Georgian startup ecosystem is being formed as a regional hub and the government, together with the private sector, will facilitate this process as much as possible

Georgian startup ecosystem is being formed as a regional hub and the government, together with the private sector, will facilitate this process as much as possible – Georgia’s Deputy Economy Minister

04/05/2022

18:42

Economic

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The Georgian innovative startup ecosystem, the development of which is one of the main priorities of the Government of Georgia, is being established as a regional hub and there are a number of programs, including the acceleration one, which was implemented last year along with Silicon Valley, one of the leading accelerator companies. It was a regional project with about 30 percent participation of startups from the regions, which once again emphasizes the importance and role of the Georgian startup ecosystem in our region," – the Deputy Minister of Economy and Sustainable Development of Georgia, Irakli Nadareishvili, said at the Meet THE Change conference, which was held at the Radisson Hotel in Tbilisi within the framework of THE Crossroads Startup Platform in order to support the development of the startup industry.

The Deputy Economy Ministers Mariam Kvrivishvili and Irakli Nadareishvili, the founder of THE Crossroads, Nikoloz Kobakhidze, the Head of the Organizing Committee, Linda Pereira, the Head of Georgia's Technology and Innovations Agency, Avtandil Kasradze, and international experts in support of THE Crossroads platform spoke on the topics relevant to the industry, the role of the state in the development of the startup industry, the need for private sector involvement and development of business tourism as a strategic economic accelerator.

According to Irakli Nadareishvili, the Ministry of Economy operates a number of programs on the basis of the Technology and Innovations Agency, which actively promotes the establishment of the Georgian startup ecosystem. He said that the portfolio of the grant program alone includes about two hundred financed startup projects, while the total amount of foreign investments attracted by them currently exceeds 300 million GEL..

The Crossroads project was launched to support the startup ecosystem in Georgia and its goal is to create an appropriate environment for both startups and investors. The global platform brings successful startups, speakers, investors, technology companies and experts in the world together to promote the development of innovation and technology and attract investment to Georgia.

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