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Georgian Government announced tax exemption for startups at Georgian Innovation and Technology Agency’s 10th-anniversary celebration

On March 19th, Lika Merabishvili, the Regional Director for the Caucasus at StrategEast, attended the 10th anniversary of the Georgian Innovation and Technology Agency (GITA) marking a milestone in an event attended by key stakeholders.

Speaking at the event, Georgia’s Prime Minister Kobakhidze declared that the Government of Georgia would grant a three-year income tax exemption to Georgian startups, a move aimed at fostering an environment conducive to innovation and entrepreneurship within the nation. Mr. Kasradze emphasized GITA’s pivotal role in advancing Georgia’s technological landscape. He highlighted the agency’s commitment to supporting advancements in artificial intelligence, scientific research, agricultural innovations, and the IT sector, thereby positioning Georgia as a hub for innovation and technological excellence.

The event notable speakers included also Mr. Levan Davitashvili, the Deputy Minister of Economy and Sustainable Development, delivering opening remarks, and Mr. Avtandil Kasradze, Chairman of GITA, reflecting on the agency’s accomplishments over the past decade and outlining its plans.

The celebration gathered an audience of ambassadors, high-ranking diplomats, representatives from international financial institutions, businesses, non-governmental organizations, and media.