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The Government to Finance Preparation of Projects, Which Should be Submitted to Silicon Valley

The Government to Finance Preparation of Projects, Which Should be Submitted to Silicon Valley

“We are moving on the second stage, which envisages funding of each team by 25 thousand GEL by the state in order to create demo versions, refine financial models, form marketing and branding, establish the target audience and ultimately to get reach to the global investors”, – Dimitri Kumsishvili, Vice Premier has declared about it at the meeting held with the winners of program “Start-up Georgia” in TechnoPark.

Dimitri Kumsishvili noted, that complex support of ideas are necessary in order to go at the global market. Complex support envisages, (mentorship  program for teams) sharing knowledge by foreign experts of “Silicon Valley” to the start-ups in online regime and improvement of their projects.

After the finish of mentorship, all start-ups , which should be ready to take the following funding, will be sent to “Silicon Volley” with the state’s assistance, where two weeks of intensive trainings should be given and they will be presented to the wide circle of investors. To remind, each winner selected within the frame of “Start-up Georgia” has been funded by 100 000 GEL. Beneficiaries are not demanded co-funding of the project , while their share in the company is 95%.