Entrepreneurs wanted: Georgia launches contest to find best business ideas
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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.
The Government of Georgia has approved two new projects within the ‘Produce in Georgia' scheme, in which more than one million GEL will be invested into the country’s business sector to stimulate domestic production and develop production-oriented industries.
Two new fruit and vegetable processing factories are opening within the ‘Produce in Georgia’ state program, which supports development of industry in Georgia.
Three new enterprise projects will be established within the ‘Produce in Georgia’ state program, which supports development of industry in Georgia.
Four million GEL was invested in the new Geocap company, which was implemented under the ‘Produce in Georgia’ state program.
One year on from the establishment of the Produce in Georgia program, 90 new projects with a collective investment portfolio of $252 million USD have been implemented in the country, says Georgia’s Economy Ministry.
A multi-million dollar greenhouse has opened in the Kapanakhchi village in Georgia's Gardabani region within the framework of the state program Produce in Georgia.
Creative and unique business ideas from Georgia’s regions are starting to be revealed as a way to develop and support entrepreneurship, encourage creation of new enterprises and increase export potential in the country.
Changes allow more SMEs to access Gov’t funding
The Government of Georgia is stepping up its support for small businesses, developing the hospitality industry and creating better conditions for foreign investors to invest in Georgia.
A new nut processing factory, a tea factory and a milk processing plant will built in Georgia within the ‘Produce in Georgia’ state program.
Three new factories will be created in three different regions of Georgia within the state program ‘Produce in Georgia’.
Georgia’s Prime Minister Giorgi Kvirikashvili has announced the creation of two new enterprises that will bring about 100 jobs to the country.
Millions of Lari is being invested in two new large enterprises that will bring about 350 jobs to the country, announced Georgia’s Prime Minister today.
Enterprise Georgia will begin accepting applications for its Micro and Small Business Support Program on October 5, with registration running through October 18.