Two grant programs within the framework of World Bank's Project "National Innovations Ecosystem" (GENIE) of the Ministry of Economy and Sustainable Development of Georgia gives a unique opportunity to the young, forming and growing local business companies. In particular, the announced grant programs include 100,000 GEL and 650,000 GEL matching grants.
Iakob Gogebashvili Telavi State University hosted the informational meeting on grants programs. Avtandil Kasradze, Chairman of Innovation and Technology Agency, and Irakli Kadagishvili, State Representative in Kakheti Region have met with the interested people. The audience has received a detailed information about the programs and an exhaustive answer to all existing questions.
The goal of the grant programs is to stimulate the development of innovations and innovative enterprises through the development and commercialization of innovative products and services of international potential in Georgia.
Matching grants under the GENIE project are intended for startups for up to two years/private, small enterprises. The total budget for grant competition is 2 million GEL.
Maximum amount of the requested grant shall not exceed 100,000 GEL. The minimum amount of startup co-financing is 10%.
650 000 GEL Innovative Grants can get at least one year old company registered in Georgia. In that case the amount of co-financing should be 50%.
For more information - www.grants.gov.ge