Tashkent, Uzbekistan (UzDaily.com) – The President Shavkat Mirziyoyev signed a Law "On Innovation Activity".

In accordance with the law, the main directions of state policy in the field of innovation have been determined.

The Ministry of Innovative Development is considered the authorized state body in the field of innovation.

The Ministry coordinates the activities of state and economic management bodies, local government bodies in this area.

According to the law, the formation and approval of the state order for the creation of innovations is carried out by the authorized state body based on the proposals of the Academy of Sciences, ministries, departments and other interested organizations.

The state provides financial support to state educational institutions specializing in training personnel in the field of innovative entrepreneurship.

According to the Law, innovations are divided into the following types:

product innovation;

process innovation;

marketing innovation;

organizational innovation.

Innovation support funds are created without forming a legal entity in order to finance the costs associated with the creation, implementation, production, technology transfer and commercialization of new developments.

The law comes into force on the day of its official publication.