Business
Posted: 1 month ago

France Received First Transfer of Georgian Technology

For the first time, Georgian technology was transferred to France.

A "Joint Research and Licensing Agreement" was signed between the Georgian Agency for Innovation and Technology and the Technological Research Institute for Materials, Metallurgy and Processes (IRT M2P) in Metz.

IRT M2P is a French research institute working on innovative and technological solutions in the fields of air, sea, rail, energy, defense, materials manufacturing and more. The institute is jointly funded by the French government and French industrial companies.

Negotiations with IRT M2P were carried out within the framework of the Agency's "Technology Transfer Pilot Program" for a research project of the Ferdinand Tavadze Institute of Metallurgy and Materials Science, which participates in the same program.

The goal of the Technology Transfer Pilot Program is to assist research projects with commercialization potential in the technology transfer process.

GITA started its implementation in 2019, the program is funded by the European Union and with the technical support of the World Bank. Within the framework of the program, 9 scientific projects were selected for commercialization and one of them was the above-mentioned technology of the Ferdinand Tavadze Institute of Metallurgy and Materials Science. Within the framework of the program, the Agency was given the exclusive right to negotiate with interested potential industrial partners, to assist Georgian scientific projects in the development of technological, intellectual property protection and business readiness.

As Avtandil Kasradze, the Chairman of the Agency, explained, the "Joint Research and Licensing Agreement" signed in France is an important achievement for the Georgian scientific sector and is the first precedent for licensing Georgian technology.

"IRT M2P will actively work with LEPL Ferdinand Tavadze Institute of Metallurgy and Materials Science with funding from the French government and French industrial companies to develop and raise the technological readiness of Georgian technology, which will be financed entirely by the French side. Funded by the French government, IRT M2P also provides the introduction and licensing of the above Georgian technology to French industrial companies.

It is noteworthy that after the joint development of Georgian technology, French and Georgian research institutes will be joint owners of technology and related intellectual property.

It should also be noted that the royalties (fees) received as a result of technology licensing to French industrial companies will be distributed equally (50/50%) between the parties to the contract and 90% of the 50% received will be transferred directly to LEPL Ferdinand Tavadze Institute of Metallurgy and Materials Science." Kasradze.

During his visit to France, on June 23, 2022, the Chairman of the Agency Avtandil Kasradze met with the French company Verkor, which works in the field of production of batteries for electric vehicles and promotes the development of low carbon batteries in the European market. Verkor is interested in studying Georgian manganese and other minerals that may be used in the production of batteries. The parties held an interesting dialogue on Georgia's potential in this direction and Verkor plans to visit Georgia to discuss the issue in more depth.