The Startup Phenomenon in Modern Business and Experience of Georgia

The paper discusses the main strengths and weaknesses of startups in Georgia. In recent years, the number of startups in Georgia has been growing steadily, which is facilitated by the improvement of the business environment and the development of entrepreneurial culture. Government programs supporting entrepreneurship, special economic zones, tax and organizational benefits create significant incentives for local and foreign citizens to register business ventures in the jurisdiction of Georgia. The startup is a young company that creates a new, improved product or service based on a unique business model. Such business ventures stimulate the economic development of the country, increase the level of employment and innovative potential. Startups operating in Georgia still face difficulties in a number of areas, which negatively affects the full realization of its potential. Keywords: startup; innovation; entrepreneurship; business model; technology.