Ambassador Degnan’s Remarks to Media at Catapult Georgia Venture Capital Fund Announcement

Photo: Ministry of Economy of Georgia

Question about the event

Ambassador Kelly Degnan: I am very excited to be here tonight to lay the foundation for Catapult Georgia – the first Silicon Valley venture capital fund in Georgia. Catapult Georgia is a dedicated venture fund up to $50 million focused on high growth, tech and innovation companies in Georgia. The aim is to help Georgian investors attract more US and foreign investors to companies here in Georgia. We are really thrilled to be able to support investors’ Georgian start-up companies, where the drive and the creativity, and the independent thinking that Georgians and Americans share, can really flourish. Georgia has scored well on a number of business indexes, but of course, to attract good investors you need more than just a rankings on a business indexyou need to have a system framework in placeand the substance in place for investors to see that there is a level playing field here, that their contracts and their business agreements will be upheld in a timely and impartial manner. That also means that there needs to be a credible judicial system in place, as well as a business framework and a government that’s conducive to business investments. We look forward to working with Catapult Georgia and the government of Georgia in stimulating more American investment here in Georgia in the coming days. Thank you.