Funding Opportunities for Innovative Enterpreneurship in Georgia

Abstract

In the modern world, innovative business is an opportunity to implement new ideas and introduce innovation. The entrepreneurial sector contributes to the introduction and development of modern business. Financing mechanisms are the most important obstacle to innovative activities in small and medium-sized enterprises. The paper’s main goal is to determine the possibilities of access to finance, the ways of obtaining financing, and the challenges of innovative entrepreneurs. To evaluate the impact of private and state support programs in creating an innovative product. The work discusses the essence of innovation and the subjects of innovative activity. It is about all the necessary information an entrepreneur needs to create an innovative product. Attention is also focused on the importance of private and state programs in financing. The work is also based on qualitative research, identifying factors hindering access to finance. The paper outlines ways and perspectives of access to finance. In the future, paying more attention to both the private sector and the state is necessary. Because creating innovation is their common interest. The government of Georgia needs the right policy and priority directions. In particular, the establishment of tax benefits and preferential loan conditions. It is important to raise education and awareness in society in the direction of entrepreneurship. The obtained results will allow us to measure the effectiveness of the support programs. Conclusions on the optimization of innovative entrepreneurship are formulated.