What is GIST Innovates South Caucasus?
GIST Innovates South Caucasus is an 8 week program of accelerated, intensive training in the Lean Startup process. The program focuses on using agile customer discovery to identify and evaluate scalable opportunities, allowing participants to make informed decisions on the best approach for moving forward with commercialization of their innovation. Through the training, participants will be encouraged to engage with and understand the perspectives of potential customers in order to apply customer insights to the design of a product and/or business model.
The program is geared towards entrepreneurs that have achieved a proof of concept, but have little to no revenue (less than $100k), and are still defining their value proposition or refining their product/service.
Read about the 2024 Innovates South Caucasus program here.
Important Dates
Application Acceptance: 11 November, 2024 - 7 February, 2025
Expert Panel Review & Selection: 15 February, 2025 - 28 February, 2025
Program Open (in-person): 11 April, 2025 - 12 April, 2025
Virtual Program: 13 April, 2025 - 28 May, 2025
In Person Close & Demo Day: 29 May, 2025 - 30 May, 2025
Requirements
Selected participants will be expected to attend:
- 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
Eligibility Summary
- The applicant must:
- Be a citizen of: Armenia, Azerbaijan, or Georgia
- Be the founder of a science/technology startup with operations in Armenia, Azerbaijan, or Georgia
- Be between the age of 18-40 years old
- Submit a complete application
Full list of eligibility requirements can be found here. There is no cost for selected participants.
Benefits of Attending
-Comprehensive training and support to accelerate their growth and pathway to commercialization
-Access to experienced business mentors, both instructors experienced in the region as well as leading U.S.-based venture development experts
-Modest travel stipend for participants traveling to Tbilisi
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.