“Our policy aims to establish start-ups and innovative ecosystems,” said Natia Turnava, Minister of Economic and Sustainable Development of Georgia, commenting on allocating a $500 million fund by American investors to Georgian start-ups.
During the coronavirus pandemic, many grants were issued to talented young start-ups, Turnava said.
“They have attracted attention not only in the local market but also abroad, including in the United States, in Silicon Valley. A logical continuation of this was the signing of a memorandum between our Agency for Innovation and Technology and 4 American investors,” Natia Turnava declared.
As part of the Mutual Cooperation Deal, the Georgian Innovation and Technology Agency will identify start-ups with global potential, in which TECH Friends of Georgia will invest USD 500,000.