Increasing Institutional Capacity for Innovation
Start/end date: 2018 - 2022
Country covered: Georgia
Implementing partner: The World Bank
EU budget: €2.7 million
The Action aims at increasing the ability of Georgia's Innovation and Technology Agency (GITA) ability to effectively coordinate the government's approach to innovation policy formulation and implementation.
The project has the following goals:
- increasing GITA’s capacity to develop and implement (in-house) innovation and entrepreneurship policies and programmes with medium- and long-term strategies and results;
- testing (and demonstrating) the viability of technology transfer in Georgia;
- improving the deal flow of innovative start-ups ready for investment, and of funding availability for early-stage companies.
- Research teams (from universities and institutes),
- Capacity building for GITA, through analysis and technical assistance.
- Demonstrating viability of commercialisation of technologies in Georgia, through a Technology Transfer Pilot Programme, which will identify research projects with good potential for market entry and link research teams with enterprises interested in commercialising the projects.
- Crowding in private capital invested in early-stage, innovative companies, by fine-tuning schemes run by GITA for early stage financing and technical support to innovative new firms.
Expected results by the end of the project include:
- More entrepreneurs and SMEs accessing support more easily;
- A more coherent public approach to supporting innovative entrepreneurs and SMEs, thus reducing overlap and costs over the medium to long term;
- Increased number of inventions brought to market and thus increased innovative economic activity
- Increased access to finance for innovative firms