Tech Startup STYX Wins Seedstars Tbilisi 2018

STYX a tech company from Georgia won Seedstars startup competition on May 29. Ten best startups from Tbilisi were invited to pitch in front of an investment panel and compete to be crowned the most promising seed-stage startup of Seedstars Tbilisi 2018 in Tech Park.

STYX is a tech-enabled logistic company that instantly connects shippers with carriers via mobile app and SAAS platform. “We found the way that help carriers grow their businesses on their own terms. Shippers do not get inflated prices and can track their freight 24/7”. Using STYX website and app is free for everyone, company only charges carriers when they earn money.

STYX does not participate in pricing. The startup will join the global Seedstars Family and take part in the regional and global Seedstars Summits that include our tried and tested bootcamp and investor forum. It’s a catalytic platform for high growth emerging market startups. and took third and second places respectively.


BUSINESS GEORGIA is a media partner of Seedstars startup competition.



Seedstars Tbilisi 2018 to be held on May 29 in Tech Park

BUSINESS GEORGIA as a media partner of the Seedstars 2018, is ready to support all startups in Georgia by spreading information for developing local business activities.


Alliance Group Holding Extends 3-year Contract with Seedstars and on May 29 the 10 best startups from Tbilisi will be invited to pitch in front of an investment panel and compete to be crowned the most promising seed-stage startup of Seedstars Tbilisi 2018 in Tech Park.

The winning startup will join the global Seedstars Family and take part in the regional and global Seedstars Summits that include our tried and tested bootcamp and investor forum. It’s a catalytic platform for high growth emerging market startups.

In addition to seeing the top startups pitch, you can look forward to an event filled with disruptive tech, inspirational discussions, networking sessions and one flight ticket for the winner to come to Switzerland to compete for over $1mn in investment.

“Today’s innovative ideas lead to revolutionary development of different sectors of the companies. The countries that have such innovative companies created and the adequate environment of development, are significantly more competitive. This is the main advantage of developed countries. Georgia should be actively involved in these processes, to draw and quickly adopt other countries well-tested and approved practice.” – Says Aieti Kukava, Executive Director of “Alliance Group Holding”.

To apply for the competition the startups need to be fluent in English and meet the following criteria:

  1. Be less than 2 years old
  2. Have raised less than USD 500 000 of funding to date
  3. Have an MVP and have regional & global scalability potential

If you are relevant startup, join us and register:

To apply:

Invitation code: ssw-tbilisi-2018-af

Registration deadline: May 24  at 00:00.

Event Agenda

Last Year Participants


For more information please visit:




Screenshot (38)

Enguri River Dam soon to be a new tourism landmark of Georgia

In 5 years, Georgia will offer to the local and international visitors the Enguri River dam, which is planned to become a unique tourist zone, making it a Georgian tourism landmark.

In 2015 the Enguri Hydro Power Plant’s arched dam, located in Georgia’s northwestern town Jvari, is being added to the country’s list of most distinguished cultural heritage sites. It has officially granted the status of National Monument.

The Enguri arched dam is the world’s second highest concrete arch dam, reaching 271.5 meters high and 728 meters wide, which is jointly operated by Georgia and breakaway Abkhazia as it lies on the Enguri River that separates the two areas.

The construction of the Enguri dam began in 1961 and completed in 1977, which was actually initiated before World War I by Georgian public figure Niko Nikoladze.

Including a specially created mix of concrete building material the building was the largest arched hydroelectric dam in the world till the construction began of a larger dam project in China in 2012.

The Enguri Power Plant is built on an area of nearly 1,000 km2, from Jvari town to the Black Sea. The electricity generated by the dam goes into grids in Abkhazia and it also provides nearly half of Georgia’s hydro energy.

The Ministry of Energy, Ministry of Culture and Engurhesi Ltd are jointly supporting the implementation of this project. The total investment cost of the construction is around 50 million GEL.

The tourist zone will cover 157 hectares and it will include a scientific center, open concert space and components for extreme sport. It will be a first industrial monument in Georgia, where a museum and media center will be built, with plans in place to install high lookout spots so that visitors can see a panoramic view of the surrounding area.

