News & Media

Startup Georgia starts financing the winning projects

Posted on: 09 Nov 2016

The Partnership Fund starts financing the winner projects of its first competition. Out of 36 projects the Fund has approved of eight business projects and signed deals with the authors. David Saganelidze, CEO of the Partnership Fund gave the winners the official documents festively. In total, 586 700 lari was handed out to 36 projects. Among the winner projects are arrangement of vertical parking; production of decorative ceramic tiles and block; Innovative decorative block production; opening an online clinic; tripplanner; wingo; Georgian toys factory as well as a cargo hub. The Fund is working with other winner projects to sign a deal. Around 100 000 lari will be given to each winner company. The funds will be provided after the agreement has been signed between Startup Georgia and authors of the projects on all important details. In parallel, the Partnership Fund continues accepting new applications for financing projects in the innovation direction of Startup Georgia program. The application form, rules and detailed information for the program is available on the following web page:  +995 322900030, a hotline is also available for additional information. Those proposals which will be submitted until December 15 will be judged by the jury before the end of this year. Projects will be selected on a competitive basis. To those who applied in the first competition but failed, the program gives the chance to participate in the second competition without having to fill in the application form again. They can also apply for the consultancy to representatives of Startup Georgia and upgrade the previously submitted business plan. Start-up Georgia, the Government-initiated Program is implemented jointly by the Georgia’s Innovation and Technology Agency and the Partnership Fund. In the first competition 56 projects were announced winners. Startup Georgia is comprised of two components: 1. High-tech and 2. Innovation. A total of 20 projects were announced winners in the high-tech direction, while 36 were named in the innovation direction.