With technology and innovation key to transforming its economy, Georgia remains committed to nurturing the blossoming startup sector. The country has been steadily investing in entrepreneurship programs through regional acceleration initiatives and public-private venture funds.
Speaking at an event hosted by 500 Global, the Economy Minister Levan Davitashvili affirmed the government’s ongoing backing for this promising industry. “We have worked for years to develop the startup ecosystem and provide opportunities for growth,” he stated. Initiatives like joining regional accelerator programs allow local entrepreneurs to boost skills, network globally, and market products internationally.
This year saw the establishment of a venture fund in partnership with private investors. This enables startup ventures to raise funding both within Georgia and abroad. The impetus for such support is clear – tech firms are central to modernizing the economy. 500 Global, a $2.4 billion VC with a mission to fuel digital innovation, recognized Georgia’s potential by launching the nation’s inaugural global accelerator program. Supported by state agencies like GITA and Bank of Georgia, it aims to nourish entrepreneurial talent.