Tourists can soon venture deep into the dam via 280 meters’ elevator, to discover some parts that were previously open only for workers. According to the calculations, the tourist zone will host about 400,000 tourists yearly.





Source: /


Magic of Advertising

Magic of Advertising


Every year, more than USD 500 billion is spent on advertising worldwide. Many researchers believe that the most powerful form of art is advertising as, for many people, an advertisement is an important part of marketing which directly serves business interests and contributes to their development.

Many years have passed since the creation of the very first advertising slogan. With time, the new environment has created new technologies which have meant that new requirements have also emerged in the market. According to experts, advertising space in the 21st century is focused on being much closer to potential customers which involves an in-depth study of their interest and tastes while striving for their maximal involvement with an immediate impression of brand experiences. Also with time, technologies for creating advertisments have changed as well alongside changes in the tempo of modern life and living which have created new directions in advertising.

Nowadays, creators of advertisements are facing great challenges. Modern technology helps them study a customer’s biography, age, gender, experience and social activities in order to find out the brands he prefers, the frequency of visiting particular websites and so on… What remains unchanged is the fact that business without advertisement is rarely successful.

“Stopping advertising to save money is like stopping your watch to save time” – Henry Ford


How advertising helps business?

  • Sales – advertisements are often guarantees of sales. They provide potential customers with information about the company’s products or services.
  • News – it offers a specific advertising message and provides information about discounts as well as special offers, for example.
  • Activity – advertisements often help businesses inform potential customers about what they are doing.
  • Emotional dependence – Through advertising, it is possible to change people’s attitudes toward a product and break stereotypes or even change a person’s worldviews.
  • Positioning – to define a place in a special market.
  • Competitiveness – Healthy competition with others and the chance to earn more benefits.


In Georgia, the first printed advertisement appeared in 1861 and the first television advertisement was shown in 1950. Billboard advertising came after. Advertising campaigns became a strategic part for every business, a great many advertising agencies opened and the demand for their services increased. Nowadays, one of the stimuli for the promotion and development of the advertising sphere is the Cannes Lions creative festival. Business Georgia is interested in what is happening in the field of advertising and interviewed a representative of the festival, Ako Akhalaia.


What contribution does the advertising festival make for a country’s development?

For today’s situation, it is the world’s most prestigious festival for creative industries. It is called a world championship and is recognized the world over. Nowadays, creative industries play an important role with their creative people working within and whose vision and abilities are able to create wealth or financial income. As for Georgian designers, producers, copywriters, art directors and innovators, receiving orders from foreign clients is important as this underlines their abilities, especially when their work appears in such festivals such as the Cannes Lion. This festival promotes competition among advertising agencies within our country and awareness is raised beyond our borders and this is something which contributes to Georgia’s economic development.

Is Georgian advertising changing as compared to previous years?

The advertising market is developing in many directions and we are trying to keep the pace with global challenges. A clear example is that in previous years there were a few advertising agencies but nowadays we have 20. If Georgian brands appear in advertisements outside of the country, this means that the demand for Georgian advertising agencies is greater today. As for technology, we are slightly behind as compared to other countries because we are mostly oriented toward traditional advertising.

What is the main problem in this sphere?

There was a big problem concerning advertising attitudes but this is slowly disappearing. If earlier businessmen were less aware of the role of marketing and advertising agencies, nowadays they believe that the idea and the concept are worth paying money for. Other major problems are found in the lack of professional staff. This sphere needs experienced people who can work effectively and make sure they are constantly developing than those who are self-taught.

Is there any mechanism to control advertising (content)?

Georgia has a law on advertising. It governs the legal relations involved in the production, placement and dissemination of advertisements on the commodity (works and services) and financial markets (including the securities market) of Georgia. But on the other hand, advertisement is a creative product which can be compared to the human body, let us say, which loves freedom and may be effected badly by any sort of restriction. The customers themselves should decide to like or not to like any specific advertisement.

Which project has been the best since 2016?

I can name the Techno Park, Bank of Georgia and TBC Bank advertising campaigns. Some of the best were the Leavingstone project, “ikanos” commercials, whose video director was Giorgi Popiashvili. I can also name the Natakhtari beer advertisement called “Limitless Friends” which was created by the Leavingstone and Film Asylum team. It is first Georgian advertisement which was shot in Tbilisi and Sokhumi.

