Enterprise Georgia launches grant program to help business owners develop ideas.

According to the agency, over 300 different economic activities can be funded in the program, designed to help develop small and micro enterprises, develop a “modern entrepreneurial culture,” and create jobs. Submissions are open until April 11.

Small and micro-sized entrepreneurs in Georgia have been asked to submit their ideas to receive a state grant following the Enterprise Georgia state campaign announced an open call for business ideas on Monday.

Every adult entrepreneur is eligible to present their plans in the first phase of the Integrated Regional Development Programme, established by the nation’s Government and co-financed by an aid scheme for budgets of the European Union, the announcement stated.

The only ones who aren’t eligible to receive the grant are recipients who received the award in 2020 and those who were awarded more than one time between 2015 and 2018, the agency announced.

The amount of the grant of 3000 GEL ($9,345/EUR8,446) can be used to expand existing projects and innovative business concepts. In the areas that include Imereti, Racha-Lechkhumi, Kvemo Svaneti, Guria, and Kakheti, the grant awarded by the program will go as high as the amount of 40,000 GEL ($12,461/EUR11,262).

The participation fee for the program winners has been set at 20% of the grant. The contribution from the winners is set to be at a minimum of 50% of the grant. For projects that deal with highland settlements, the first amount is 10 percent and the second figure is 25 percent.

According to the agency, more than 300 kinds of economic activities are eligible for financing in the program, which is designed to help develop small and micro-sized enterprises, develop a “modern entrepreneurial culture,” and create jobs. The deadline for submissions is April 11.

The Georgian Government approved a pilot version of the Integrated Regional Development Programme 2020-2024 in December of 2019. The program follows the European pattern of development for regional areas. Georgia is the first of those in the European Union’s Eastern Partnership (EaP) countries that have implemented the program.