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2 Million Grant for Startupers – World Bank Project in Georgia

First Deputy Prime Minister, Minister of Economy and Sustainable Development Dimitri Kumsishvili and World Bank Regional Director in the South Caucasus Mercy Tambon participated in the official presentation of the Co-financing grants Program.

This program is implemented within the framework of the World Bank’s Project “National Innovations Ecosystem” (GENIE). Its aim is to stimulate the creation of innovations and innovative enterprises through the development and commercialization of  products and services of international potential in Georgia.

more than 200 potential and active startupers attended the presentation at Technopark.

The first Vice-Premier thanked Mercy Tambon and the World Bank’s entire team for contributing to the country’s economic development and state support for financial and technical assistance. “I would like to express my gratitude for the implementation of development of innovation ecosystem project, that covers financial support and stimulation of startupers “Dimitri Kumsishvili said.

Technology-based projects will be financed under the co-financing grants program. The Innovations and Technologies Agency of the Ministry of Economy sponsored 20 high tech startups in the program “Startup Georgia” and distributed 5000 GEL grants to 188 beneficiaries, as for 2014, 17 beneficiaries received grants up to 50 000 GEL.