What is GIST Innovates South Caucasus?
GIST Innovates South Caucasus was an eight-week pre-accelerator training program modeled after the Lean Startup methodology. Teams were coached about how to apply the Lean Startup entrepreneurship methodology and how to do effective customer discovery for problem/solution fit of participants’ ideas. By the end of the program, teams had completed at least 40 interviews with target customers, gaining valuable insight on how to shape their product for maximum impact. The program provided innovators with the training, mentoring, and resources they need to build their entrepreneurial skills and bring their ideas to market. The program also provided opportunities for teams to connect with local and US mentors and provided opportunities to interact with innovators from around the region.
At the end of the training, teams had an opportunity to pitch their ideas to investors and ecosystem partners at a Demo Day. Read more about the importance of this region and the teams that participated here.
Important Dates
20 teams (2 members per team) were accepted for this program. Events included:
- A two day, in-person opening workshop in Tbilisi
- Six weeks of virtual coursework and guided study to accelerate startup development
- A two day, in person closing workshop and demo day
GIST Innovates Successes
Vamekh Kherkheulidze of Elven Technologies
Elven Technologies is a high-tech personal protection equipment (PPE) company. Our first product is a technologically-advanced full body fire-proof suit with a cooling system to keep firefighters safe in the line of duty and help save lives.
Nataliya Limonova of GIOS
GIOS is designing an interactive platform for the delivery of remote and blended learning. In addition to keeping students engaged in the educational process, the platform aims to support teachers in organizing remote and hybrid teaching by providing them with a flexible course builder, interactive material library, assessment, and analytics.
Djordje Dimitrijevic of SignAvatar
"As a Balkan startup, you might think that having cool technology is enough. But as a GIST Innovates the Balkans alum, I discovered the real key is understanding your buyer. Through customer interviews, you'll learn how to position your business to meet customer needs. This program marries Balkan creativity with American business strategies, helping you fine-tune your ideas and truly connect with your target market. And along the way, you'll also make some great friends."
Nina Levikj of Brummell
In the U.S. nearly 5k motorcyclists die annually for not wearing suitable motorcycle gear. The Brummell Blazer is a perfectly engineered piece of equipment that looks like an elegant blazer from the outside, but has the same features of a motorcycle jacket from the inside.
About the Implementer
GIST Innovates is administered by VentureWell. VentureWell is a nonprofit organization with a mission to cultivate a diverse pipeline of inventors, innovators, and entrepreneurs driven to solve the world’s biggest challenges and create lasting impact. In 27 years, VentureWell has helped bring scientific and technological advancements in the fields of energy, agriculture, water, environment, and healthcare to millions of people in more than 90 countries. 15,000 innovators have been trained and supported by VentureWell, who have created over 3,000 businesses that have gone on to raise over $3.5B in private and public investments. VentureWell’s large network of partners span the fields of higher education, research, government, and industry, and includes many leading private and public partners including the National Science Foundation (NSF), the National Institutes of Health (NIH), the United States Agency for International Development (USAID), the Department of State (DOS), The Lemelson Foundation, and the Bill & Melinda Gates Foundation.