Visa and Ipak Yuli Bank Launch She's Next Program in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) — Visa and Ipak Yuli Bank have officially launched the first wave of the global She's Next women's entrepreneurship initiative in Uzbekistan.

On 3 April 2026, in Tashkent, Visa and Ipak Yuli Bank jointly announced the rollout of the program, which is designed to support women who already run their own businesses as well as those who are just considering taking that first step.

The initiative has also received backing from Uzbekistan's Ministry of Digital Technologies and Hamroh, a company specializing in women's entrepreneurship development.

The first wave of She's Next in Uzbekistan launched under the slogan "Boshlang!" — meaning "Dare to Begin" in Uzbek. More than a marketing tagline, it encapsulates the initiative's central message: don't wait for the perfect moment — find the courage to take the first step.

The context surrounding the launch speaks for itself. According to a UN report, "Women's Entrepreneurship in Uzbekistan: Assessment and Recommendations," published in April 2025, approximately 2.1 million women in the country are engaged in entrepreneurial activity — seven times more than in 2020 — accounting for roughly 35% of all economically active women.

This rapid growth signals strong interest in business, but simultaneously highlights an urgent need for targeted support — financial, educational, and infrastructural.

She's Next was first launched by Visa in 2019 in the United States. Over the years, hundreds of thousands of women entrepreneurs around the world have joined the initiative. In Central Asia, the program has been operating since 2021, with more than 40,000 participants to date.

The fourth wave, which launched last year, reached a record 16,000 participants — a result that became one of the key arguments for expanding the program's geography and bringing it to Uzbekistan.

"Uzbekistan is a large and dynamically growing market with tremendous entrepreneurial potential. We see more and more women choosing the path of business, and we hope our initiative will help them scale their ideas, gain valuable knowledge, and enter new markets. It is symbolic that the first wave is running under the slogan 'Boshlang!': the courage to take that first step is often the starting point of great achievements," said Sanzhar Suleymanov, Vice President and Regional Manager of Visa in Central Asia.

Kamilla Alen, Senior Marketing Manager at Visa for Central Asia, noted that supporting women's leadership and entrepreneurship is one of the company's strategic priorities. "We see how great the need is among women to develop their own businesses. On our part, we strive to provide them with access to knowledge, resources, and opportunities for collaboration," she said.

Ipak Yuli Bank views its participation in the project as part of its broader ESG strategy. "The development of women's entrepreneurship is one of the key drivers of sustainable economic growth. We are confident that She's Next will serve as a practical platform helping many women in Uzbekistan take the next step in building their businesses," said Saidabror Saydakhmedov, Chairman of the Board of Ipak Yuli Bank.

Nana Mardoyan, Director of Marketing and PR at Ipak Yuli Bank, drew particular attention to the psychological barriers women face on their path to entrepreneurship. Citing global research data, she noted that among people aged 25 to 34, only 56% of women are economically active, compared to over 90% of men.

The reason, she argued, often lies not in a lack of opportunity but in fear of failure and the so-called impostor syndrome — a persistent sense of being insufficiently qualified. Research also shows that women typically feel ready to launch a business only when they are 100% confident of success, whereas men often start with just 60% certainty.

Yet the survival rates of businesses founded by women and men are broadly comparable. "We want to be not just a financial partner, but a genuine source of support — to speak in human terms, without complex banking jargon, and to help women simply take that first step," Mardoyan emphasized.

The structure of She's Next's first wave unfolds across several sequential stages. Registration on the platform is already open and will remain so through May 24.

Female citizens of Uzbekistan aged 18 and over are eligible to participate — both those already running a business and those who are planning to launch one.

From May 25 through June 7, all registered participants will gain access to an educational module comprising four video lectures and a knowledge-check quiz for each. Speakers will include leading experts in business, finance, psychology, and technology entrepreneurship. The format is entirely online, allowing participants to complete the materials at their own convenience.

After successfully completing the educational phase, participants may submit a business plan for review by an expert jury between June 8 and June 28.

Projects will be evaluated in three categories: established business, early-stage business, and IT business. From June 29 through July 19, experts will select 30 finalists — ten in each category. The grand finale, She's Next Pitch Day, will take place on August 7 in Tashkent, where participants will present their projects before a jury that will determine seven winners.

The total grant pool for the initiative amounts to US$22,000. In the "Established Business" category, the first-place winner will receive US$6,000, second place US$4,000, and third place US$2,000. In the "Early-Stage Business" category, prizes are distributed as follows: US$4,000, US$2,000, and US$1,000 respectively.

The winner in the "IT Business" category will receive a grant of US$3,000.