INNOVATIVE ENTREPRENEURSHIP, DEVELOPMENT OF SMALL AND MEDIUM-SIZED BUSINESSES. THE PIVOTAL ROLE OF ENTREPRENEURIAL SANDBOXES IN ACCELERATING AND STRENGTHENING STARTUPS IN UZBEKISTAN

Abstract

This research investigates how entrepreneurial and regulatory sandboxes can be applied in the ever-developing economy of Uzbekistan, serving as institutional catalysts. According to Uzbekistan’s 2030 Strategy, businesses are shifting towards digital-centric environments. In this context, sandboxes can mitigate asymmetric communication between regulatory bodies and entrepreneurs, utilizing Transaction Cost Economics and Institutional Theory. It is shown that experimental regulation can draw the  attention of FDI, boosting high-tech evolution, offering institutionalized liberalization models.