The World Bank Implementation Status & Results Report
Georgia National Innovation Ecosystem (GENIE) Project (P152441)
Georgia National Innovation Ecosystem (GENIE) Project (P152441)
EUROPE AND CENTRAL ASIA | Georgia | Finance, Competitiveness and Innovation Global Practice |
IBRD/IDA | Investment Project Financing | FY 2016 | Seq No: 13 | ARCHIVED on 01-Dec-2022 | ISR53909 |
Implementing Agencies: Georgia's Innovation and Technology Agency, Ministry of Economy and Sustainable Development, Ministry of Finance,
Shota Rustaveli National Science Foundation
Key Dates
Key Project Dates
Bank Approval Date: 18-Mar-2016 Effectiveness Date: 21-Jul-2016
Planned Mid Term Review Date: 26-Oct-2018 Actual Mid-Term Review Date: 26-Oct-2018
Original Closing Date: 30-Apr-2021 Revised Closing Date: 31-Mar-2023
pdoTable
Project Development Objectives
Project Development Objective (from Project Appraisal Document)
The PDO is to increase innovative activities of firms and individuals in the Borrower's territory and their participation in the digital economy.
Has the Project Development Objective been changed since Board Approval of the Project Objective?
No
Components Table
Name
Innovation Infrastructure:(Cost $1.59 M)
Innovation Services:(Cost $5.05 M)
Innovation Financing:(Cost $14.69 M)
Project Implementation Support:(Cost $2.07 M)
Overall Ratings
Name Previous Rating Current Rating
Progress towards achievement of PDO Satisfactory Satisfactory
Overall Implementation Progress (IP) Satisfactory Satisfactory
Overall Risk Rating Moderate Moderate
Implementation Status and Key Decisions
All four PDOs have exceeded more than 100% of their End of Project targets.
159 startups have been financed by project beneficiaries compared to a target of 140.
1,380 households and firms have been provided access to Internet Services through the project. The target was 1,200.
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The World Bank Implementation Status & Results Report
Georgia National Innovation Ecosystem (GENIE) Project (P152441)
Approximately $75 million in private financing has been catalyzed through the GENIE program compared to a post-restructuring target of
$7 million. Approximately $30-$35 million has been raised through direct investments while the other $30-$35 million can be attributed to
acquisition proceeds.
91 new/improved products/services have been introduced to existing or new markets by Project beneficiaries, compared to a target of 70.
The project aims to achieve 50% female participation in all programs; Two of the three gender-related indicators have exceeded targets,
the third is well on course to meet its target.
54.3% of visitors to the CICs and RIHs (or participants in online programs during the COVID-19 crisis) so far have been female.
45% of beneficiaries that have received structured training, coaching, mentoring or technical assistance through the program so far have
been female.
53.4% of all project beneficiaries are female.
Nine of the other eleven indicators have met or exceeded their ‘end-of-Project’ targets:
Four Community Innovation Centers have been established in Rukhi, Akhmeta, Kaspi, and Gurjaani.
Three Regional Development Hubs have been established in Tbilisi, Telavi, and Batumi.
There have been 37,823 visitors to CICs and RIHs. The target was 25,000 visitors.
2,527 individuals have participated in online programs offered since the start of COVID-19 crisis. This is against a target of 1,500.
2,155 beneficiaries have received business coaching or ecommerce training through the Project.
1,840 full-time employees have been hired by start-ups that have received financing, coaching, or mentoring. The target was set at 600.
Start-ups that have received financing, coaching, or mentoring through the Project have generated revenues of $25.6 million against a
target of $4 million.
The Project has 42,143 direct project beneficiaries so far.
Feedback has been collected from 22,945 beneficiaries through citizen engagement.
3351 have participated in the digital skills training program compared to a target of 3000. 1,551 have completed their training.
Two of the indicators – both tied to the delayed Digital Skills Training Program – are on track to meet their targets by the end of the
Project.
1,551 participants participated in the pilot and Phase 1 of the program. Another 1,800 entered in the program in May 2022 at the start of
Phase 2. The project is targeting 3000 participants[1].
As of October 2022, 792 individuals have received international certification compared to a target of 900.
[1] Participation is defined as participating in at least 70% of the training time or scoring at least 51% in the internal examination.
