The Startup Ecosystem of Georgia

Georgia has 1 city in the top 1000 and is ranked 18th in Eastern Europe.


Georgia’s startup scene saw an increase in 2023 and jumped 2 spots from the previous year, outranking Costa Rica.



Regional Ranking

In Eastern Europe

Global Ranking



Startup Ecosystem Overview

city with high-rise buildings under orange skies
Georgia provides a good model for an open and transparent economy in Central Asia. The Ministry of Economy and Sustainable Development is focused on supporting startup ecosystem development, especially through its subdivision Georgia’s Innovation and Technology Agency (GITA). Startup Georgia is a good example of an active organization pushing the local ecosystem forward. Some initiatives of the organization include pre-acceleration and acceleration programs, bootcamps and community events for startups and investors.

Furthermore, Startup Georgia continuously gathers data about investments, fundings, failures and exits of Georgian tech startups to showcase the state of the ecosystem in a reliable way. Several innovative centers and laboratories have opened in the country, as well as more than twenty Fab-Labs. There are several business support platforms and organizations, such as Startup Factory by the University of Georgia, Batumi Business incubator (Batumi is the administrative centre of the Adjara republic, a Georgian autonomy), and Startup Grind Tbilisi. Another hub that supports the business environment for entrepreneurs is the new Centre of Entrepreneurship by the International Chamber of Commerce.

Notable accelerator programs and coworking spaces include Impact Hub in Tbilisi, FasterCapital (a branch of an international online incubator and accelerator), and the acceleration program 500 Startups, launched with the support of the World Bank.

Georgia is also becoming increasingly popular with expats and digital nomads, which will add to its future knowledge base and talent pool.

Georgia benefits from same day registration for business and startup friendly tax laws. The country is affordable and accessible, with low labor costs and market access to Europe. More than 60% of the country’s population is English speaking.

The main challenges of Georgia’s startup ecosystem are a lack of experienced entrepreneurs and a small consumer market. A small market is expected from a country with such a small population, and pushes local entrepreneurs towards the global market. There is also less access to financial capital from both foreign and domestic investors. Startups mostly receive funding from state programs and competitions, and different banks have their own investing programs.

Georgia’s startup ecosystems have been very active with all the supporting initiatives implemented in the country, which helps young entrepreneurs develop and launch their innovative business ideas. The next phase will require results on the ground, which will have to be produced by Georgia’s entrepreneurs.


Georgia Top Startup Industries

Fintech icon
#60 worldwide

16 startups

Software & Data icon
Software & Data
#65 worldwide

11 startups

Transportation icon
5 startups

5 startups

Ecosystem HealthCheck

Georgia Ecosystem Health Check

The health check tables allow you to look at the performance Georgia has in each of the parameters that are part of StartupBlink's ranking algorithm. There are five tables, corresponding to the three subscores, the subscore analysis and industry ana...

  • Overperformance
  • Performance equal to global ranking
  • Underperformance
ParameterParameter Global rankParameter rank change since 2022ResultContribution to total scoreRank gain / loss due to parameter
Total Score7121.054100%0
Quantity Score6750.36234.35%0
Sample size of startups8534531.1%2
Sample size of accelerators88-1330%3
Sample size of coworking spaces86-8270%4
Community Score34N/A0.0343.26%0


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The Startup Ecosystem in Georgia

In 2023, Georgia register a rise in Fintech startups. Some of the most notable success stories in this industry are those of , PAYZE.

Global Rank

Georgia is ranked within the top 100 startup ecosystems globally.

Top Industries

Georgia’s startup scene is best represented in Fintech, Software & Data, and in and Transportation.

Top Cities for Startups in Georgia - Ranked by StartupBlink
StartupBlink ranks the startup ecosystems of 100 countries and 1,000 cities. Download our latest Global Startup Ecosystem Report.
2023 National Rank & Change ▲
2023 National Rank & Change City
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Global Rank & ChangeTotal Score
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Notable Startups in Georgia
PAYZE startup icon
Cargon startup icon
Cargon startup icon


Successful Fintech startups in Georgia
PAYZE startup icon
PAYZE startup icon
Humanode startup icon

Featured Startup Ecosystems

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