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2 mln grant programme finances innovative ideas in Georgia

Georgia Materials 20 November 2018 13:38
Georgia has announced a co-financing grant programme for start-ups within the World Bank’s National Innovation Ecosystem (GENIE) project
2 mln grant programme finances innovative ideas in Georgia

Georgia has announced a co-financing grant programme for start-ups within the World Bank’s National Innovation Ecosystem (GENIE) project, Agenda.ge reports.

The budget of the programme is 2 million GEL.

Georgian Economy Minister Giorgi Kobulia said that as Georgia’s economy is a small economy that could not be oriented for large-scale projects and for this reason it is important for the country to support small and middle-sized businesses.

Innovations and technology play an important role in this direction. We want to have as much technological and innovative businesses in Georgia as possible. These businesses could be export-oriented and bring foreign currencies to our country, which we need very much nowadays. Also these businesses could create new jobs.”, said Kobulia.

The maximum amount of the requested grant should not exceed 100,000 GEL, announces the Ministry of Economy.

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