Memorandum of Understanding between the Business Association of Georgia and Shota Rustaveli National Science Foundation of Georgia

18 Oct '19

The signing ceremony of the Memorandum of Understanding between the Business Association of Georgia and the Shota Rustaveli Georgian National Science Foundation was held at the office of the  Business Association of Georgia.

The memorandum was signed by Levan Vepkhvadze, Executive Director of the Business Association of Georgia and Zviad Gabisonia, General Director of the Rustaveli Foundation.

It was mentioned at the event that this is the first precedent in science and business cooperation in Georgia. The Parties shall actively cooperate in promoting joint applied research between the scientific-academic sector and the business sector. This memorandum will promote fulfilmentSpecial recommendation from Eurpean Union ,,Policy Support Facility”

The memorandum will present the selected projects in the field of applied research of the SRNSFG to the business companies and the scientific projects, which will be commercialized as effective and profitable, will become business projects. One of the major challenges for post-Soviet countries is the commercialization of applied scientific research, the transfer of research to commercial transfers, the intensification of cooperation between science and the economic sector, which will ultimately contribute to the country's socio-economic development.