THE ROLE OF UNIVERSITY TECHNOLOGY TRANSFER OFFICES IN THE INNOVATIVE DEVELOPMENT OF THE ECONOMY OF GEORGIA
Authors: Gagnidze Ineza 
Published: August 2020

Facing the 4th and 5th industrial revolutions, worldwide- recognized research centers forecast particularly high rates of economic development. There is no doubt that a small country like Georgia cannot determine trends in the development of the world economy. Therefore, given the above conditions, it is difficult to choose the right vector of development.
We believe that for making the right choice several factors should be taken into consideration; in particular, elaboration and implementation of the education programs and development of the sectors that will provide the possibility to adopt and introduce the new technologies created in the developed countries in Georgia should be supported; based on competitive advantages of Georgia production of inelastic demand goods should be focused on. For the implementation of the above-mentioned directions, formation of appropriate entrepreneurial universities should be encouraged, which, in turn, will contribute to the formation of clusters around them, development of regional economy and creation of an entrepreneurial ecosystem.
As known, demand for the products that are essential for humans to exist is inelastic. In particular, these are potable water, food, medicines, hygiene products, relax/ recreation, etc. Georgia can produce bio-products in some of the above sectors not only to satisfy the demand on the domestic market, but for export as well.
We would like to note that in Georgia, there is a great potential of combining the results of the studies on mineral waters and medicinal plants, which will allow to produce unique, biological medicinal hygienic products, household chemistry, agricultural pesticides and minerals used for soil enrichment and in irrigation systems, etc. It should be noted as well that production and usage of such goods will allow Georgia to care for the health of its population and the environmental conditions and to enter developed markets.
Unfortunately, the studies conducted in Georgia show that there is no efficient connection between education and business. This is indicated by GIZ, NGOs, universities and local government officials. Rigid legislative and internal system in state universities, which represents one of the reasons for such a failure, is also highlighted.
In addition, we would like to note that in the World Economic Forum reports 2014-2018, ‘inadequately educated workforce’ takes the first position among the factors that are most problematic for doing business. Traditionally, the country has had a poor position in terms of access to training.
In order to be able to introduce the innovations, find a new niche in the international markets and become an economic leader in the region, we consider that it is necessary to establish technology transfer offices in the universities functioning in the regions of Georgia. The issue is analyzed based on the best practice of foreign countries, namely: the USA, Germany, France, Italy, UK, South Africa, etc.
Due to the above-mentioned factors, it is necessary to form an education system that is directly and systematically linked to the development of the economy. This is ensured by the effective functioning of technology transfer offices in entrepreneurial universities.
This approach is fully compatible with the policy of the government of Georgia with special emphasis on green economy and education, which, in our opinion, is the right vector for development.