Crowdfunding Association was Founded in Georgia
For the development of the startup ecosystem, establishing a crowdfunding system is an important component as it creates a new and unique alternative funding source for startups. For this very purpose, Mariam Mirotadze recently founded the Crowdfunding Association of Georgia, the purpose of which is to develop the crowdfunding ecosystem, interest foreign investors, work on legislative initiatives and develop the industry together with industry specialists.
The association will work in the direction of financing startups, social enterprises and social projects. The new initiative will support the development of reward, equity, loan and donation based methods of crowdfunding.
"Unfortunately, there are almost no such crowdfunding platforms in Georgia, through which it is possible to attract investments for startups. The reason is the strict requirements of the law on securities - regulations, including legislative and fiscal uncertainties. Of course, in order to correct the existing problem, the association will work On the legislative initiative, in which direction certain steps have already been taken on our part.
The main goal of the association will be the development of the industry together with the specialists of the relevant field and the implementation of the necessary mechanisms for it. Unification of an interested person or organization working in the field, in order to develop the crowdfunding mechanism together; Regulation and Governance in Digital Finance; Cooperation, communication and their development between crowdfunding platforms; Improving the ecosystem of philanthropy and others", Mariam Mirotadze notes in a conversation with Entrepreneur.
As for future goals, in partnership with international donors, the association will implement several important programs from 2023. Among them, a new, unique platform will be created, which will be a big step forward in introducing new sources of financing. The organization will share information about this and other important news with interested persons at the beginning of next year.