MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

"Development of the knowledge-based economy is one of the priorities of our government's economic policy. Therefore, we support the development of the innovative startup ecosystem as much as possible. Part of this policy is the global positioning of the attractiveness and competitiveness of the Georgian startup ecosystem. Consequently, for the second time, Georgia is participating in the world's largest technological summit in Lisbon, where we will present the opportunities and advantages that Georgia offers to innovative startups. Participation in the Web Summit also gives Georgian startups an opportunity to introduce their innovative products and attract international investments and partners," – Deputy Minister of Economy and Sustainable Development Irakli Nadareishvili, heading the Georgian delegation at the Web Summit in Lisbon, stated at the event.

Participation of the country in the mentioned event is provided by the Agency of Innovations and Technologies of Georgia and the Enterprise Georgia Agency.

The Deputy Minister informs that the Georgian pavilion is very popular since the visitors have the opportunity to learn about the initiatives implemented and planned by the government in recent years in terms of the development of the innovative startup ecosystem. There is a special interest in the regional technological hub project in Kutaisi, which should become one of the significant attraction centers of the region.

"We have created a rapidly developing dynamic ecosystem in just a few years, virtually from a scratch. Important programs are implemented so that startups in Georgia have more development opportunities. Among them, we implement state grant programs, promote access to private finance, we introduced an international-scale accelerator to the Georgian market, which put the local startup ecosystem up to the regional and international scale. We have also created incubators, technoparks and other infrastructure necessary for the development of an innovative ecosystem. Important legislative, software and infrastructural projects are also planned in the short and mid-term perspective" – Irakli Nadareishvili noted.

Web Summit 2024 in Lisbon is hosting over 70 000 participants from 160 countries, including hundreds of startups, technology companies and government organizations from around the world.