Sixth batch of 500 Global Accelerator Program kicks off in Georgia
500 Global, an early-stage venture fund and seed accelerator firm, in partnership with Georgia’s Innovation and Technology Agency (GITA), and Bank of Georgia, announced the sixth batch of 500 Global Accelerator Program in Eurasia, based in Georgia.
The program aims to find, select and accelerate startups with the highest potential across the Eurasia region. To date, the program has accelerated over 70 startups across five successful batches. GITA and Bank of Georgia will continue to play pivotal parts in the Program’s success as foundational partners of 500 Global’s regional efforts.
Pedro Santos Vieira, Partner, 500 Global in Eurasia: ''We started working with GITA many years ago to help set up the country as a regional entrepreneurship hub. To date we have trained in Georgia, more than 70 companies, stemming from 10 countries and brought in many speakers and members of the VC community from some of the top investment hubs in the world. 500 Georgia was the inception of 500 Global in Eurasia. This would not be possible without our close partnership with GITA and Bank of Georgia. While no changes will be made to our mandate, this renaming is a very important step forward in our mission to help build up the Georgian entrepreneurial ecosystem and uplift the regional economy.''
Avtandil Kasradze, Chairman, GITA: ''The rebranding is in tune with significant efforts of Government of Georgia and Georgia’s Innovation and Technology Agency to position Georgia as regional innovation hub which is further strengthened by recent government initiatives like introduction of ‘innovative startup’ status for the companies that, effective Jan 1, 2025 will enjoy 0% taxes for three years and ‘innovative SME’ status that will enjoy 500% tax credit or 30% cash back on qualified R&D expenses.''
In this sixth batch, 9 tech startups from 6 countries have been selected to participate in Batch 6 of the 500 Global Accelerator Program in Georgia. They will engage in 500 Global’s intensive course focused on customer development, growth marketing, and other essential business foundations. Within the Program, participants will participate in various sessions aimed at boosting key metrics critical for scaling and fundraising. Upon completion of the Program, the selected startups will present their companies on a Demo day.
The selected startups are:
- Clustr: A research-driven investment platform for web3 users, which builds an app that highlights the risks behind each coin and protects investors from scams. Specifically, Clustr connects to a wallet and helps users build balanced portfolios using actionable insights.
- YAYA: Gives users one pass for access to 250+ kids’ centers in Almaty. Convenience and variety in one space.
- Optimyzee: With automating complex PPC algorithms, the startup offers effective, accessible advertising solutions to its users.
- Raised: Raised is an AI-powered talent marketplace that connects companies with a new category of freelancers – part-time tech leaders.
- KatalistAI, Inc.: Katalist empowers enterprise communication by turning messages into videos using generative AI.
- TouchPoints: TouchPoints boosts DTC sales by turning Instagram reels into shoppable video widgets for Shopify stores.
- Helio.AI: It is an intelligent recruiting software that helps companies automate hiring and find the best candidate faster, with a game.
- Trag: Trag is an AI platform which puts software maintenance on autopilot.
- Hakawaji: Hakawaji is a screen-free sensory assistant that helps teachers, therapists and parents to break down communication barriers using music, lights, and storytelling. Set the ambiance in your educational or therapeutic space with your voice.
Levan Gomshiashvili, Chief Marketing, Digital and CX Officer, Bank of Georgia:''As a leading tech company in the country, Bank of Georgia is dedicated to fostering tech initiatives and nurturing the startup ecosystem in Georgia, with a vision to establish the country as a pivotal startup hub in the region. Our collaboration with 500 Global and GITA has been instrumental in driving this agenda forward. Over the years, within our partnership we have hosted 5 batches of the acceleration program, empowering Georgian and regional startups to flourish under the guidance of some of the top-tier mentors, explore new growth opportunities and become part of 500 Global’s startup network. Within our initiative, together with 500 Global, we have already trained 70 startups from 10 countries and we remain optimistic that 500 Global in Eurasia will continue to play a crucial role in this journey, propelling Georgia towards becoming the premier destination for promising startups, equipped with the essential resources, knowledge, and support for their growth.''
500 Global has been running the program in the region since 2020. Starting in 2022, as part of a four-year-long partnership agreement between 500 Global, Georgia’s Innovation and Technology Agency and Bank of Georgia, the 500 Global in Eurasia team has and will continue to run an accelerator program in Tbilisi, Georgia twice a year. Tech startups that have direct or indirect operations in the following countries can apply: Albania, Armenia, Azerbaijan, Bosnia & Herzegovina, Bulgaria, Croatia, Czechia (the Czech Republic), Estonia, Georgia, Greece (the Hellenic Republic), Hungary, Kazakhstan, Kyrgyzstan (the Kyrgyz Republic), Latvia, Lithuania, North Macedonia, Montenegro, Poland, Romania, Serbia, Slovakia (the Slovak Republic), Slovenia, Turkmenistan, Ukraine, Uzbekistan.
