28 Oct 2016 - 11:43
Georgia is creating new opportunities for start-ups by launching a special program that will strengthen ties between large companies and young entrepreneurs and foster friendly relationship between them.
Today Georgia’s Prime Minister Giorgi Kvirikashvili announced a new ‘Start-up Friendly’ scheme, which is part of the ‘Start-up Georgia’ state program that launched in Georgia this summer.
We have started a completely new phase, a new stage for developing Georgia’s economy,” said Prime Minister Kvirikashvili while presenting the new program.
The main idea of the ‘Start-up Georgia’ program was to foster entrepreneurial spirit in the country by offering young creative minds funds and support to turn their new business idea into reality.
Now the program has expanded and will bring more opportunities to young businessmen. Kvirikashvili said ‘Start-up Friendly’ will help them to establish friendly relations with large companies and this will encourage networking, while on the other hand large investors will have an opportunity to get involved in developing different fields in Georgia.
Representatives of large companies operating in Georgia and young entrepreneurs met each other today to learn more about the 'Start-up Friendly' new scheme. Photo by the PM's press office.
This format is necessary because any start-ups need communication with new technologies and big capital. The format which is creating today will be a bridge [between new businesses and large companies] that will enable young businessmen to have a gate into the large business,” Kvirikashvili said.
‘Start-up Friendly’ will promote implementation of project that would benefit both start-ups and large businesses. The program aimed to support start-up development and help them to be better positioned in the market.
Within the new scheme, start-ups will introduce their business ideas to large companies and get support from them as they turn their business idea into reality.
‘Start-up Friendly’ will be part of large businesses Corporate Social Responsibility (CSR), said the PM. By joining the program they will be able to help small and young companies to get settled in the market, support the development of different fields, contribute to the country’s economic development and will win hearts of new or loyal customers.
One of the largest banks in Georgia TBC Bank was the first company to join the program today.
‘Start-up Friendly’ as well as ‘Start-up Georgia’ is part of the Georgian Government’s four-point reform agenda, which aims to stimulate economic growth.