Georgian PM highlights “knowledge-based, innovative economy” for domestic progress

Georgian Prime Minister Irakli Kobakhidze on Tuesday emphasised the importance of developing a “knowledge-based and innovative economy” to drive the country’s progress.

Speaking at the 10th anniversary of Georgia's Innovation and Technology Agency, Kobakhidze congratulated the body with “very impressive results” that he said had made a “great contribution to the further progress of Georgia” and the development of its economic system.

The development of a knowledge-based, innovative economy is of particular importance for the progress of our country. The activities carried out by the GITA for the formation of an innovative ecosystem in Georgia are very important”, he said.

The PM said more than 200 innovative startups with “global potential” had been financed with about ₾38 million ($14.34mln) within grant programmes of the Agency.

As a result, the beneficiaries generated half a billion lari of private financial benefits and, most importantly, created 3,000 new jobs”, he added.

The Government head also noted 500 Global, a startup accelerator programme, launched Georgia's first international accelerator programme in 2022 with the support of the GITA and with a capital of $20 million.

Kobakhidze added nine “technology parks” had been established across Georgia to offer support to individuals with innovative ideas through the "one window" principle, and noted the 10th would be opened in the western city of Kutaisi this year.