute to building a more inclusive, innovative, and sustainable economy — where women-led businesses become a key driver of social and economic development.