Startup
Posted: 3 weeks ago

GITA Announces ₾150,000 Co-Financing Grants Program for the Thirteenth Time

The Innovation and Technology Agency of Georgia has announced the 150,000 GEL co-financing grants program for the thirteenth time. Starting July 1, interested individuals can submit their innovative business ideas through the grants portal www.grants.gov.ge, where they will be evaluated by independent, impartial, and appropriately qualified evaluators hired by the agency.

According to the agency, 150 startups will be selected in the first stage to undergo training in business planning, budgeting, forecasting, and market research. In the next stage, these startups will submit their business plans through the grants portal, which will be evaluated by international experts. Based on the evaluation of business plans and interviews, 50 finalists will be selected.

Co-financing grants are intended for startups whose total turnover does not exceed 500,000 GEL in the last 12 months. The duration of the project should not exceed nine months. Projects should not be related to the production of alcohol, alcoholic beverages, tobacco, or dangerous substances. However, projects related to the wine industry will be considered eligible if they do not involve the production of alcohol or alcohol-containing products.

A total of 235 startups have been funded within the twelve rounds of the co-financing grants program.

For detailed information, visit the co-financing web portal at www.grants.gov.ge.