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![city with high-rise buildings under orange skies](https://images.unsplash.com/photo-1565008576549-57569a49371d?ixlib=rb-4.0.3&ixid=M3wxMjA3fDB8MHxzZWFyY2h8Mnx8dGJpbGlzaXxlbnwwfHwwfHx8MA%3D%3D&w=1000&q=80)
 
Georgia provides a good model for an open and transparent economy in CAREC. The Ministry of Economy and Sustainable Development is focused on supporting startup ecosystem development, especially through its subdivision [Georgia's Innovation and Technology Agency](https://gita.gov.ge/en) (GITA). [Startup Georgia](https://www.startupgeorgia.org/) 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. ==read-more==
 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](https://research.georgiasouthern.edu/big/big-programs/fablab/). There are several business support platforms and organizations, such as [Startup Factory](http://startupfactory.ug.edu.ge/) by the University of Georgia, [Batumi Business incubator](http://www.bbi.ge/) (Batumi is the administrative centre of the Adjara republic, a Georgian autonomy), and [Startup Grind Tbilisi](https://startupgrind.ge/). Another hub that supports the business environment for entrepreneurs is the new [Centre of Entrepreneurship](https://iccwbo.org/media-wall/news-speeches/new-icc-centre-of-entrepreneurship-in-georgia-to-support-small-businesses-in-the-caucasus-region/) by the [International Chamber of Commerce](https://iccwbo.org/). 
 Notable accelerator programs and coworking spaces include Impact Hub in Tbilisi, [FasterCapital](https://fastercapital.com/countries/georgia.html) (a branch of an international online incubator and accelerator), and the acceleration program [500 Startups](https://programs.500.co/500georgia), 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

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Echolize

Tbilisi

Echolize startup from Tbilisi, Georgia is ranked 54498 out of 149632 worldwide and 24 from the 65 startups in Georgia. See more information and additional rankings on the StartupBlink Global Ecosystem Map

As the innovation hub of the Asia-Pacific region, Taiwan is renowned for its outstanding high-tech R&D capacity, highly-trained professionals, and thriving networks of entrepreneurs which enable our  startup ecosystem to achieve steady continuous growth.

Director General, Department of Academia-Industry Collaboration and Science Park Affairs

We've seen the startup ecosystem of Moscow rapidly mature in the  last years. Having a dedicated startup agency has been instrumental in helping to deliver the right support services to entrepreneurs, investors and talent.

Startup Ecosystem Comparative Analysis

In the recent years, Moscow has become a gravity centre for the most talented people not only from Russia and Eastern Europe, but from all over the world. Such concentration of professionals affirms Moscow as one of the global “cities of the future”, world centre for the development of breakthrough technologies, particularly in IT.

The Moscow Agency of Innovations was established to create a truly favorable environment for the advancement of technology in Moscow.

2016

The Skolkovo Innovation Center and Skolkovo Foundation was signed into law with a goal to goal is to create a sustainable ecosystem of entrepreneurship and innovation.

2010

Avito, a classified ads website and now a unicorn, first went online.

2007

The Moscow Seed Fund, a VC which invests in see and pre-seed startups, was established.

2005

Yandex search engine was launched!!!!

1997

CAREC Startup Hub is launched

2022

CAREC Ministerial Conference endorses CAREC Digital Strategy 2030

2021

CAREC Secretariat launches technical assistance on startups and digitalization

2020

CAREC 2030 Strategy endorsed and includes ICT as cost-cutting sector for CAREC Program

2017

CAREC Institute establishes office in Urumchi, PRC

2015

CAREC program approves 6 projects amounting to $247 million under energy, trade, and transport sectors

2001

ADB officially establishes CAREC program

Technical assistance to promote regional economic cooperation in Central Asia is approved

1996

Запуск CAREC Startup Hub

 Министерская конференция ЦАРЭС одобряет Цифровую стратегию ЦАРЭС 2030

Секретариат ЦАРЭС запускает техническую помощь стартапам и цифровизации

Гендерная стратегия ЦАРЭС до 2030 года одобрена всеми странами-участницами

Институт ЦАРЭС получает правовой статус и Стратегия ЦАРЭС-2030 включает ИКТ в качестве сектора для Программы ЦАРЭС

Создана физическая база Института ЦАРЭС

Одобрено шесть проектов ЦАРЭС на сумму $247 млн

АБР официально учредил программу ЦАРЭС

Одобрена техническая помощь в продвижении регионального экономического сотрудничества в Центральной Азии

CAREC

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