Posted: 1 year ago

GITA ₾ 150,000 Grant Program Revealed 20 Winning Startups

The winning 20 startups of the 150,000 GEL co-financing grant program of the Georgian Innovation and Technology Agency are known:

  • TS shopping Api - The project aims to connect product manufacturers and sellers with e-commerce stores through the API. With the help of the product, online stores will have access to a variety of content, while local manufacturers and sellers will be able to sell their products simultaneously in the largest online stores.
  • NEUROPILOT - Introducing a unique copyright management method for professional athletes using digital and virtual technologies.
  • Preshfood - Delicious, healthy food is thrown in bakeries, cafes, restaurants and grocery stores every day, just because it was not sold on time. The goal of the startup is to enable consumers to buy this food at a discounted price.
  • GlyperA - The goal of the project is to create an antimicrobial spray for the nose, which provides additional protection to humans from airborne bacterial and viral infections.
  • Pyme - An employment platform focused on web3, which is the future of the Internet. The team plans to launch and expand its employment platform, add training resources and create social profiles that will help people interested in Web3 direction connect with each other.
  • QuickShipper - Simplified methods of payment and delivery service
    Brandergate - an online brand development platform through which customers can analyze, create and develop a brand in the shortest time and price. The platform is based on the unique "Artificial Branding Intelligence ©", which analyzes, plans, and creates/develops the brand in all its components (Brand Values, Brand Personality, and Brand Identity) in hundreds of industries, based on the study of thousands of brands.
    OwnEstate - A Fintech startup that connects a real estate developer and a retail investor.
  • Digital warehouse - The project envisages the creation of digital technology for the provision of transportation services, in particular, the provision of digital warehousing, a small shipment of small and packaged goods by land internationally.
  • Bitnet - The team creates a connecting platform between the customer and the cryptocurrency. Bitnet's online platform makes it easy for users of any experience to access the benefits offered by decentralized financial systems. Here any customer can buy or sell digital currencies, take out a loan or safely store their digital assets.
  • Edumentors - The goal of the startup is to help parents find tutors who love their children.
  • Justpay - Justpay is an alternative payment solution that allows small and medium-sized businesses to receive secure payments, from any channel. Justpay payment method can be integrated into social media channels and posts, ads, and text messages
  • GoldenGate - The goal of the project is to create an online lawyer who will allow users to create, approve, sign and store legal documents.
  • Brokerapp - The goal of the startup is to create a multifunctional, digital insurance broker tailored to the customer's wishes, which offers customers a simple and transparent experience of obtaining insurance services.
  • BSFL Georgia - The project aims to establish a high-tech manufacturer and processing plant for the black soldier fly insect in Tbilisi, which produces high-demand products for global and local markets: animal protein, worm eggs, chitin molecule and organic fertilizer.
  • Skany Solutions - The goal of the project is to create a more tailored and flexible financial environment for the interests of the customer, increase access to installment services and improve service conditions.
    Kangaroo - B2B marketplace that connects restaurants, hotels and cafes with their suppliers. The aim of the project is to simplify and streamline the supply chain.
    Gagunashvili International Chess Academy - The project aims to create a unique online chess academy that will attract students from all over the world with the highest chess rank - Together with experienced coaches under the leadership of International Grandmaster, Merab Gagunashvili.
  • Inventory Management Automatization System - The aim of the project is to create an inventory management automation system using artificial intelligence technology, which will reduce companies' costs by 50% for employees involved in the procurement process, by 60% for goods shortages and by 30% for inventory storage costs. Rent, warehouse inventory and staff costs). The inventory management system makes companies' inventories fully automated without the intervention of human resources.
  • Datamind - The team plans to implement a security standard protocol and develop a data security policy in line with GDPR Compliance, in collaboration with the Big Four member audit firms. In addition, it is important to strengthen the team, which includes the growth of data developers and the financial team, which will become a prerequisite for creating products that are interesting and tailored to customers.

The decision was made by an investment committee staffed by high-level international venture investors: Marvin Liao, Jonathan Tower, Bill Reihart, Steve Hoffman, Naomi Kokubo.

Georgian Innovation and Technology Agency announced the eighth GEL 150,000 co-financing grant program on March 9, 2022. In 2022, the volume of the co-financing grant program increased from GEL 100,000 to GEL 150,000, and a total of 135 startups were funded within the seven rounds of the program. Out of the 230 applications submitted, foreign experts specially selected for the co-financing grants program identified finalists who had been trained by foreign trainers to present their ideas to the Investment Commission.

The goal of the program is to develop innovative products and services with international potential in Georgia, commercialize them, and stimulate the creation of innovative enterprises. Co-financing grants are one of the most widely used funding instruments used to support innovation in both developed and emerging economies.