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US investors aim to finance Georgian startups

Business Materials 16 April 2021 17:34 (UTC +04:00)
US investors aim to finance Georgian startups

BAKU, Azerbaijan, April 16

Tamilla Mammadova – Trend:

US investors have set up a $500,000 fund to finance Georgian startups, Trend reports via Georgian media.

As reported, these steps are being taken as part of a memorandum of understanding signed between the Georgian Innovation and Technology Agency (GITA) and TECH Friends of Georgia.

The online event was opened by the Minister of Economy and Sustainable Development Natia Turnava, with a welcoming speech by US Senator, Norm Coleman. The memorandum was signed by Avtandil Kasradze, Chairman of the Agency, and Isaac Applbaum, Ori Sasson, Marc Abramowitz, and Ted Tussing, Managing Partners of TECH Friends of Georgia. Georgian Consul in San Francisco Levan Beridze also attended the event.

The memorandum aims to strengthen cooperation between Georgian and Californian startups and to organize various activities in the field of innovation and technology to help Georgian startups gain access to necessary resources and finances, as well as international experience.

As part of the memorandum, GITA will identify startups with global potential in Georgia, in which TECH Friends of Georgia will invest $500,000.

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