Georgia’s Golden Fleece of entrepreneurs and start-ups

With all eyes on a parliamentary election next month, Georgia’s spirit of innovation, entrepreneurship and problem-solving should not be ignored.

Much is currently being written about Georgia’s pivotal parliamentary election (set to take place on October 26), yet the country being a hotbed of entrepreneurial spirit, innovative start-ups and engineering excellence is often overlooked.

Without doubt, the vote in October will be important for the country’s economic, political and social direction, but the promising and dynamic emerging SME scene in the South Caucasus should not be ignored.

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With these SMEs in mind, a joint project, Strengthening the Partnership between Belgium and Georgia through Temporary Mobility of Entrepreneurs (EMLINK), first set up in 2023 and which runs until February 2025, has been busy harnessing Georgia’s entrepreneurial spirit.

The project is being implemented by the International Centre for Migration Policy Development (ICMPD) and is funded by the European Union within the Migration Partnership Facility (MPF).

This aims to strengthen bilateral cooperation between Belgium and Georgia by designing a pilot temporary mobility scheme for outstanding entrepreneurs. The EU-funded EMLINK project focuses on the mobility of Georgian businessmen and women, and is designed to facilitate access to new markets and business opportunities, all while increasing the competitiveness of the private sector, incentivising job creation, and increasing foreign investments.

As such, this aligns with the main goal of the SME Development Strategy of Georgia for 2021-2025, as well as creating a potential blueprint for further future partnership initiatives.

The ICMPD-EMLINK project is sector-agnostic and is committed to advancing early-stage, ambitious Georgian start-ups that demonstrate clear potential for international expansion through counsel from experts; facilitated networking possibilities with investors, VCs and accelerators in Belgium; and exploring opportunities provided by EU-funded programmes for start-ups.

A broad church of entrepreneurial talent

The breadth and depth of the SME ecosystem in Georgia is exemplified by the companies that chosen to benefit from the ICMPD-EMLINK project.

All of the start-ups are addressing very specific problems, utilise technology to great effect and are scalable. They are all also led by energetic and innovative entrepreneurs who want to address very specific defined needs in society, ranging from AI-powered mental and physical health applications, fintech and platform work solutions to sustainable travel and fire safety products.

Elven Technologies for example has developed a versatile, lightweight and cost-efficient composite material that can withstand temperatures of up to 2000°C. This can be used in a variety of industry applications providing heat/security solutions. The firm’s main focus is on providing battery fire safety solutions for the electric vehicle sector.

Payze meanwhile is a fintech platform allowing enterprise merchants to accept online payments in the Caucusus and Central Asia via a single API integration. It offers a range of services and technical solutions in different currencies and across various regions. 

Biliki AI offers an AI-powered travel planning platform to help environmentally conscious travellers plan their sustainable trips effortlessly. The solution allows travellers to reduce their carbon footprint by 10 per cent with innovative, eco-friendly itinerary suggestions.

BiteriumAI helps people to prevent cardiovascular diseases at an early stage by 70 per cent via an AI-powered SaaS solution for healthcare providers to accelerate the time of diagnosis, provide precise care and save time. From a patient perspective, the solution offers a conversational mobile app with a follow-up checkup system and evidence-based recommendations.

Herio is a platform that connects businesses requiring part-time employees with students wanting to make money fast. The app is focused on young people looking for paid opportunities in the hospitality and retail sectors.

Forma Healthy provides a platform that integrates healthy living and social networking. Its multifunctional app focuses on measuring diet and nutritional values of food, as well as providing information and recommendations from prominent doctors and nutritional experts. The app also covers when and how to exercise.

Neuropilot VR helps athletes and CEOs manage anxiety through immersive sessions delivered via a VR headset. Its patented ’Desire Therapy’ is integrated into these sessions.

Printomato is a company providing free photo prints from wall-mounted photo booths in bust locations. It focuses on shopping centres, bars and restaurants.

Signify is a digital contracting platform for SMEs, which enables them to prepare, sign, store and manage their legal documents in one place. The Signify solution is easy to use and much cheaper than alternative highly complex products.

Sidekick offers a gameified self-improvement app that focuses on personalised mental health solutions for users. The app is aimed at addressing depression, stress and anxiety by allowing users to take control of their mental wellbeing through tailored, effective solutions.

Don’t ignore Georgia’s potential

While the political carousel in Georgia does not stop moving, neither does the spirit of innovation, entrepreneurship and problem-solving.

This and the general appetite for progress remain strong in the country. Potential partners and investors should not ignore the potential that this represents.

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