A Deep Past and Dynamic Future

Georgia’s First Entrepreneurs

For hundreds of years, Georgians have boasted a diverse agricultural industry and, at its heart, extraordinary winemaking. Having produced wine for at least 8,000 years, it is likely that some of the country’s first entrepreneurs were winemakers from the southern region of Shulaveri, who traded wine for leathers, grains, and cooking oils in Babylon and Ur — the first two cities of the Fertile Crescent, or modern-day Iraq.

Today, the Georgian wine industry embodies its vine’s symbolism: rebirth and prosperity. In the past 10 years, Georgian’s have met the growing international interest in their wine at full force. In 2006, there were around 80 registered wineries. By 2022, this number has ballooned to over 1,000.

The Origin of the Golden Fleece

Georgia’s rich mineral-mining history began over 5,000 years ago. Having invented a new way of mining gold — setting fire to the mines to detach ore from rock — ancient Georgian’s were known for possessing an abundance of gold. In fact, in the 6th and 5th centuries, this ancient kingdom’s gold mining put them on the map, mythically. Historians believe the legend of Jason and the Golden Fleece is based on Georgian’s method of mining for gold with sheep fleece!

Nowadays, Georgia is paving the way for a new kind of mining, cryptocurrency mining. The country’s pro-business environment and cheap electricity has led as many as 200,000 Georgians to entrepreneurially begin mining for various cryptocurrencies.

The Gateway to the Caucuses

As a gateway to both Europe and Asia, Georgia has long served as a convenient, yet surprising and stunning vacation destination. At the start of the 19th century, the country’s growing economic and political stability gave way to brand new tourism developments. From Borjomi to Tskaltubo and Gagra, resort and recreational infrastructure popped up across the country. Today, beach resorts, ski chalets and wellness spas continue to serve as growing opportunities for Georgian entrepreneurship and investment.

Hydro-Powering Georgia

Since electricity arrived in the country in 1887, Georgians have embraced the industry with an entrepreneurial optimism. Perhaps, one of the best examples of this is Niko Nikoladze’s efforts to construct the largest hydropower project in Georgian history, the Enguri Dam. While there was no precedent for a project this complex in Georgia, Nikoladze dedicated 20 years of his life to the construction of a hydropower plant on the Enguri River, which was completed in 1970.

Today, 73.5% of Georgia’s energy comes from Hydropower and there is an attractive opportunity for export. Considering Georgia is surrounded by countries that either have higher electricity generation cost or electricity deficit, Georgia has a competitive advantage to meet its region’s growing energy needs.