Component 3

Strengthening Financing Options and Promoting Internationalization in Higher Education

The objective of the third component of the project is to improve the quality and international competitiveness of higher education.

To facilitate the improvement of funding mechanisms for higher education in Georgia, based on an analysis of the existing system and its regulatory framework, the project is developing a new diversified funding model consisting of two main pillars: Core funding and Performance-based funding model.

The project aims to support the implementation of a new funding models by proposing the necessary changes in all relevant legal and sub-legal acts governing the financing of HE at the state level and creating HEIs information management database system that allows measuring the institutional effectiveness of HEIs based on the analytical processing of reliable data.

As one of the mechanisms for diversified financing of higher education, the project envisages the establishment of a Competitive Innovation Fund (CIF) within the MESY. The project finances two grant competitions under the CIF with a total budget of 4.2 million US dollars. The strategic goal of the CIF as a competitive grant instrument for HEIs is to foster the modernization of higher education academic programs and learning environments.

The project envisages specific measures to improve the internationalization of higher education, for which a joint doctoral program in education and science management is being created in cooperation with an international partner. Modules for undergraduate studies are being elaborated, aimed at developing students’ entrepreneurial skills and sectoral English language skills.

Along these lines, this component will support the establishment of International Excellence School (IES) which provides a focused academic environment with short-term courses on a variety of topics. The general objective of IES is to build research capacity within Georgian universities enhancing the quality of their research structures, processes, outputs and strengthening their research environment. Hence, the setting up of the IESs fosters the diffusion of international best practices on research and innovation within the Georgian higher education system and institutions.

To achieve the goals set within the component, high-level expert assistance, involvement of local universities and specialists, and cooperation with international partners are provided, including IBF International Consulting/Belgium, UCL Consultant/UK, Savvy Business sLtd/Bulgaria, Seatig Inc./USA, etc.