With the support of the Bank of Georgia and the initiative of the Agency for Innovation and Technology, 500 Global, the world's leading accelerator, is launching a new wave of acceleration programs in the region. Registration for the new program stream has already started and will continue until September 5. Central Eurasian startups at the Pre-Series A stage may participate in this event.
The main goal of 500 Global, which is being implemented in the region under the name 500Georgia, is to strengthen Georgia's startup ecosystem, develop investment potential and scale up startup companies in the global market.
Just a few days ago a four-year cooperation agreement was signed between the Bank of Georgia, 500 Global and the Agency for Innovation and Technology. The programme provides for the retraining of start-ups in Georgia. Accordingly, over the next four years Georgian and regional startups will be given additional opportunities to develop and scale.
500 Global will run the acceleration programme twice a year and end with a demo day. Start-ups from all over the world will participate in an intensive training course, and the winner of each stream will participate in an international programme organised by 500 Global.
"500 Global is a unique opportunity for local startups to develop their operations with leading global mentors. The first two streams of the acceleration programme were a great success for the region's ecosystem. I'm confident that this partnership will help startups take advantage of new opportunities. in global markets and move to a new stage of development," – said Bank of Georgia CEO Archil Gachechiladze.
Thus, 500 Global Venture Platform came to Georgia back in 2020 at the initiative of the Agency for Innovation and Technology (GITA) of the Ministry of Economy and Sustainable Development and with the support of the Bank of Georgia.
Between 2020-2021, 500 Global conducted two acceleration programmes in Georgia for 30 Georgian and international technology startups. Four of them – CARDEAL, Cargon, Payze and Agrolabs – travelled to Silicon Valley to participate in the final component of the programme, which gave the startups a unique opportunity to make new contacts and network with potential investors. 500 Global has also fostered local start-ups and their entry into foreign markets. After the programme ended, many of them expanded and started operating in different countries around the world, including Ukraine, Uzbekistan and India.
500 Global is a global venture capital firm founded in 2010 that invests in early-stage, high-growth technology startups. Since its inception, 500 Global has backed more than 5,000 founders of more than 2,600 companies in 81 countries. Its portfolio includes 45 companies worth $1 billion and more than 130 companies worth more than $100 million. 500 Global works closely with stakeholders and advises governments and corporations on creating entrepreneurial ecosystems for rapid startup growth.
Deadline: 5 September