The presentation of the IICI project, which was implemented by the World Bank and the European Union, was held at Techpark Innovation Institute. The project is financed by the EU with 2.7 million Euros and is implemented by the World Bank and Georgia’s Innovations and Technologies Agency. The event was opened by Deputy Minister of Economy and Sustainable Development of Georgia Nika Alavidze and World Bank South Caucasus Regional Director Mercy Tembon.
The goal of the project is to increase GITA's capabilities and implement innovation and entrepreneurship policies and programs with medium and long term strategies and results; Test and demonstrate the possibility of technological innovations between educational institutions and private sector in Georgia; Improve innovative startup investments and financing companies on early stages. Increased support and financing of small and medium enterprises and innovative companies is expected as a result of the innovative institutional capacity increase (IICI) project, a more consistent approach to supporting entrepreneurs and SMEs and also increasing the overall innovative economic activity.