Georgia has faced challenges in innovation and competitiveness despite economic reforms. Small and medium enterprises (SMEs) make up most businesses but contribute less than a fifth of the country's GDP, limited by low productivity, restricted access to financing, and low survival rates. Rural areas also lag behind in broadband connectivity and digital skills, while women encounter more obstacles to participating in the economy.
To address these issues, the World Bank launched initiatives aimed at boosting innovation and digital participation. The GENIE Project was central to this effort, establishing regional innovation centers, expanding rural broadband coverage, and piloting grant programs for start-ups and SMEs. Training programs focused on digital skills reached over 3,100 participants—half of whom were women—and nearly half were youth from both Tbilisi and other regions.
The World Bank worked closely with the European Union through the Georgia Institutional Capacity for Innovation program to strengthen institutional support for innovation policy. These efforts brought together public investment, private capital, and capacity building to foster an environment where entrepreneurs could thrive.
Between 2016 and 2023, these projects produced several outcomes:
- 52,000 people directly benefited from project activities.
- More than 2,100 jobs were created; half of them held by women.
- Over 1,400 individuals obtained international ICT certifications.
- Nearly 1,400 rural households gained broadband access.
- A total of 138 start-ups received financial support.
- Private investment mobilized amounted to $105 million—15 times higher than initial targets.
- Beneficiary-led firms generated almost $39 million in revenue during the project period.
Although the project ended before the introduction of new World Bank Group corporate targets, its results align with broader goals related to job creation by supporting start-ups and improving access to digital skills.
Ana Robakidze, founder and CEO of Theneo, commented: "It is very important that women are not only to be involved in technology, but also become leaders in this field, and that the future is defined by women and not only men."
Project evaluations indicated that combining financial grants with non-financial services such as mentoring was key for lasting impact. Setting gender participation goals ensured benefits reached both women and rural communities.
Looking ahead, ongoing World Bank initiatives aim to further support Georgia’s SMEs through expanded finance options and stronger business ecosystem services. Efforts will continue toward integrating advanced digital solutions—including artificial intelligence—by supporting national strategies on AI development as well as promoting digital literacy among vulnerable groups. These steps are intended to sustain inclusive growth driven by innovation across Georgia.