Eka Kipiani is one of the most successful creative directors in Georgia. She is a representative of the JWT Metro advertising agency whose list of advertising campaigns is quite long.

We interviewed Eka Kipiani and she gave us some useful tips.

What impact does modern technology have on advertising?

Advertising space is not only video advertisement. Communication is the main idea. All of the new methods that are created are important. We can use any innovative method in advertising such as, for example, graphic space, animation or even something new in technical aspects in programming. Nowadays, virtual realities are mostly used in advertisements such as (Augmented Reality) Pokémon Go which is a reality game. This means that the application takes this world in which we live and adds a new virtual layer. It is a new layer added to our world by Smart phones. It is a part of the Pokémon franchise created by Nintendo in 1996. After the game was released, company’s market value increased by USD 9 billion.

In addition to technology, what other changes are taking place in the field of advertising and what is happening on the Georgian market?

With the help of technology, communication is changing and people have other needs. Nowadays, brand price and popularity is less important. The cost or how much something addresses the world’s problems are more important. Advertising has a connection with people and is involved in a variety of aspects of civil activism. The advertisement has acquired a general liability function.

However, the main problem is to work out a bold strategy and brand quality. Customers should pay more attention to branding. – as to export good product is simpler, our main problem is that we mostly are working on standard brand strategies. As well, we do not have a database, according to this client can decide. Research is rarely done. The other side of this is the lack of resources. It is impossible to pay staff accordingly when you have a small budget.

Which advertisements or advertising agency is the best on the international market?

From year to year, attitudes toward agencies change. However, the  droga5 agency remains our favorite. There is also an independent video called “Do Not Read” and another one of my favorite advertisements is “Under Armour | Rule Yourself | by Michael Phelps casting as well as advertising by Harvey Nichols.

During the interviews, we learned that modern Georgian advertisements are mostly video types followed by print advertisements although less attention is paid to the print format. Creative advertising agencies try to make an impact on their customers and establish emotional contact which is a very good strategy because

“They may forget what you said — but they will never forget how you made them feel.” These words belong to Carl W. Buechner

The First Innovative Region of Georgia

The First Innovative Region of Georgia

The role of technology parks in the country’s economic development is huge. Georgia has become a country that is actively involved in the creation of “knowledge economy” .

The establishment of science parks was inspired by the idea of creating optimal growth conditions for business and innovation, to support collaboration between entrepreneurs and science communities. The history of science parks goes back to the 1950s, when the first science park was established at the Stanford University in the US.  The subsequent pioneering enterprises included the Cambridge Science Park in Great Britain and the Sophia Antipolis Science Park in France, created over a decade later. The concept of science parks gained new currency first in highly-developed European countries in the 1970s and later in the dynamically growing Asian economies in the late eighties and early nineties of the twentieth century. Today there are thousands of institutions using the title of a science or technology park or a variant of this name.

In the Modern economy, technology is the basis on which can be constructed any human labor and technology development and it has so great effect, that without it is almost impossible to gain a competitive advantage in the modern economic systems.

Tech parks provides access to different types of high-tech facilities for developing start-up companies, stimulates and manages connection between staff or experts for implementing project.

Georgia’s first technology park was opened in January 2016 in Tbilisi, which was financed by “Innovation and Technology Agency”. In Zugdidi second technology park was built in October 2016. opened in the Zugdidi Presidential residence. To get detail information, Business Georgia interviewed Kesaria Tsulaia – head of marketing department of Zugdidi Branch.

 What is Zugdidi techno park? visions and benefits?

The purpose of opening a Technology Park in Zugdidi is to create optimal growth conditions for business and innovation in region, help local population to develop their activities and attract foreign investments for their own projects.

Tech Park is equipped with technologies and representatives of small business have the opportunity to produce their products.  Startups can create prototypes of their products or work with the beta version. Also, in our base are hold a training about various topics. Everyone can attend on seminars or enrolled web development courses without charge.

How is arranged Zugdidi techno park space? how is equipped and differs from Tbilisi Tech Park?

