Posted: 2 years ago

GITA to Spend GEL 30 Million on Developing Startups in 2020

GITA will spend GEL 30 million on developing startups in 2020.

According to Avtandil Kasradze, head of the Technology and Innovation Agency, in Business Morning, he expects to spend GEL 30 million in 2020 on developing the GITA startup ecosystem.

He said that in the last six years this sum totaled GEL 39.5 million, though it requires a new phase of funding.

"2019 was the most significant year in the history of the Technology and Innovation Agency. In 2019 alone, we contributed GEL 12.5 million to startups to the general innovation ecosystem, including the regions. GITA's contribution to ecosystem development over the past six years was GEL 39.5 million. As for 2020, we will spend GEL 30 million on startups, Scientists, the whole program, which is provided by GITA", - said Kasradze.