Startups give a profound boost to the development of the economy and supporting startups will continue to be a top priority for us in the future, said Prime Minister of Georgia during his speech at the awards ceremony for the winners of the Grants Program of the Innovation and Technology Agency.

Head of the Government emphasized the role of startups in increasing the country’s competitiveness in international economic markets and spoke about projects implemented to create a favorable environment for startups.

“We have simplified tax legislation, which allows you to obtain innovative startup status and be fully exempt from income tax for the first three years. This is an important step that will support the development of startups and related infrastructure. In the future, the Government of Georgia will continue to actively promote the further development of this direction. We are creating a technology hub in Kutaisi. This is also an important step toward supporting startups. We have brought world-class accelerators and investors into the country, and all of this is done with one goal - so that Georgian youth and professionals can implement their ideas here in Georgia. Your success serves as an example for young people and for representatives of all generations. Each of your stories encourages others to achieve success, realize their dreams and turn their ideas into startups. The development of startups, as well as support for innovations and technologies, will remain a special priority for the Government in the future, and we will have specific initiatives in this direction”, - said Irakli Kobakhidze.

At the awards ceremony, the assembled startup founders were congratulated on their achievements by Mariam Kvrivishvili, Minister of Economy; Avtandil Kasradze, Chairman of the Innovation and Technology Agency; Karsten Kolbeck, founder of Startupbootcamp and Rainmaking; Uranik Begus, Program Director of Plug and Play; Alex Daskalus, Director of the Founder Institute’s Eastern Europe office; and Kerry Luss, Program Director of 500 Global.

The Innovation and Technology Agency of Georgia announced 20 winners of the co-financing grants program, each worth 150 000 GEL. These winners were selected by foreign experts specially chosen for the co-financing grants program.