○ The planning and design of techno park create comfortable and productive environment for visitors

Our conference hall is for 100 people, distance learning room allows startups to contact with their mentors and investors, in this working space they can work on their ideas, in the computer lab, the Applicants enrolled web development courses. Robotics and Maker Space, Lego MINDSTORM EV3 robots, with little bits- especially are popular among students. We can use Fablab- apparatus for laser cutting / engraving, three-dimensional scanning, three-dimensional printing, vacuum forming, by using CNC tool we can do three-dimensional wood and metal reliefhigh-quality printing on any material flat surface with Mimak-‘s machine, fully automatic embroidery machine and printed cards prototyping. It is also possible to consult with the staff, you can have enrolled some courses after which the person has the knowledge and experience of working with these devices.

How Tech parks helps innovators and how often this place is visited?

○ Representatives of small business permanently use Tech Park Services, produce and accomplish their products by using this work-space. Our high-tech equipment helps them to fulfill their plan.  Fablab-‘s mostly visit teens and young adults. Visitor Age is not limited. It should be noted that the small entrepreneurs not only use the equipment, they also actively use our consulting services, receive advice about planning and construction of their projects.

Why should be the development of innovation priority for the country’s economy?

○ It is common knowledge how big, positive changes brought revolution in the 18th century and digital revolution from the late 20th century. Each of these events have impacted on world economy and each countries’ economy as well. In the development formula, innovations are directly proportional to the rate of progress, it plays the most importance role cultural technological and economic development of society.

What can you say about planned events and programs?

○ In Zugdidi tech park constantly held small events, info tours and courses. Most large-scale event, was “architectural installations makeathon”, where eight teams (30 people) took part from all over Georgia. For the future are planned many hackathon, makeathon and createthon. We also want to highlight game development- and organize different events and competition about it.

Nowadays Zugdidi techno park is actively working on startup ideas, we are receiving business incubator and form March we will start one-year incubation program.

Business Georgia continues cooperation with Tbilisi and Zugdidi Tech Park, as our main goal as a media company is to support the business in Georgia.


20 Winners of Start-Up Georgia are already known!

Start-up Georgia, a Government-initiated competition to find the best new business ideas, has selected 20 winners who will each receive 100,000 GEL to bring their idea to life.

Business experts from Silicon Valley in the United States (US) and local representatives revealed the 20 finalists as the best of the best who had entered the competition.

All of the 20 finalists will receive 100,000 GEL to launch their innovative businesses in Georgia.

The competition attracted 726 applications of new business ideas. Of this 580 proposals were submitted as innovative ideas while 146 were regarded as high technology businesses.

Among the winners are: Bubblestack, Cnick, David OS, Edvex, Hand4help, Health Hub, Innophage, Laser Combat, Lingwing, LuckStock, OptioAIl, PawwwN, Production of Verm Protein, Qolga, QuickQash, Styx, Surgical OR Simulator, Triplay, VRex, WiseKettle

With the help of the experts from successful businesses in Silicon Valley, the best 51 business ideas were selected in the first stage of the competition and those behind these 51 ideas took part in a five-day training program led by the US Silicon Valley experts.

The Government established an initial fund of 11 million GEL (about $5 million/€4.19 million*) that will be shared between chosen business projects, however the amount of funds available is set to increase to 35 million GEL.


Ammonia export terminal will be built on the Black Sea

Ammonia export terminal will be built on the Black Sea, – the Prime Minister Giorgi Kvirikashvili indicated after the ceremony of signing an agreement that provides for allocation of financial aid in an amount of 155 million USD by the European Bank for Reconstruction and Development (EBRD) to the company “Rustavi Azot”.

“Partnership Fund” has taken preliminary measures to implement the project.

In addition, funding received from EBRD will be utilized by “Rustavi Azot” to include new components in the circuit of ammonia production. At the same time, full modernization of the factory of “Rustavi Azot” that was built many years ago as well as switching to completely modern standards is ongoing.

According to Prime Minister, this is a complex project, which will begin with 155 million, but its scale is much bigger.

