WP 1. ACCESS TO FINANCE

Seed Forum Process

The project goal (result indicator) is to run 4 Seed Forum Events. ACCESS Georgia supported organization, implementation and adequate follow up of two Seed Forum events in Tbilisi.

1st Seed Forum process November-December 2015

The first Seed Forum Pitch Training was held on 14 December 2015. There was a great interest of startups and entrepreneurs. Participants were all young people between 18-28 years old. Among them one company is owned by 3 women (age 18-19), and other four are co-owned by women.

On 16 December 2015 the first Seed Forum Conference was held in Tbilisi. The Ambassador of Norway, HE Bård Ivar Svendsen, gave the opening remarks in the forum and hosted Seed Forum evening reception. In total more then 60 participants took part at the Conference.

Signing ceremony of Memorandum of Cooperation between Seed Forum Foundation, and Georgian Investment and Technology Agency was done under the patronage of HE Ambassador of Norway.

2nd Seed Forum process: April -May 2016

The second Seed Forum Pitch Training was held on 21 May 2016. In total XX companies took part and XX companies were selected for further process. On 24 May 2015, the second Seed Forum Conference was held in iHUB premises in Tbilisi. Companies from Georgia, Armenia and Azerbaijan presented their investment cases.

3rd Seed Forum process: November-December 2016

In total 35 companies were nominated for the Seed Forum process. Project team selected the best 12 companies that took part at the Pitch Training organized on 12 December 2016. The best 10 companies were selected for further process.

The third SF Conference was organized in the premises of the National Georgian Library on 14 December 2016. The speakers at the Conference were: Vegard G. Stensrud,Deputy Head of Mission Royal Norwegian Embassy Baku; Maia Melikidze, Advisor to the President of Georgia; Vazsha Menabde, Director of Startup Georgia; Avtandil Abesadze, Chariman of Georgias`s Innovation and Technology Agency; Chairman at International Chamber of Commerce in Georgia; Sandro Vepkhvadze, Head of Business Department of Maestro TV; Dimitri Podoliev, Chairman of Seed Forum Eastern Europe Foundation; Ilia Ghlonti, Chairman of Seed Forum Georgia Foundation.

Establish MBAN

Database of investors in Georgia has been prepared. It contains 220 contacts. It will be further upgraded. In parallel, the team is preparing the database of start-ups and growing companies that are considered successful leaders of the business community in Georgia.

Feasibility Study Venture Capital Development in Georgia

The main objective of the Feasibility Study for Setting up and Developing Argentum like Fund in Georgia (Study) is to establish an overview and analysis of the access to finance for SMEs in Georgia and specifically, to explore the feasibility of setting up and operating Investment Fund in Georgia based on the model of the Norwegian Argentum Fund that operates in the Nordic markets. This study will be used as one of the decision making tools for the decision makers and investors in Georgia, Norway or other countries to consider to setup similar operations in Georgia. The Study has been prepared.