Entrepreneurs wanted: Georgia launches contest to find best business ideas

A group of delegates from 30 countries will visit Georgia on October 21-23, 2015. Photo by N. Alavidze/Agenda.ge
Agenda.ge, 15 Feb 2016 - 18:42, Tbilisi,Georgia

Entrepreneurs in Georgia with creative business ideas are invited to apply to a competition that will see their dreams turned into reality.

The competition to discover innovative and unique business concepts was a way to encourage creation of new enterprises in the country, said officials.

Applications can be submitted from today until March 31. All application forms and necessary information can be found here: www.qartuli.ge.

The competition, held under the umbrella of the Government’s 'Produce in Georgia' project, was part of the Micro and Small Enterprise Promotion program.

For this round, competition organisers announced women’s business ideas will be a priority.

About 3,000 beneficiaries will have the opportunity to undergo special training, while 1,500 beneficiaries will obtain co-financing to implement their business projects. For successful candidates, 5,000 GEL (about $2,000/ €1,789*) will be allocated per one entrepreneur, 10,000 GEL (about $4,000/€1,431*) per two entrepreneurs and 15,000 GEL (about $6,000/€ 5,369*) per three entrepreneurs.

Georgia’s Ministry of Economy announced the first round of the competition was successful when 1,620 successful business ideas were financed and 3,118 beneficiaries were trained.

The Micro and Small Enterprise Promotion program started in Georgia in 2015 with the total budget of 20 million GEL (about $8,000,512/ €7,159,295*).

* Currencies are equivalent to today's National Bank of Georgia exchange rate.