Innovation Fund;

Statute of Innovation Fund

1) General Rules

1. Decree of the President of the Republic of Uzbekistan No. PP-3416 of November 30, 2017 "On the establishment of the Ministry of Innovative Development of the Republic of Uzbekistan" and General Resolutions No. PP-3698 of May 7, 2018 "On the mechanisms of innovation in industry and economy Resolution of the Ministry of Higher and Secondary Special Education of July 5, 2018 №594, University It is part of the organizational structure of the University on the basis of the decision of the Council No. 11 of June 18, 2018 and the order of the Rector No. 140-IB-2 of August 4, 2018.

2. This Regulation determines the procedure for formation, management and use of the Fund.

3. The other fund is not a legal entity and operates using the university’s stamp and registration numbers.

4. The Fund ensures compliance with the Constitution of the Republic of Uzbekistan, laws of the Republic of Uzbekistan, decrees, resolutions and orders of the President of the Republic of Uzbekistan, resolutions of the Cabinet of Ministers of the Republic of Uzbekistan and other legislation. Normative legal acts of the Ministry of Innovative Development and Higher and Secondary Special Education, orders of the Rector and decisions of the University Council and this Regulation shall apply.

2) Formation and spending of the fund

5. Expenses of the Fund:

Income from the sale of innovative products;

Manage at least 5 percent of the University's funds to pay salaries, stipends and other current expenses;

Sponsorship of legal entities and individuals, including foreign ones;

Other income not prohibited by law;

6. The Fund focuses on the following areas:

Encouraging research and innovation;

Purchase of scientific and laboratory equipment, materials and components;

Creation and modernization of research institutes, financial incentives for researchers;

Financing the activities of the University for the Commercialization of scientific and innovative developments;

Week of innovative ideas - the costs associated with participation in exhibitions "Innoweek.me";

Patenting of innovative scientific researches created by students, masters, doctoral students and professors, as well as publication of scientific articles in national and foreign journals;

Reimbursement of expenses for registration and support of intellectual property rights (patents) abroad, established within the framework of state scientific and technical programs;

Short-term scientific training costs for young scientists for the development of working methods of foreign scientific organizations (centers, universities, etc.), including for high-tech equipment purchased to equip scientific laboratories;

Access to world educational resources, electronic catalogs and a database of advanced scientific literature;

Focus on other innovation costs;

7. Actions by the Fund not specified in paragraph 6 of this Regulation, as well as the distribution of the Fund's resources made because of approved decisions of the Supervisory Board of the Fund;

3) Everything is in order. Establishment of the fund

8. The Fund is managed by the Supervisory Board headed by the Rector of the University;

The Rector approves the composition of the Supervisory Board of the Fund;

9. The Supervisory Board of the Society shall meet at least once as necessary. If necessary, an extraordinary meeting of the Supervisory Board of the Fund convened.

10. Meeting of the Supervisory Board of the Company shall be valid if attended by at least two-thirds of the members of the Supervisory Board;

The decision of the Supervisory Board of the Fund shall be made by a simple majority vote of the members, signed and signed by them Chairman of the Supervisory Board;

In the event of a tie, the vote of the Chairman of the Supervisory Board of the Fund shall be decisive;

11. Supervisory Board:

Annually approves the forecast parameters of the Fund's revenues and expenditures, as well as the report on the receipt and expenditure of the Fund's funds;

Determines the order of competitions for the creation and additional equipment of scientific laboratories in the approved priority areas, as well as provides the necessary materials and components;

Determines the procedure for selection of young scientists on a competitive basis for short-term scientific training for the development of working methods of foreign scientific organizations (centers, universities, etc.), including the equipment of scientific laboratories;

Approves the list of intellectual property rights (patents) created under the state scientific and technical programs based on proposals of the University Council for registration;

Approves the list of databases based on proposals of the Cabinet of Ministers to cover the costs required for access to leading foreign electronic scientific databases at the expense of the Fund;

Assists in attracting foreign investment, grants and sponsorship to the Fund;

Involves interested government agencies and organizations in solving the tasks set for the Fund;

Supervises the activities of the Fund to ensure the full formation of its revenues and its targeted use;

Exercises other powers related to the formation and use of the Fund;

4) Control over the use of the Fund's resources

12. Accounting for the receipt and use of the Fund, as well as the preparation of reports carried out by the Accounting Department of the University in the manner prescribed by law;

13. The Executive Director of the Innovation Fund is responsible for the targeted use of funds approved by the Board of the Fund, taking into account the funds at the disposal of the Fund;

Final rules

14. Implementation of the liquidation and reorganization of the Fund in accordance with the laws of the University Council and the order of the rector.