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Official Code of Georgia Annotated

Title 50. STATE GOVERNMENT · Chapter 7. DEPARTMENT OF ECONOMIC DEVELOPMENT · Article 8. INNOVATION IN GEORGIA

50-7-90. Definitions.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. As used in this Code section, the term:

  2. (1)

    “Innovation” means the use or incorporation of a new idea, a new or emerging technology, or a new use of existing technology to address a problem, provide a benefit, or otherwise offer a product or service.#

  3. (2)

    “Innovative product or service” means a product or service that includes an innovation.#

  4. (3)

    “Startup” means an entity that:#

    1. (A)

      Once it is operational, intends to:#

    2. (i)

      Offer an innovative product or service as its principal function;#

    3. (ii)

      Be registered as a business entity in Georgia; and#

    4. (iii)

      Have its principal place of business in Georgia; and#

    5. (B)

      Was created or developed by one or more individuals who have never owned, directly or indirectly, more than 25 percent of any business that has had more than $100,000.00 in gross receipts in a single year.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 50-7-90, enacted by Ga. L. 2021, p. 271, § 3/HB 611.

Effective date

This Code section became effective July 1, 2021.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t49-t50-ch1-12-(v38)-2023-pdf.pdf, Volume V38, 2023 edition, pages 694 to 695; merge action: carried; file SHA-256 b1a50b0e3917.