Launching a Global Startup Foundation – Premier Startup Launchpad in the region involving Israel’s Silicon Wadi and Silicon Valley Tbilisi
For the first time in Georgia, an international startup event for startups to pitch to top global investors from Silicon Wadi will take place at Silicon Valley Tbilisi on May 29th, 2019. The startupers will be welcome to join a global event across all industries as diverse as web/cyber security, online media, e-commerce, fintech, mobile apps, P2P platforms, online gaming and gambling, AI, AR,VR, IoT or other industries, involving an outstanding solutions. A joint, Global Startup Foundation will be launched to support entrepreneurial ecosystem in the region.
The registration of candidates has already started and at the beginning of May, all the pitch decks and other information will be sent to investors, to choose the ones they are willing to meet at the presentation day. After the presentation ceremony, the investors will hold an individual meeting with the selected strartups where they will pitch and further discuss their ideas. The pitch will be held to a distinguished panel of leaders and angel investors from Israeli Silicon Wadi willing to support the Global Startup Foundation. The startups at any stage are welcome to participate.
The official partner for Global Startup Foundation is Israeli Techub in Georgia. The selected startups will be assisted by front end developers, senior developer and an acting CTO for 5 months. They will also have a discounted web design, strategic consulting, marketing consulting, financial and management consulting, legal guidance, that will sum up to 30,000$ value.
Global Startup Foundation is supported by Georgia’s Innovations and
Technology Agency, which will also discuss an opportunity of
funding selected startups in terms of its new Dollar to Dollar
Silicon Valley Tbilisi – Supporting Entrepreneurial Ecosystem in
Entrepreneurial ecosystem in the country is in the process of formulation. Support from government in recent years and different initiatives from international organizations, provided local startups with a growing platform where they can innovate, collaborate with world’s leaders in the industry, work with different funds, commercialize their ideas worldwide. In 2014, under the subordination of the Ministry of Economy and Sustainable Development of Georgia, the government has founded Georgia’s Innovations and Technology Agency, who’s goal was to create grounds and raise welfare of the population for long-term inclusive economic growth. the LEPL "Innovation and Technology Agency" is aimed to create innovation ecosystem in Georgia. The agency carried out important activities in the following main directions :
· Implementation of legal reform in innovation sphere;
· Creation and development of innovation infrastructure;
· Implementing educational activities to support innovations and entrepreneurship;
· Technical support for innovation and entrepreneurship;
· Support access to finances;
· Research and promotion of development (R & D) sector;
· International cooperation in establishing innovations for technologies’ and research development
Soon after founding GITA, Silicon Valley Tbilisi was founded. As the first private high-tech center for business, technology and innovations, it is located in the capital of the Republic of Georgia. It is occupying more than 5000 acres in the center of the city. It was opened in 2016th by the Prime Minister of Georgia. Silicon Valley Tbilisi is the place that links together Business and Technology University, Israeli Techub, IT Academy, IT Labs, AI Lab, Blockchain Lab, Research Centers, Preaccellerator, etc. It was established based on studies of the foreign practice and a two-year research of local labor market, economy, business, technologies and innovations. The long run strategy of Silicon Valley Tbilisi is to support entrepreneurial ecosystem in the country, advance business and technology industry in Georgia and form innovations cluster in the region.
Tech industry’s leading companies like HP, DELL, IBM, Microsoft,
Bitfurry and multiple others, come to Silicon Valley Tbilisi
annually and collaborate in terms of joint projects, hackathons,
tech and entrepreneurship contests, upskilling programs,
pre-acceleration programs, etc.
Business and Technology University (BTU) located at Silicon Valley
Tbilisi, supports entrepreneurial ecosystem with research and
development programs and it offers students innovation in learning
by combining two fields of business and technology. Programs bring
together faculty and professionals from international companies and
universities, integrating leading management and academic thinking
with innovation. BTU offers undergraduate, graduate, and doctoral
programs. The programs are oriented on entrepreneurship based
learning and encourage student’s innovative potential.
