"Produce in Georgia" Micro and Small Entrepreneurship Grant Program has 1,338 Winners

The grant program of the Ministry of Economy and Sustainable Development's "Produce in Georgia" micro and small entrepreneurship promotion program has 1,338 winners.

As an agency reports, accepting applications for the program started in March of this year. A total of 3,700 applicants went to the final stage, of which 1,338 won.

The program aims to develop micro and small businesses, establish a modern entrepreneurial culture and create new jobs.

The amount of the program grant this year was set at 30,000 GEL, and with EU funding, the grant amount was 40,000 GEL in the regions (Imereti, Racha-Lechkhumi, Kvemo Svaneti, Guria and Kakheti) within the framework of the pilot regions integrated development program started by the Georgian government.

The participation amount of the winning entrepreneurs in the program should be at least 20% of the grant amount, and in the highland settlements - at least 10%. In the case of an existing beneficiary, the co-participation of the beneficiary should be at least 50% of the grant amount, and in highland settlements, it should be at least 25%.

The winning beneficiary in the program is obliged to determine the purpose of the grant amount as follows - capital expenditures not less than 90%, working capital not more than 10%.

More than 300 economic activities will be financed within the framework of the program.

From 2015 to 2021, 6,901 projects were financed within the framework of the grant program for micro and small entrepreneurship, and the amount of investments amounted to more than 78 million GEL.