Growing new businesses for Georgia
GRAs I&E program fills a key gap at a crucial moment
More innovations from Georgia’s universities are brought to the world because of GRA’s Innovation & Entrepreneurship (I&E) program. Through I&E, GRA turns inventions and discoveries into products that serve industry and benefit Georgians.
I&E provides seed investment and guidance to university researchers at a point when their lab discovery shows commercial potential – but needs more validation and development to be market-ready. It’s a point in time when most outside investors want to see less risk and more progress before getting involved.
GRA steps into this gap. Our I&E program awards grants and loans and provides researchers with expertise and connections that help technologies reach crucial milestones and move forward.
GRA’s I&E program generates extraordinary impact on Georgia. I&E:
Drives economic growth. Through GRA’s grants, loans and guidance, 200-plus I&E projects and companies have attracted over $2.3 billion in follow-on equity investment, primarily from investors outside Georgia. In addition, the Georgia-based startups generate annual revenues, further adding to the state and local tax base.
Creates new workforce opportunities. Many of the jobs and contracting opportunities generated by the startups are highly skilled positions in life science and technology businesses. The startups not only employ Georgians – they also provide valuable experience for mobility to other companies.
The young companies are resilient, too: 87% of GRA-backed startups are still in business after four years (double the national average of 44%).
Strengthens key industry sectors in Georgia. The technologies GRA helps move out of universities align well with Georgia’s top industries. GRA’s I&E program also works actively to connect entrepreneurial researchers with representatives from Georgia companies. All of this assures that innovation flows from universities to industry, generating new growth in key sectors.
