Micro and small entrepreneurs in Georgia have been invited to submit their projects for a state grant, after the Enterprise Georgia State Campaign announced a call for business ideas on Monday.
All adult entrepreneurs are eligible to submit their projects to the Integrated Regional Development Pilot Programme, launched by the country’s government and co-funded through the European Union’s budget support programme, according to the announcement.
The only parties ineligible for the grant are recipients who won the grant in 2020 and those who have already been funded more than once between 2015 and 2018, the agency said.
The grant volume in the amount of 30,000 GEL ($9,345/€8,446) will be available both for developing already existing projects and for new business ideas. In Imereti, Racha-Lechkhumi, Kvemo Svaneti, Guria and Kakheti regions, the program grant will reach up to 40,000 GEL ($12,461/€11,262).
The program winners’ participation fee has been set at at least 20% of the grant, with the contribution of the winning beneficiaries to be at least 50% of the grant. For projects involving upland settlements, the first figure is 10% and the second is 25%.
More than 300 types of economic activities can be financed under the program which aims to develop micro and small enterprises, establish a “modern entrepreneurial culture” and create new jobs, the agency said. Submissions will be open until April 11.
The Integrated Regional Development Pilot Program 2020-2022 was approved by the Georgian government in December 2019. The program follows a European regional development model. Georgia is the first country among the Eastern Partnership (EaP) countries of the EU where it has been implemented.