The schools of successful schoolchildren were also awarded with cash prizes.

The 32 schoolchildren who came in first place in the 2011-2012 Academic Olympics were each awarded 1,000 Gel; the 32 schoolchildren who came in second place were each awarded 700 GEL; the 31 schoolchildren in third place – 500 GEL. According to the ranking of the schools, the 9 highest achieving schools each received 5,000 GEL; the next 9 schools each - 4,000 GEL; the third group of 9 schools each got 3,000 GEL.

An unprecedented number of schoolchildren took part in the 2012 Academic Olympics. Of the 265,000 schoolchildren, 52,610 passed the first round of competition. Only 2,293 students passed the second round. The first selection round of the Academic Olympics was held at schools. The second and the third rounds were carried out by the National Examinations Center of MES. The second round was held 91 schools of 65 cities and regional centers.   

The Academic Olympics is held each year in the following subjects: Georgian language and Literature, Math, Foreign Languages, History, Geography, Physics, Chemistry, Biology and Computer Science. The Olympics consist of 3 rounds in Georgian as well as Armenian, Azeri and Russian.   The top 10 schoolchildren in the final round become the members of the National Team and take part in the International Student Olympics.

The number of participating schoolchildren and their level of preparation increases every year making the event more competitive. The National Team usually returns from the International Student Olympics victorious.