Access to Finance in Georgia – ACCESS

Project goal is to contribute to creation of born global growth companies in Georgia and furhter facilitate their access to finance.

Project has 3 WPs:

WP1. Access to Finance

  • Establish two SF processes per year
  • Develop of a Business Angel Network system
  • Preparation of the Feasibility Study on establishing and developing venture capital markets in Georgia

WP2. Seed Forum iHUB Tbilisi – in order to increase competitiveness of existing companies the project will set up and develop the iHUB in Tbilisi.

WP3. Internationalisation of startups – for the most promising and advanced eight Georgian companies that go through the Seed Forum process, the project team will facilitate their presentation at the other international SF Investor Conference(s).

The project has the following main target groups:

  • Newly started companies with the need to get connected to professional networks, potential partners, markets, investors.
  • Entrepreneurs and SMEs with ambitions of starting or developing commercial technology companies.
  • Established SMEs with ambition for the internationalisation of business activities.
  • Norwegian Innovation Network players interested in the Georgian innovation potential and partnership opportunities.
  • Norwegian and international private sector players interested in cooperation opportunities with Georgian private sector players.
  • Georgian State/Municipal Institutions and Chambers responsible for supporting innovation and SMEs on the regional level.
  • Georgian professionals with the ambition to lead Innovation infrastructure – future iHUBs and Technology Park managers.

 

How ACCESS Georgia address the Norwegian priorities and Georgian needs:

Norwegian priorities for Georgia Georgian needs and the Access to Finance solution
Entrepreneurship Establish and operate innovation centre (iHUB) supporting young entrepreneurs in Tbilisi
Private Sector Development Support establishment and development of start-ups in the new economy
Strengthening Competitiveness Coach local start-ups with growth potential to go international
Gender issue Minimum 40% of the entrepreneurs getting support should be females
Bilateral relations Partnering between Georgian and Norwegian start-ups, with guest-office opportunities in iHUB Tbilisi
Capacity Building

(hjelp til selvhelp)

·       Recruit and train local young iHUB managers from day one

·       Offer tailor-made training and coaching to entrepreneurs inside and outside the iHUBs

Efficiency and Reforms Through Public-Private Partnerships (PPP) establish independent iHUB
Good Governance

(godt styresett)

Transparent management model and anti-corruption guidelines and procedures

 

Project duration is August 2015-September 2017

 

Project is implemented by:

SFN

Project funded by:

 

nmfa