Startup
Posted: 1 week ago

PAYZE Wins GITA ₾ 650,000 Grant Program

Startup PAYZE won the 650,000 GEL grant program of the Georgian Agency for Innovation and Technology. The grant agreement was signed at the Technopark.

PAYZE is a financial technology startup that aims to make it easier for any legal entity or individual to receive digital payments in exchange for the services it provides. Payze is the first startup from the region (Georgia, Azerbaijan, Armenia) to be selected by one of the most prestigious Ycombinator (YC) acceleration programs in the world. YC, in turn, has invested in the company. Together with YC, PAYZE's list of investors unites both large venture funds and angel investors whose names are associated with achieving Unicorn status for companies. Also, PAYZE's existing investors have a direct connection to the success of companies such as Square & Twitter, Dropbox and others.

Georgian Innovation and Technology Agency launched a GEL 650,000 grant program with financial support from the World Bank on May 22, 2019. The goal of the program is to stimulate innovation, the creation of innovative enterprises and their involvement in the country's economy. Through the program, Georgian micro, small and medium enterprises, which have the potential to develop their own innovation and present to the world, will position the innovative product in the global market. The program funds a product with global potential - technological or business process innovation, which will be clearly associated with Georgia.