Tbilisi (GBC) - Avtandil Kasradze, the Chair of Georgia's Innovation and Technology Agency, on Monday introduced the Government’s promotion of implementation of a new tax regime for technology startups and growth of global scalability potential to startup accelerators visiting the state.

The GITA said the “leading” visiting startup accelerators included Startupbootcamp/Rainmaking, Plug and Play, UPTEC, Baltic Innovation Agency, USMAC, 2080 Ventures, Startup Wise Guys, 500 Global in Eurasia and German Accelerator, with the guests presenting their visions and plans for the implementation of the GITA 2.0 programme in Georgia.

“The body noted the role and involvement of international accelerators was “very important” and ensured “transformation of the country as a hub of innovations”.

The declared priorities of the Georgian Government are to support the startup ecosystem - therefore, we have been actively cooperating with both European and American accelerators for years, and based on the new initiatives of the Government, we will give the country even more new opportunities to position itself as a regional leader in the innovation ecosystem”, Kasradze said.

“It is very important when such large, globally successful accelerators are interested in entering Georgia - this once again indicates significant achievements of the Georgian startup ecosystem”, he added.

The GITA said it had provided a grant funding of ₾38 million ($13 mln) to over 200 innovative startups of “global potential”, with the startups making ₾0.5 billion ($182 mln) in “private financial benefits” while creating up to 3,000 new jobs.