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Budget for Funding Start-ups Allocates 30-35 mln GEL

Budget for Funding Start-ups Allocates 30-35 mln GEL

Dimitri Kumsishvili, minister of Economy announced that 30-35 million GEL will be allocated to the budget for funding start-ups.

According to the minister, with the initiative of the Ministry of Educaion and Science of Georgia plans partnership with private and public professional institutions, where people become masters in several fields, that are strongly demanded in the business field. Thus, this fact will significantly support employmenet rate improvement and will push down the unemployement rate.

Partnership Fund and Ministry of Economy and Sustainable Development of Georgia did really a lot in terms of funding start-ups. It is planned to allocate 30-35 million GEL, in order to induce business pioneers throughout Georgia. As noted, the primary business will have a possibility to take loans from the commercial banks wthout any  collateral after the verification of sustainablity of the idea”. – said Kumsishvili.