NBG Supports First Regional Venture Investment Summit
National Bank of Georgia supported Central Eurasia Venture Summit, the first regional venture investment summit held in Georgia. The event held at the Sheraton Grand Tbilisi Metekhi Palace Hotel promotes the development of venture capital investment funds in Georgia and the countries of the region.
The participants of the panel discussion talked extensively about the opportunities and challenges that the startup ecosystem and venture capital funds are facing in the countries of the region today. NBG representative Ana Khinchiashvili, one of the members of the panel discussions, discussed the NBG reforms and reviewed the prospects for the development of the investment funds market. "Investment funds, especially venture capital funds, play an important role in supporting innovation and startup companies as an alternative source of financing. The sector of investment funds in Georgia is at an initial stage of development. The Law On Investment Funds was adopted in 2020, followed by 5 investment funds and 4 asset management companies licensed/registered by the NBG. "Operating through Georgia-based funds for investing in regional markets is one of the goals for the next stage of development of this sector in Georgia".
The organizers of the summit are the international company Future Laboratory and Central Eurasia Ventures. Supporters of the event include the International Telecommunication Union (ITU) and the US Agency for International Development (USAID). More than 20 regional venture funds from Turkey, Czech Republic, Kazakhstan, Uzbekistan, Great Britain, Armenia, Mongolia and other countries participated in the summit.
The summit was also attended by heads of regional innovation agencies, representatives of organizations focused on the development of the startup ecosystem, as well as independent investors and startups.