New competition supports Georgia’s aspiring entrepreneurs

Budding entrepreneurs in Georgia with innovative business ideas are invited to turn their dreams into reality through a new competition and potentially win 10,000 GEL to launch their idea.

A nationwide competition for Georgian students has launched in a bid to find and develop creative, innovative and unique ideas.

The Smart-up Georgia competition is being organised by BDA Consulting from Estonia in conjunction with 27 Georgian universities and other organisations.

Students who wish to apply for the competition must attend today’s kick-off event at Tbilisi State University from 2-6pm.

At the kick-off event, students will pitch their business idea to industry insiders to see if it has potential, and meet other likeminded students and create business teams. One requirement of the competition noted each business idea must be submitted by teams that consisted of at least two people.

Also, interested applicants will get tips on how to apply for the Smart-up Georgia competition. The application deadline is December 22.

"We will involve local entrepreneurial minded people as mentors to activate the local community and to ensure the sustainability of local entrepreneurship fostering activities in the future,” organisers said.

In addition, some well known Estonian investors will participate in the program as mentors.

The competition will consist of a panel of experts selecting the best ideas, training and mentoring selected teams, holding pitching contests, a study trip to Estonia and rewarding the best teams with a cash prize of 10,000 GEL to help them establish their business idea.

The competition is financed by the Estonian Ministry of Foreign Affairs.