Posted: 1 year ago

500 Global Launches Fourth Stream Acceleration Program

Silicon Valley-based venture capital firm 500 Global has announced the launch of its fourth stream acceleration program, in partnership with the Bank of Georgia and the Georgia Innovation and Technology Agency. This year, startups from 40 countries applied to participate in the program, and after a rigorous selection process, 12 companies were chosen to undergo the 12-week acceleration program.

The selected startups represent seven different countries in the Eastern Europe, Caucasus, and Central Asia (EECCA) region, including Georgia, Ukraine, Azerbaijan, Armenia, Great Britain, America, Uzbekistan, Baltic and Balkan countries. The companies selected to participate in the program are Arena Games, Bilimber, DataMind, Dealpad, Deskntea, Emonomy, Fortu Wealth, Glorri, Murmur, OneApp, Squares, and Uteach.

Throughout the acceleration program, participants will have access to 500 Global's investment expertise and gain knowledge from international partners, in addition to working with international mentors and experts on business development and financing strategies.

500 Global's partnership with the Innovation and Technology Agency of Georgia and the Bank of Georgia was first established in 2020, and a four-year partnership was signed between the parties in 2022. As part of this partnership, 500 Georgia will conduct two investment acceleration programs per year for the next four years to support startups from Georgia and the EECCA region.

500 Global is a global venture capital firm with $2.8 billion in assets under management. The firm invests in startups that create fast-growing technology companies and has supported over 5,000 founders and more than 2,800 companies from 80+ countries to date. Its portfolio includes more than 50 companies valued at over $1 billion and 150+ companies valued at over $100 million.

The selected startups represent a diverse range of industries and services, including a Web 3.0 gaming platform, a private banking platform catering to High Net Worth Individuals (HNWI), and an online platform that helps users learn music and conduct lessons.