MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Irakli Nadareishvili: The entry of four top international accelerators into Georgia with state participation is the foundation that will take the Georgian startup ecosystem to a qualitatively new level

12-02-2026

Deputy Minister of Economy and Sustainable Development, Irakli Nadareishvili, held a meeting with startups and representatives of international accelerators implementing the Innovative Startup Acceleration Program grant competition by the Georgia’s Innovation and Technology Agency (GITA).

The Deputy Minister wished success to the participating startups and noted that developing a knowledge-based economy has been a significant priority for the Georgian government over the last decade.

“A series of programs and events serve this purpose, including the Innovation and Technology Agency, which was created specifically for this. Today, we observe the Georgian national startup ecosystem, which stands out in the region and attracts regional startups. Most importantly, global players in the form of accelerators, venture funds, mentors, and investors are represented in Georgia today and are observing the development of this sector with increasing interest” – the Deputy Minister said.

Four international accelerators are participating in the program: Plug and Play, Startupbootcamp, 500 Global, and Founder Institute. The goal of the program is to assist early-stage innovative startups in entering the global market, attracting investment, and further development.

The full one-year acceleration cycle includes three phases. Currently, the first two-month phase is underway for startups, implemented by Startupbootcamp and Plug and Play; 500 Global and Founder Institute will join them starting July of this year. Under the program, 160 startups will undergo acceleration per year. Successful startups will also receive a grant of 150000 GEL from GITA.

The Deputy Minister inspected the workspace at Radio City along with Avtandil Kasradze, Chairman of GITA, and program participants. According to Nadareishvili, the entry of four top international accelerators into the country with state participation marks the beginning of a new stage and the foundation for elevating the Georgian startup ecosystem.

Irakli Nadareishvili also focused on the economic impact that the general development of the startup ecosystem has brought to the country.

“On the part of the state, approximately 40 million GEL was invested in the grant program. However, a certain portion of the startups generated approximately 700 million GEL in investments, revenue and other economic benefits. This gave us the basis to begin negotiations with world-class accelerators in which Georgian startups are participating today. As a result, they will have the opportunity to undergo acceleration within Georgia, work on their business projects, and have direct access to Western markets, both in terms of attracting capital and in the areas of product development and customer access. We are confident that this will be another major step forward toward the development and success of the Georgian startup ecosystem on the global market” – Irakli Nadareishvili noted.

 

 

 

 

 

 

 

 

 

 

 

 

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