Grants Co-financing Program Winner Startups Award Ceremony
04-09-2019

Deputy Ministers of Economy and Sustainable Development Nikoloz Alavidze and Ekaterine Mikabadze participated in the official awarding ceremony of the co-financing grant program winner startups. The Innovation and Technology Agency announced the co-financing grant program for the third time on May 31, 2019 within the framework of the World Bank’s National Innovation Ecosystem (GENIE) project.

The Chairman of the Parliament, Archil Talakvadze officially opened the award ceremony. US Ambassador to Georgia, Elizabeth Rood and Deputy Minister of Economy and Sustainable Development, Nikoloz Alavidze also addressed the audience.

There were 20 winner-companies announced within the framework of the program, each receiving a grant of 100,000 GEL. An investment committee staffed with high-level international venture investors selected the winners.

Nikoloz Alavidze noted that grants co-financing program is one of the most commonly used funding tool to support innovation in developing as well as developed economies. According to him, the Ministry of Economy and Sustainable Development, together with the Agency for Innovation and Technology, is actively working to develop, intensify and commercialize innovative products and services of international potential, as well as support and stimulate the innovative startups.

“Georgia is a country of small economy and such large-scale programs are vital for the country’s economy and digital, technological progress, in terms of introducing modern trends in this direction,” – the Deputy Minister of Economy and Sustainable Development said. He also highlighted that the grants co-financing program is the best and already very popular tool for young people who seek for work experience in the field for  the further professional growth as well as for getting information on international trends and establishing new contacts.

The purpose of the grants co-financing program is to stimulate innovations in Georgia through development, exploitation and commercialization of the innovative products and services of the international potential. 


Ministry of Economy and Sustainable Development of Georgia. 2017 ©