MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Deputy Minister of Economy and Sustainable Development, Irakli Nadareishvili, participated in GITEX EUROPE, one of Europe’s leading global technology events, held in Berlin, Germany. GITEX EUROPE brings together top technology companies, startups, investors, and government organizations from around the world. This provided a unique opportunity for Georgia to establish new partnerships, attract investments, and present itself internationally as a startup-friendly environment.

The Deputy Minister took part in a panel discussion, where he highlighted the priorities of Georgia’s economic policy. These include the development of innovation and technology, particularly in artificial intelligence, biotechnologies, and aggrotech, as well as support for startups and the advancement of digital transformation, including government services.

The discussion also featured the Minister of State for Entrepreneurship of the United Arab Emirates, the Minister of Entrepreneurship and Business Climate of Albania, and the Deputy Minister of Industry and Trade of the Czech Republic.

“The development of a knowledge-based economy is one of the main priorities of our government’s economic policy. Therefore, we maximally promote the development of an innovative startup ecosystem. A part of this policy is the global positioning of the Georgian startup ecosystem’s attractiveness and competitiveness” – Irakli Nadareishvili stated. The Deputy Minister emphasized the government’s efforts to widely implement artificial intelligence capabilities for the transformation of Georgia’s economy, which will enable it to become more competitive in global markets.

“Approximately 10 years ago, we essentially started developing an innovative ecosystem from scratch and have achieved significant results. Today, we have many competitive startups operating in the global market, the first successful international deals have been finalized, and the total investments attracted and revenues generated by startups have exceeded the state’s investment in them by 13 times” – the Deputy Minister noted.

Irakli Nadareishvili highlighted the work undertaken by the Georgian government to develop the startup ecosystem. He stated that the government not only implements state grant programs but also facilitates startups’ access to private financing and their entry into international markets. “We have brought an international accelerator of global scale into the Georgian market, which has elevated the local startup ecosystem to regional and international levels. We have also created the first venture fund, incubators, technoparks, and other essential infrastructure for the development of an innovative ecosystem” the Deputy Minister stated. He also spoke about the large-scale technological hub project in Kutaisi and its role in developing artificial intelligence in the country.

The GITEX EUROPE technology event was also attended by Avtandil Kasradze, Head of the Innovations and Technologies Agency, who participated in a panel discussion alongside leaders of rapidly growing ecosystems in the region. This discussion will focus on the prospects, ongoing progress, and collective potential of countries in the Caucasus and Central Asia.

As part of the visit, Deputy Minister of Economy and Sustainable Development Irakli Nadareishvili and Chairman of the Innovations and Technologies Agency Avtandil Kasradze held a meeting with Trixie LohMirmand, Executive Vice President of GITEX. The meeting focused on future cooperation and the implementation of joint events aimed at showcasing the Georgian startup ecosystem on an even larger and more compelling scale.

Georgian delegation also held a meeting with Adnan Seric, Head of Lab UNIDO, the United Nations Industrial Development Organization’s Innovation Lab. They discussed the potential development, implementation, and future cooperation of their program in Georgia.

During the visit, Irakli Nadareishvili and Avtandil Kasradze also met with Vladimir Radovanovic, the Deputy Minister of Science, Technological Development, and Innovation of Serbia. The meeting focused on future cooperation prospects, including the exchange of experiences in innovation between the two countries.

Regarding the meeting with Vusal Khalilov, Deputy Head of the Central Bank of Azerbaijan, the parties discussed regulations in the banking and fintech sectors and the exchange of information in this regard.