Program ''Startup Georgia

The program "Start Georgia" was created by the initiative of Prime Minister of Georgia within the framework of economic reform, which, on the one hand, is one component of the government 4-point plan. The program was developed together by Georgian Innovations and Technologies Agency and the Partnership Fund, which was approved by the government 2016
Decree No.206 of the May 11th of the year. The purpose of the program is to promote business based innovative ideas and to establish on the international market.

 

The program consists of two components : innovative component and high-tech component. The Agency carries out a high-tech component and finances projects of the following directions : aerospace production, automobiles,  artificial intellect, biotechnology, bioinformatics, computer engineering, computer science, information technology, nanotechnologies, nuclear physics,
electromagnetic radiation, robotics, semiconductors.

  

Program features

  

  • The project is evaluated by leading international experts from Silicon Valley;
  • Investment Funding upto 100,000 GEL;
  • Applicant's financial involvement not required;
  • The applicant’s share participation is 95%;
  • Submitting successful projects to international investors in Silicon Valley;
  • The agency remains a partner of a 5% share in the joint venture for a period not exceeding 7 years and does not interfere with the start of management;
  • Ensure mentoring and coaching.

 

Within the framework of the high-tech component of  program “Startup Georgia” from 149 received application, 20 startup  was selected and financed with the amount of 100 000 GEL. 

A total of 726 applications were received on the program of "Startup Georgia", out of which 149 was high-tech component.