Georgian Prime Minister Irakli Kobakhidze on Friday said the newly opened Kutaisi Technology Hub is expected to become a major regional centre for knowledge, innovation, and technological development.

Speaking at the opening ceremony, Kobakhidze expressed confidence that the Kutaisi Technology Hub would play a key role in fostering innovation and professional development for young people.

“I am pleased that today we are opening the Kutaisi Technology Hub, which I am confident will become a regionally significant centre for knowledge, innovation and technological development. I am pleased that a building that was a symbol of corruption under the previous government will acquire an entirely new function from today. Knowledge- and innovation-based economic development is one of the top priorities of the Government of Georgia”, Kobakhidze said.

He noted that the government has built a comprehensive support system for innovative startups, created a national network of technology parks, introduced special tax incentives, and attracted international companies.

“Over the past years, we have developed a support system for innovative startups, created a national network of technology parks, introduced special tax conditions for technology and innovation businesses, attracted international companies and provided thousands of young people with opportunities to acquire modern knowledge and develop professionally”, he noted.

“All of this has already brought significant economic benefits to the country - with government support, more than 300 innovative and high-tech startups have generated over GEL 800 million in economic benefits, more than 4,000 of our fellow citizens have been employed, and Georgia has become one of the most attractive hubs in the region”, the Prime Minister concluded.