"Although only two startups are the winners, we believe that all the companies that reached the final are winners as well, because they have undergone an intensive acceleration process. On the one hand, the state and business supports them further to make develop the projects more", said Deputy Minister of Economy and Sustainable Development Irakli Nadareishvili.
Two Georgian startups - Payze and Agrolabs - have won the competition of an early-stage startup accelerator 500 Startups in Georgia and will travel to Silicon Valley this year to participate in a one-month acceleration programme of 500 Startups.The winners were selected from 10 startups that made it to the finals. 4 out of 10 startups were from Latvia, Ukraine and Estonia.
"The Georgian government pays great attention to the development of an innovative ecosystem in the country. A number of programs have been introduced at the Agency for Innovation and Technology. Acceleration is one of the most important components of a startup ecosystem. Last year, during a very difficult period, we introduced 500 Startups, one of the world's leading global business accelerators, to Georgia. 100 applications were submitted, the best startups were selected in cooperation with them, which underwent a very intensive acceleration with the help of 500 Startups mentors and experts," - said the Deputy Minister.
