The winners of the Start-Up Georgia competition were revealed today and the top 20 projects were awarded 100 thousand GEL ($43,800) by the Prime Minister, Giorgi Kvirikashvili.
Experts from California evaluated 51 tech start-ups, including those involved in avia-cosmic production, cars, artificial intelligence, bio-technologies, bio-informatics, computer engineering, IT, Nanotechnologies, nuclear physics, electromagnetic radiation, robotics, semiconducting and telecommunication.
The competition was a joint project of the Ministry of Economy and the Partnership Fund.
The Prime Minister stated that supporting innovative young projects is one of the most important aspects of his four-part plan for reforms.
The Partnership Fund has given 11 Million GEL ($4.8 million) for the implementation of the first stage of this programme, in which innovative and high-technology start-ups will be financed, with potential to add a further 35 million GEL ($15,3 million) at a later date to finance more start-ups.