Levan Davitashvili At 150000 GEL Co-financing Grants Program Award Ceremony

“It is a priority for the country’s economy to focus on technology, innovation and our grant projects, various financing or co-financing tools to encourage such an ecosystem. There are a lot of gifted young people living in Georgia and we should give them the opportunity to turn their ideas and creativity into interesting and competitive business projects,” – the Vice Prime Minister Levan Davitashvili stated at the Innovation and Technology Agency’s 150000 GEL Co-financing Grants Award Ceremony. The Chairman of the Government of Adjara, Tornike Rizhvadze, also attended the event.

Levan Davitashvili congratulated the winner startups on their success and spoke about the importance of developing a startup ecosystem in the country, innovative-technological businesses and the state support in this process.

The 150000 GEL Co-financing Grant Program of the Innovation and Technology Agency of the Ministry of Economy and Sustainable Development was held for the eighth time. This year, the volume of the co-financing grant program was increased from 100000 to 150000 GEL, and a total of 135 startups were funded within the seven rounds of the program. The aim of the program is to develop innovative products and services of international potential in Georgia, commercialize them and stimulate the creation of innovative enterprises. This year, trainers specially invited for this program prepared the finalists - 20 of the 51 startups that made it to the finals were identified, covering various business sectors.

Levan Davitashvili noted that he is confident in the success of winning startups since they have innovative projects with international potential that can attract capital internationally, develop their ventures and make a significant contribution to the country’s economy.

Ministry of Economy and Sustainable Development of Georgia. 2021 ©