For some time, Shadow Foundr has been exploring opportunities in the fast evolving startup ecosystem in Eastern Europe, particularly, in Georgia. Many of today’s established disruptive tech companies have Eastern European roots, and with limited resources were able to achieve the unicorn status.
During the last 5 years, promising startups have sprung up from Georgia, however, the lack of early stage financing options hinders their future prospects. The abundance of government grants helps Georgian startups to bring their ideas to a fruition and achieve that necessary initial traction, however, solely grant funding it is not a sustainable way to scale companies. This is where Shadow Foundr’s early stage equity funding experience and expertise can be useful.
Following the introduction from one of our shareholders to the Startup Grind Georgia chapter directors, we established excellent connections to the Georgian startup scene and had numerous constructive conversations about Shadow Foundr’s possibilities in Georgia. Being introduced to the Georgian companies, we had the opportunity to meet them in person and evaluate their appeal to private investors.
Next week, some members of our team will be attending Startup Grind Europe in London. This is a good opportunity to get to know emerging European startups and network with fellow investors. There, we will meet this year’s cohort of startups from Georgia and discuss ways to bring these opportunities to UK investors. Afterwards, we have been invited to the reception at the Georgian embassy to contribute to the discussion about new stepping stones for startups in Georgia.