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Winners of Second Stage of Startup Georgia Revealed

Nine completely innovative ideas and fully-funded ventures have been added to the most viable sector of Georgian economy – the high-tech and innovations-based industry. The authors of the winning projects of the second stage of “Startup Georgia” were awarded.

Prime Minister of Georgia Giorgi Kvirikashvili attended the ceremony. The Prime Minister considers “Startup Georgia” to be a completely new step in the direction of creating a novel Georgia and a fresh Georgian economy.

“This leads to the transformation of the economy and shifting people’s mindset towards the entrepreneurship. This will ensure that individuals become employers rather than mere employees. This is the main implication of this groundbreaking project,” – the Prime Minister commented and indicated that establishment of the “Startup Georgia” Fund is the main achievement of the Government.

The Prime Minister also congratulated 9 winning entrepreneurs, who were bold enough to venture completely new ideas for the purpose of acquiring the funding. The Prime Minister urged young people never to think of others who have already implemented similar ideas or of that realization of their innovations is not worth it.

“It is always worth it! Even if only one step out of 10 or 100 ones that you take turns our to be correct, it is still worth it – since said step might completely alter our economy. That is why I consider this project to be completely outstanding and I would like to particularly congratulate you,” – the Prime Minister noted in his address to the winners.

Giorgi Kvirikashvili also thanked all stakeholders who contributed to the implementation of the initiative, including the Ministry of Economy and Georgia’s Innovation and Technology Agency as well as Partnership Fund and young generation, who vigorously engaged in the process of realization of this important idea.

“This is a completely new step in the direction of creating novel Georgia and fresh Georgian economy,” – the Prime Minister stated.

According to the head of the Government, funding of a qualitatively novel ventures is a new opportunity for younger generation to obtain funding without having to apply for the collateral loans.

“The contest took place in a completely transparent environment. Foreign experts from California and Europe with a specific field-related backgrounds also participated in the selection process. This is a qualitative change of our economy that is rooted in encouragement of the most rapidly developing sectors. The most important outcome of the said endeavour is shifting younger generation’s mindset towards becoming employers rather than mere employees fro the very beginning,” – the Prime Minister noted in his conversation with the reporters.

The total amount of awards issued to the nine winning projects is around 900 000 GEL. Winning projects mainly concentrate on tourism, agriculture, chemical industry, production of construction materials and other areas.