“The development of an innovative startup ecosystem is a top priority of the Georgian government’s economic policy,” said Irakli Nadareishvili, Deputy Minister of Economy and Sustainable Development.

According to Nadareishvili, the government has taken active steps to support the growth of the startup ecosystem, primarily by improving access to financing. He highlighted the success of the GEL 150,000 co-financing grant program managed by the Innovation and Technology Agency, through which more than 250 startups have received funding in recent years.

The Deputy Minister emphasized that startups supported through these government initiatives have generated over GEL 700 million in economic output.

This year, 50 startups have been selected from among 150 applicants who submitted their business proposals through the portal www.grants.gov.ge. These contenders have undergone training in business management, budgeting, and market research. The winners of the grant competition will be announced on September 17. The selected startups will gain the opportunity to scale their businesses and enter international markets.

“This program, along with many other government-backed initiatives, has positioned Georgia as a regional hub for technology startups and innovation,” Nadareishvili noted. “By the end of this year, four new international, high-calibre accelerators will launch operations in Georgia, further connecting our ecosystem to global markets and expanding access to international investors.”