Focus on Innovation: GITA's new initiatives aim to boost tech and traditional sectors

GITA was established in 2014 to accelerate progress towards the ‘fourth industrial revolution’. Since then, the agency has created multiple science and technology parks, business incubators, accelerators and innovation labs, as well as providing funding opportunities, co-working spaces and training and conference facilities to support tech startups.

GITA Chair Avtandil Kasradze has been with the agency since its inception. “At that time, very few people in the government or the public believed that Georgia could be ambitious and create an innovation agenda,” he says. Today, as the agency celebrates its tenth anniversary, bold new plans have been announced to integrate innovation into every sector of Georgia’s economic development.

“GITA will be creating more programmes, not only supporting innovative startups but also traditional companies if they want to spend on R&D.” The 500 Global accelerator programme for EECCA startups, delivered in collaboration with the Bank of Georgia, has also just rolled out its latest application phase. “500 Global’s presence in Georgia shows there are worthwhile investment opportunities here,” Kasradze adds.

Tech-focused companies like Keepz (fintech), Lemondo (apps), Calen (AI) and Bolt/Electrify (EV charging) are already shifting the innovation dial in Georgia. “Our region is small, and we do not see each other as competition,” Kasradze says. “Rather, we want to uplift one another to become globally competitive.” Nevertheless, GITA is looking to attract more international investment to unlock the country’s full potential—and Kasradze sees synergies with UAE as a forward-looking, innovation-driven economy. “The UAE is one of Georgia’s strategic partners,” he says. “There is a huge opportunity in the innovative ecosystem to merge and share expertise between the two countries.”