Silicon Valley Tbilisi collaborates with Tbilisi Municipality’s new business accelerator ,,Spark’’ which was founded in 2019 with the support of EU. Spark offers acceleration programs and fundraising opportunities to selected startups.
Silicon Valley Tbilisi has signed an agreement with MIT (Massachusetts Institute of Technology) to run a Global Startup Lab project in Georgia, in 2020. Business and Technology University is the only regional partner for MIT in the region.
Georgia’s Innovations and Technology Agency
Founded in 2014, by the government of Georgia, the LEPL "Innovation and Technology Agency" is aimed to create innovation ecosystem in Georgia. Among multiple projects and programs, Georgian Innovations and Technologies Agency is implementing financing programs for start-ups to support the financial access, as on commercialization as well on the research-development stage.
One of it’s program called ,,Startup Georgia’’was created by the initiative of Prime Minister of Georgia within the framework of economic reform, which, on the one hand, is one component of the government 4-point plan. The program was developed together by Georgian Innovations and Technologies Agency and the Partnership Fund, which was approved by the government 2016 Decree No.206 of the May 11th of the year. The purpose of the program is to promote business based innovative ideas and to establish on the international market.
The program consists of two components : innovative component and high-tech component. The Agency carries out a high-tech component and finances projects of the following directions : aerospace production, automobiles, artificial intelligence, biotechnology, bioinformatics, computer engineering, computer science, information technology, nanotechnologies, nuclear physics, electromagnetic radiation, robotics, semiconductors.
· The project is evaluated by leading international experts from Silicon Valley;
· Investment Funding upto 100,000 GEL;
· Applicant's financial involvement not required;
· The applicant’s share participation is 95%;
· Submitting successful projects to international investors in Silicon Valley;
· The agency remains a partner of a 5% share in the joint venture for a period not exceeding 7 years and does not interfere with the start of management;
· Ensure mentoring and coaching.
Within the framework of the high-tech component of program “Startup Georgia” from 149 received application, 20 startups were selected and financed with the amount of 100 000 GEL. The winners from Startup Georgia program are also willing to meet investors from Global Startup Foundation.
Global Startup Foundation is supported by GITA which will discuss an opportunity of funding selected startups in terms of its new Dollar to Dollar Basis initiative.
For more information about Georgian Innovations and Technology Agency please follow the link below:
Israeli Techub in Georgia
Global Startup Foundation is supported by Israeli Techub in Georgia. The selected startups will be assisted by front end developers, senior developer and an acting CTO for 5 months. They will also have a discounted web design, strategic consulting, marketing consulting, financial and management consulting, legal guidance, that will sum up to 30,000$ value.
Israeli Techub in a high-tech teaching and training center, which
was founded in 2018th, with the support of the government of
Georgia, Israeli embassy in Georgia and the Co-Founder of Techub,
Meni Benish, Benish Group. Techub is based at Silicon Valley
Tbilisi and it implements a unique format for the training of IT
specialists, which is used in the army of Israel. The initiator of
the opening of Israeli Techub is Eran Lasser. In the past, he has
held a senior position in Mamram, Israeli IT training Center for
Army. After the end of army service Eran founded and managed a
private institution John Bryce Training for the civil sector. Today
John Bryce Training occupies more than 70% of the Israeli IT market
and has branches in Hungary, China and Turkey. Israeli Techub will
work in Georgia as an analogue of such a center.
Techub is adapting the Israeli Telem method, designed to work on the strengths of each student and understanding each student motivation. This training is based on case studies and practical exercises without boring lectures and wasting of time. Techub also formed the Advisory Board, where it invited IT industry leaders, who know what the market needs are.
For more information about Israeli Techub please follow the link below:
We hope that launching a Global Startup Foundation and giving an opportunity to Georgian startups to collaborate with Silicon Wadi based investors, will create inspiring success stories around the world, where startups will continue to improve the lives of others with their innovative solutions.