“This is an unprecedented transaction in the private sector. EBRD Regional Director for Caucasus, Moldova and Belarus Bruno Balvanera indicated that amount of funds invested till July 2016 by the EBRD is three times higher than the investments undertaken throughout 2015. This is the indication of the development and engagement of the international financial sector. Additional jobs will be created, thus increasing the country’s export potential and strengthening national currency – this is very important. Also, this technology is e compatible with all environment protection standards”, – Giorgi Kvirikashvili indicated.


Secret of Start-up Success

IHUB Tbilisi is a center of innovative technologies and entrepreneurs established in Georgia. The center provides common working space and technical equipment, as well as trainings, mast classes, individual mentoring and mechanism to financial access. The enlargement of the work space enabled the organization to hire new start-ups on board and offer above-mentioned services. IHUB Tbilisi, which is the regional center for entering international markets, was established in November 2015 by Seed Forum Foundation. Seed Forum is one of the leading investment organizations in the world, incorporating 46 countries. In line with the Seed Forum’s calendar, investment conferences are arranged twice per streaming film Colossal 2017

The first conference was arranged by IHUB Tbilisi in December 2015. This way the meeting between investors and start-ups was initiated. Six best companies were revealed during the conference. The winners got an opportunity to attend the same thematic meetings in five cities: Dubai, Oslo, Tallinn, Singapore and New-York.


MPOS System and Innovation Based Technologies

There is no exact data of mobile payments in Georgia yet. Meanwhile, we are witnessing a positive trend regarding the increase of  card payments. According to NBG data, ATM transactions in Georgia have shared 42% as of January 2016, down from 47% during the same period of the previous year. With 7, 405, 260 the number of debit cards is almost twice that of the Georgian population. Cashless payments on domestic market have totaled 4,974,783 units, worth GEL 172, 303, 000 as of January 2016.

MPOS is one of the most exciting developments in the payment’s industry, with more companies than ever using mobile devices as a point-of-sale device globally. Following Halyk Bank in Georgia, recently TBC Bank has announced the launch of mPOS, a new way of accepting payments specifically designed to support merchants’ growing use of mobile devices. Georgian banks continue to pioneer inno vation-led banking solutions and with mPOS, merchants of all sizes can now accept and process payments anytime, anywhere.




Is technological change creating a new global economy?

The unprecedented speed of change, as well as the breadth and the depth of many radical changes unleashed by new digital, robotic and 3D technologies, is having major impacts on what we produce and do, how and where we do it and indeed how we earn a living. And while the transformation will proceed differently in advanced and developing parts of the world, no country or market will be spared from the tidal wave of change.

As the World Economic Forum highlights annually in its Global Competitiveness Report, productivity is the most important determinant of long-term growth. Yet productivity growth has stagnated around the world, particularly since the great recession, putting into question our ability to provide rising living standards for the world’s citizens. While arguments abound as to what has been driving the productivity slowdown, an important question is how the Fourth Industrial Revolution will drive it in the years to come.

In theory, the application of new technologies to existing problems should improve efficiency and thus productivity. Technological innovations tend to raise labour productivity by allowing the existing workforce to do more with less, by replacing existing workers with technology (with an obvious downside, as I will come to later), and they also usher in new products and processes that open up new sources of growth.

Yet there is much debate on the likely size of the impact. On one hand, experts such as Robert Gordon of Northwestern University believe that the most important contributions of the digital revolution have already been made, and that the productivity impact of the current technological revolution is almost over. That would be worrisome indeed, particularly given the present slowdown.

On the other hand, “techno optimists” such as Eric Schmidt, the chairman of Google, believe that the world has reached an inflection point and will soon be experiencing faster growth and a major surge in productivity.

Given the speed and breadth of the changes now being unleashed, it is clear that new technologies will dramatically change the nature of work across all industries and occupations. And as automation will inevitably replace labour in providing existing goods and services, the main question is how long this will take and how far it will go.

It has always been the case that technological innovation destroys some jobs and replaces them in turn with new ones, in a different activity and possibly in a different place. As technological innovation forges ahead, one can expect that low-skill activities will be progressively replaced by tasks that require creativity and social intelligence. And as the job market becomes increasingly segregated into “low-skill/pay” and “high-skill/pay” segments, social tensions will inevitably rise.