Global business accelerator 500 Startups has selected two winning startups in Georgia that will travel to Silicon Valley in the spring of 2021 and participate in a one-month programme of 500 Startups.
One winner is an auction portal for used vehicles Cardeal and the second is an intelligent logistics platform, Cargon.
Georgian Economy Minister Natia Turnava attended the ceremony of the unveiling of the winning Georgian startups, noting that the country is ‘rich with talented and creative people.’
Innovation is our future and we are very supportive of developing the innovation ecosystem in the country. Today was an unprecedented day for Tbilisi - the first 'demo day' for Georgian startups, selected by our American partners who had the opportunity to introduce their business ideas online to the world, including American investors", Turnava said.
At the first stage 15 startups were selected under the acceleration programme, while the second stage of the project selected the 10 fastest growing start-ups. Photo: Ministry of Economy.
500 Startups went on the hunt for smart and passionate entrepreneurs from Georgia and the neighbouring countries in May 2020 when it launched the first international accelerator in the country, 500 Georgia, in partnership with the Georgian Innovation and Technology Agency and Bank of Georgia.
At the first stage 15 startups were selected under the acceleration programme, while the second stage of the project selected the 10 fastest growing start-ups. Among them were startups from Azerbaijan, Ukraine and the United Arab Emirates.
Only five of them could continue the competition with the financial support from the Bank of Georgia, while today the two winners were revealed.
500 Startups has backed more than 2,400 companies or 5,000 entrepreneurs in more than 75 countries.