In Georgia, the status of an innovative startup will be determined, and companies with this status will be exempt from all taxes for three years, said Prime Minister of Georgia Irakli Kobakhidze during his speech at an event held on the occasion of the tenth anniversary of the Agency for Innovation and Technology.

According to the Head of Government, the Georgian government will shortly initiate a corresponding bill.

“New initiatives are crucial to further strengthen the innovation ecosystem. Among them, I would like to highlight a decision that will play an important role in the development of this system. The status of an innovative startup will be determined in Georgia, and companies with such status will be exempt from all taxes for three years. The Government of Georgia will initiate a corresponding bill shortly.

In order to maximize the global competitiveness of the Georgian economy and maximize the use of its scientific potential, three main technological directions of the country have been identified.

First, it is impossible to create a worthy place in the global competition in the modern world without the development of artificial intellect. In response to the current reality, a scientific group will be formed to implement artificial intelligence in education, healthcare, agriculture, and other areas.

The other key area is phages. As you know, Georgia is a pioneer in these technologies and has almost a century of experience in phage research. Today, when the demand for phages is increasing globally, Georgia can offer the world effective technological products in this direction.

Finally, the agricultural sector employs the majority of Georgia’s population. Agro-tech is an important aspect of this sector. The agency aims to boost Georgian farmers’ productivity and competitiveness through the creation of new scientific and technological products.

In conclusion, I would like to once again congratulate you on the very impressive results of the Agency’s ten-year work. I would like to once again congratulate you on your anniversary. These achievements make a great contribution to the further progress of our country and the development of our economic system.

I would express special gratitude to the management and each employee of the agency. The contribution of each of them is, naturally, special. On my behalf and behalf of the Government of Georgia, I would like to promise you support in all your initiatives in the future,” the Prime Minister said.