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Georgia to Finance Each Finalist of Startup Georgia by 100 000 GEL

Your victory has brought victory to whole Georgia, because our country relies on you, Georgian Prime Minister Giorgi Kvirikashvili addressed the Startup Georgia winners.

Startup Georgia, innovative business development support state program has selected 51 projects. Georgian Prime Minister Giorgi Kvirikashvili has attended the high-technology component closure ceremony and congratulated the winners upon victory.

For the first time in the history of independent Georgia, the country has named finalists of Startup Georgia state program. This program will encourage entrepreneurial spirit in the country and enable young people to launch their business activities, Prime Minister Giorgi Kvirikashvili said.

“This initiative enables young people with innovative ideas to obtain financial component through an entirely new methodology, without any provision, based on only idea criteria. I am happy today seeing these happy eyes of so many young people. I would like to congratulate all of you on being here, on being winners. This program is a part of the government’s 4-clause reformation plan. This program incentivizes entrepreneurial spirit, enables young people to launch their own business activities and change the set of mind of the whole generation, through not only the bank sector, but also Startup Georgia state program”, the Prime Minister said.

The government will provide serious support to finalists, Giorgi Kvirikashvili said and thanked everybody, who have taken part in developing and implementing the program.

“Today we have 51 finalists of which 20 ones will be finally chosen, but all of them are winners, because all of them will receive very important support from the government. I would like to express deep gratitude to the Innovations and Technology Agency for successful implementation of the Partnership Fund’s program, as well as to international experts, who have made this program available. International experts have compared the dynamics of startups to European countries and according to their conclusion, the dynamics of startups is very high in Georgia. We are very happy because of this conclusion. Mother and her son, grandfather and grandson are among finalists, there are a wide range of innovative ideas among finalists”, the Prime Minister noted.

More than 720 applications were submitted to the Startup Georgia state program and 51 best applications were chosen by Silicon Valley international experts. Today 20 finalists were named and each of them will be financed by 100 000 GEL.

Slovak Ambassador Rudolph Mihalg handed over  certificates for week-long probation period in Slovakia to five winners. Finalists were also transmitted Startup Georgia symbol made at TechnoPark.

High-technology startups comprise such fields as aerospace production, vehicles, artificial intellect, biotechnologies, bio-informatics, computer engineering, computer science, information technologies, nanotechnologies, nuclear physics, electromagnetic radiation, robotics  and telecommunication.

At the first stage, the government allocated 11 million GEL. For the next stages, the financial component will increase to 35 million GEL.