Best scientific research 2022

RESEARCH - 2022 
48 
Nevertheless, an economist and venture capitalist, 
Willian H. Janeway
 
argues, “One 
of the biggest challenges towards innovation is recognizing the convergence of technologies, 
market trends, and regulatory shifts taking place, in connecting and developing those ideas 
into functioning innovations, and in delivering them to the market at the right time and at the 
righ
t scale”. [1]
Because, nobody is immune to the bombardment of evolving market preferences 
across all industries and only few entrepreneurs and businesses are willing to make the 
strategic expenditures necessary to address these risks. 
In addition, the model of Uzbekistan is also going to be outlined through the decrees 
of the President of Uzbekistan for the development of innovation economy via digitalization. 
Therefore, although the country is developing dramatically, there are some drawbacks that 
are not fixed yet and the latest decrees were specialized to improve the needed parts of 
economy in this country according to the decree of “ON THE APPROVAL OF THE 
INNOVATIVE DEVELOPMENT STRATEGY OF THE REPUBLIC OF UZBEKISTAN IN 
2022 
— 2026”. And as it was indicated above, this initiative was adopted in order to 
accelerate innovative development in the republic, wide application of innovations and 
technologies in all sectors of the economy, development of human capital, science and 
innovation. According to this the main directions of the strategy should be defined as follows: 
• 
supporting start-up initiatives and organizing large-scale production (capital 
creation) by forming a network of innovative infrastructure entities (innovative technological 
park, technology transfer center, innovative cluster, venture organization, innovation center, 
startup accelerator, incubator); 
• 
increase the share of innovative active organizations by improving the 
institutional mechanisms of state support for innovative activities; 
• 
ensuring rapid socio-economic growth of regions by increasing the innovative 
activity of small businesses; 
• 
stimulating the demand for innovation by providing a comprehensive system 
of creating new types of products and innovative technologies from the idea to the final 
consumer; 
• 
formation of a system of reorientation of created capital to "fundamentally 
renewing" innovations; 
• 
further development of human capital in the management of innovative 
activities by developing creativity, innovative entrepreneurship and rationalization skills at 
all stages of education. 
• 
It should be noted that the Strategy will be implemented step by step on the basis of 
the "Roadmap", which will be separately approved starting from 2024, based on the relevant 
main directions for the achieved results and target indicators. [8] 

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