MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

"Several years ago, we defined the development of the local innovative startup ecosystem as a priority and introduced various support tools for technological startups. As a result, the investment of about 40 million GEL by the Government enabled the supported startups to generate economic benefits of about half a billion GEL. As a result of the implemented reforms, Georgia is positioning itself in the region as a growing and attractive center of innovation and technology" – Deputy Minister of Economy and Sustainable Development Irakli Nadareishvili stated in his speech at the presentation of the company Data Center Solutions (DCS).

The Deputy Minister mentioned that three years ago, the Government of Georgia introduced the special status of an international company with significant tax and other benefits in order to promote sustainable development of the technological sector in the country. Irakli Nadareishvili gave the high evaluation of the project and noted that its success is evidenced by over 120 international IT and technological companies that have opened offices in Georgia, in line with the significantly increased export of the IT services, which reached 2,3 billion GEL last year.

Irakli Nadareishvili also announced the launching of a technology center in the former parliament building in Kutaisi, which will combine a technology park, a technology museum, various technology laboratories, an international IT school, an international accelerator and an AI data center. According to the Deputy Minister, this initiative, implemented by the Georgian Innovation and Technology Agency, will serve as a catalyst for promoting of research, development and commercialization of artificial intelligence in Georgia.

The Deputy Minister also highlighted other government initiatives aimed at further development of the technology startup ecosystem.

Avtandil Kasradze, the Head of the Innovation and Technologies Agency, and H.E. Hadas Ester Meitzad, the Israeli Ambassador to Georgia, also attended the presentation.

The presentation informed the audience about the partner companies, which are Virtuozzo, Olmait, and Allegronet. DCS, at the first stage, offers cloud services by a partner American company to potential customers. At the next stage, DCS plans the construction of the data centers. Public and private sector representatives also attended the event.