BAKU, Azerbaijan, September 18. Tbilisi hosted the award ceremony for winners of the latest co-financing grant program of the Georgian Innovation and Technology Agency (GITA), attended by Prime Minister Irakli Kobakhidze and Minister of Economy and Sustainable Development Mariam Kvrivishvili, Trend reports.
This round awarded 150,000 Georgian lari (over $55,500) each to 20 startups selected by international experts. It marks the 14th edition of the program, which has supported 264 startups with a total of 43.5 million Georgian lari ($16.1 million), generating an estimated 700 million Georgian lari (close to $260 million) in private benefit.
Minister Kvrivishvili said fostering Georgia’s innovation ecosystem remains a government priority. “Our goal is to turn Georgia into a hub for high-tech, global, and innovative startups,” she stated.
Building on the grant scheme, Georgia has introduced an acceleration program in partnership with four leading U.S. and European accelerators - Plug and Play, 500 Global, Founder Institute, and Denmark’s Startupbootcamp. The program will support 160 startups annually, providing access to international networks and markets. Grant funding will also rise from 150,000 to 200,000 Georgian lari ($55,500-$74,000) for participants.
The minister also announced a new tax regime for innovative startups, effective September 24, under which they will enjoy a zero percent tax rate for three years. The incentive will also apply to small and medium enterprises and R&D-focused companies.
Applications for the new accelerator programs will open in early 2026.