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Fund Startup Angels to Finance Innovative Startups

Former head of innovations and technology agency Giorgi Zviadadze will finance innovative startups from the newly founded fund “Startup Angels”.

“There are a lot of interesting startups in Georgia, such as biotechnology, cyber security, where 100 000 vacant places are currently in the world and nobody is filling in. The main problem in our country is that they do not have money. I used to tend to invest in them during my time at the agency. Now, I will have an opportunity for that unlike public sector.

Our Angel Investor’s fund will start to operate with 1 million GEL. We are researching the market and I hope it will be established soon. There is no law for capital markets, which is disturbing factor for venture and angel foundations to enter Georgia, although, government is working on this issue as far as I know,”- said Giorgi Zviadadze at BM.
Giorgi Zviadadze recalled head of Innovation and Technology Agency today.