Make Your Idea Real:
New program finances innovative ideas in Georgia

Georgia is launching a new program to increase the innovative activities of firms and individuals and their participation in the digital economy.

The Matching Grants Program, launched today by Georgia's Innovation and Technology Agency, will enable innovative ideas to take flight.

Georgia's Innovation and Technology Agency is implementing the program within the World Bank’s "Georgia - National Innovation Ecosystem (GENIE) Project”.

The project is comprised of four components of which the first is the development of innovative infrastructure, the second ensures the delivery of innovative services, the third component will provide financing for innovative ideas and the fourth component will aim to ensure the efficient and effective implementation of all project components.

The Matching Grants Program is part of the third component of the World Bank’s project and will provide innovative Startups with 100,000 GEL funding. The total fund of the Matching Grants Program is 2 million GEL, said Georgia's Innovation and Technology Agency.

Startup financing is a widespread tool for supporting and stimulating the conversion of innovative ideas into businesses.