Former head of the Technopark Giorgi Zviadadze told BM.ge that there was no legislation on capital markets in Georgia, so he founded the Startup Angels Club in Switzerland.
“Startup Angels” is a club in Switzerland with the main goal of financing startups. “Why Switzerland? Unfortunately, in Georgia, there is no legislation on capital markets, it’s very difficult to fund startup.
This funding for the startup is the income that should be taxed or a loan? Whatever type of investment we have, it’s hard for us to find the right form with the help of lawyers. So we decided to establish a club in Switzerland. Zurich has one of the best corporate laws, the whole world knows this and very large holdings and head offices are registered in Switzerland. We earned some capital and financed the first project.
We strive to cooperate within EU project – Euro to Euro Agreement. , “Giorgi Zviadadze said.