The World Bank (WB) supports Uzbekistan’s investment in research and commercialization of innovations.
The World Bank’s Board of Executive Directors has approved $50 million for the “Modernization of the national innovation system in Uzbekistan” project.
“The new project, supported by the World Bank, will help the government develop a national innovation system that can operate in the market economy. This will help develop cooperation between the government, research organizations and the private sector in the field of research and commercialization of scientific and innovative products and services,” Marco Mantovanelli, WB Country Manager for Uzbekistan, said.
The project will contribute to the conduct of international-level research in public research institutes and universities, and will enable the commercialization of the results of their work. Researchers from these organizations can apply for grants to fund about 50 research projects, including joint projects involving international researchers and the private sector.
Research topics can be on renewable energy sources, low-carbon technologies, various topics in medicine and virology, including coronavirus, and other promising areas of science and technology. It is planned to publish about 50 articles in international expert journals on the results of research funded by the project.
In addition, local firms and companies can receive about 30 grants to invest in startups and research new or existing innovative products and services that meet the demand in local and international markets. They will be able to apply for funding projects in medicine, pharmaceuticals, biotechnology products, services, as well as other promising areas of science and technology.
The project will allocate funds for the modernization of infrastructure and laboratories of individual research institutes, the list of which will be approved by the Ministry of Innovation Development after a comprehensive assessment of the needs of relevant organizations.
The project funds will also be used to prepare the necessary legal framework to regulate the commercialization of research and innovation in Uzbekistan, as well as to carry out relevant institutional reforms in these areas.
WB is currently providing technical assistance to Uzbekistan and financing 24 projects worth more than $4.45 billion. These funds are being directed to the implementation of important economic reforms, modernization of agriculture, healthcare, education, water supply and sanitation, energy, transport, social protection, urban and rural infrastructure.
By Sher Karimov