This study attempts to identify the barriers youth entrepreneurship in Georgia faces and proposes interventions, which could be led by relevant actors within the ecosystem, to overcome the challenges. Following Isenberg’s Model of Entrepreneurship (2010) as the main analysis framework, we address the role of the current Policy, Finance, Culture, Supports, Human Capital, and Markets in the development of the entrepreneurship ecosystem in Georgia. We further provide broad diagnostics of the ecosystem, map the existing players and initiatives, identify gaps and major weaknesses of each domain, and provide insights into addressing them.
The research findings are compiled based on the available statistical data, literature, and previous studies on Georgian and regional countries’ ecosystems, as well as interviews with key public and private actors of the ecosystem, donor institutions operating in the field, universities, and young entrepreneurs.
Our findings revealed both a favorable environment for supporting entrepreneurship in the country and the shortcomings of the ecosystem. For instance, the policy domain and support infrastructure stood out in terms of creating a supportive environment for startup development. Nevertheless, there is still the need to address particular challenges related to cultural attitudes, underdeveloped alternative financing, and a lack of entrepreneurial skills in Georgia. The key findings and recommendations are summarized below.
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