Risks
Systematic Operations Risk-rating Tool
Risk Category Rating at Approval Previous Rating Current Rating
Political and Governance Moderate Moderate Moderate
Macroeconomic Moderate Moderate Moderate
Sector Strategies and Policies Moderate Moderate Moderate
Technical Design of Project or Program Substantial Moderate Moderate
Institutional Capacity for Implementation and
Substantial Moderate Moderate
Sustainability
Fiduciary Moderate Moderate Moderate
Environment and Social Low Low Low
Stakeholders Low Low Low
Other -- -- --
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The World Bank Implementation Status & Results Report
Georgia National Innovation Ecosystem (GENIE) Project (P152441)
Overall Substantial Moderate Moderate
Results
PDO Indicators by Objectives / Outcomes
Increase innovative activities of firms
IN01217885
►New/improved products/services introduced to existing or new markets by Project beneficiaries (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 91.00 91.00 70.00
Date 31-Dec-2015 31-May-2022 23-Nov-2022 31-Mar-2023
Increase innovative activities of individuals
IN01217886
►Startups financed by project beneficiaries (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 159.00 159.00 120.00
Date 31-Dec-2015 31-May-2022 23-Nov-2022 31-Mar-2023
Increase firms' and individuals' participation in the digital economy
IN01217887
►Access to Internet Services (number of beneficiaries subscribed) (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 1,380.00 1,380.00 1,200.00
Date 31-Dec-2014 31-May-2022 23-Nov-2022 30-Apr-2021
IN01217888
►Private financing catalyzed through GENIE programs (Amount(USD), Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 75,000,000.00 75,000,000.00 7,000,000.00
Date 29-Jul-2016 31-May-2022 23-Nov-2022 31-Mar-2023
Intermediate Results Indicators by Components
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The World Bank Implementation Status & Results Report
Georgia National Innovation Ecosystem (GENIE) Project (P152441)
Innovation Infrastructure
IN01217889
►RIHs established, equipped, and operational (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 3.00 3.00 3.00
Date 01-Jul-2015 31-May-2022 23-Nov-2022 30-Apr-2021
The Tbilisi Techpark is now counted as an RIH
Comments:
IN01217892
►CICs established, equipped, and operational (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 4.00 4.00 4.00
Date 31-Dec-2015 31-May-2022 23-Nov-2022 30-Apr-2021
please note that the previous count (3) was an error
Comments:
IN01217894
►Visitors to CICs and RIHs (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 26,576.00 37,823.00 25,000.00
Date 31-Dec-2015 31-May-2022 23-Nov-2022 31-Mar-2023
IN01217899
►Participants in online programs led by RIHs & CICs (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 1,570.00 2,527.00 1,500.00
Date 29-Jul-2016 31-May-2022 23-Nov-2022 31-Mar-2023
IN01217901
►Female visitors to CICs and RIHs / participants in online programs (Percentage, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 57.40 54.30 50.00
Date 12-Aug-2020 31-May-2022 23-Nov-2022 31-Mar-2023
Innovation Services
IN01217890
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The World Bank Implementation Status & Results Report
Georgia National Innovation Ecosystem (GENIE) Project (P152441)
►Participants in structured digital skills training programs (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 1,313.00 1,551.00 3,000.00
Date 11-Aug-2020 31-May-2022 23-Nov-2022 31-Mar-2023
IN01217897
►Beneficiaries of business coaching or eCommerce training (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 1,230.00 2,115.00 2,000.00
Date 31-Dec-2015 31-May-2022 23-Nov-2022 31-Mar-2023
IN01217900
►Individuals obtaining international certification through project training programs (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 449.00 792.00 900.00
Date 04-Aug-2020 31-May-2022 23-Nov-2022 31-Mar-2023
IN01217902
►Females receiving structured training, coaching, mentoring or technical assistance (Percentage, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 27.00 27.00 50.00
Date 01-Jul-2016 31-May-2022 31-May-2022 31-Mar-2023
Innovation Financing
IN01217896
►Full-time employees hired by start-ups that have received financing, coaching or mentoring (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 1,649.00 1,649.00 500.00
Date 29-Jul-2016 31-May-2022 31-May-2022 31-Mar-2023
IN01217898
►Revenue of start-ups that have received financing, coaching or mentoring (Amount(USD), Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 18,226,834.00 18,226,834.00 4,000,000.00
Date 29-Jul-2016 31-May-2022 31-May-2022 31-Mar-2023
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The World Bank Implementation Status & Results Report
Georgia National Innovation Ecosystem (GENIE) Project (P152441)
Project Implementation Support
IN01217891
►Direct project beneficiaries (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 30,658.00 30,658.00 35,000.00
Date 31-Dec-2015 31-May-2022 31-May-2022 31-Mar-2023
IN01217893
Female beneficiaries (Percentage, Custom Supplement)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 52.30 52.30 50.00
IN01217895
►Citizen engagement: user feedback collected from project beneficiaries (Number, Custom)
Baseline Actual (Previous) Actual (Current) End Target
Value 0.00 19,347.00 19,347.00 15,000.00
Date 01-Jul-2015 31-May-2022 31-May-2022 31-Mar-2023
Performance-Based Conditions
Data on Financial Performance
Disbursements (by loan)
Project Loan/Credit/TF Status Currency Original Revised Cancelled Disbursed Undisbursed % Disbursed
P152441 IBRD-85950 Effective USD 40.00 23.50 16.50 23.01 0.49 98%
Key Dates (by loan)
Project Loan/Credit/TF Status Approval Date Signing Date Effectiveness Date Orig. Closing Date Rev. Closing Date
P152441 IBRD-85950 Effective 18-Mar-2016 28-Mar-2016 21-Jul-2016 30-Apr-2021 31-Mar-2023
Cumulative Disbursements
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The World Bank Implementation Status & Results Report
Georgia National Innovation Ecosystem (GENIE) Project (P152441)
Restructuring History
Level 2 Approved on 04-Apr-2019 ,Level 2 Approved on 18-Nov-2020 ,Level Approved on 02-Dec-2020 ,Level Approved on 27-May-2021
Related Project(s)
There are no related projects.
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