Startup Georgia Announces High-Tech Enterprise Winners

TBILISI – The state-funded Startup Georgia project on Friday announced the winners of its high technology business competition.

Experts from the US’ Silicon Valley chose 20 winners from the 150 applications. Each successful applicant will receive 100,000 GEL (about USD 43,767) from the government to implement their innovative ideas.

“Your victory makes all of Georgia proud as our country relies on you,” Georgia’s Prime Minister Giorgi Kvirikashvili addressed finalists on Thursday.

The USD 5 million (11 million GEL) state project fund innovative and high-tech start-ups in a variety of fields including aerospace production, biotech research, bioinformatics, computer engineering, IT, nuclear physics, electromagnetic radiation, robotics, and telecommunications.

"This program, part of the government's four-point reform plan, is the most important. It encourages entrepreneurial spirit and enables our youth to launch their own businesses and change the mindset of a whole generation. It is not possible to foster an innovative idea or start a business only through the banking sector. Startup Georgia gives people a new option," Kvirikashvili said.

According to Kvirikashvili, the government will fully support Georgian entrepreneurs as they develop various technologies in the coming years.

Startup Georgia is a part of the State’s Partnership Fund. It is implemented with the support of the Ministry of Economy and Sustainable Development of Georgia and Georgia’s Innovation and Technology Agency.

Photo: PM's press office