The Success of Georgian Startup Vault Wines in Davos, Encouraged by PM Gakharia

Prime Minister of Georgia Giorgi Gakharia attended the presentation of young Georgian startuppers in Davos, Switzerland, where the 2020 World Economic Forum is being held. 

Within the Davos World Economic Forum, Georgian startup 'Vault Wines' presented the Wine Authentication and Winemaking Assets Management program, which won the incubator contest of leading Swiss foundation CVVC. According to the rules of the contest, from hundreds of applicants, only 10 are allowed to participate in the incubation program and transform their ideas into real projects. 'Vault Wines' won the Swiss Venture Capital contest in 2019, selected among 1000 competitors. 

CVVC is a prestigious, new-generation Venture Capital Swiss company. The CV Labs incubation contest offers the most desirable grant to startups in Europe. Winning startups are funded with $125.000.

The Vault Wines program focuses on wine e-commerce business and blockchain-based management of wine authentication and winemaking assets. It was developed by more than 70 highly qualified experts over 10 weeks, which contributed to its improvement and building international connections. The Georgian startup already has Swiss and Austrian contractors providing it with authentic holograms and QR codes.

The Prime Minister congratulated the young entrepreneurs on their success and emphasized the importance of entrepreneurial spirit and innovative ideas in the development of the country.

Editor in Chief of Entrepreneur Georgia, George Sharashidze, attended the event and prepared an interview with the successful startuppers. In addition, he met with Olaf Hannemann, Co-Founder, CIO of Crypto Valley Venture Capital - an investor in startup 'Vault Wines' at Davos Crypto Valley Week 'Cool kids on the Blockchain.'

George Sharashidze, Editor in Chief of Entrepreneur Georgia and Olaf Hannemann, Co-Founder, CIO of Crypto Valley

"It was a very special and important day in Davos today. Not only for the Georgian startup, 'Vault Wines,' which was in the top 10 among 800 applicants and was selected by the largest Swiss foundation Crypto Valley Venture Capital for creation of blockchain-based innovative technology, with an investment of $125,000 but for the entire Georgian startup ecosystem. It is an example that Georgian startups can also break boundaries, get investment and solve global problems," Sharashidze noted.

"It is to be welcomed that the Georgian Prime Minister Giorgi Gakharia personally attended their presentation held in front of investors, which I would like to become a signal of the strengthening of the state's support to the startup ecosystem! Soon, 'Entrepreneur' will be offering you an exclusive interview with the young Georgian entrepreneurs," the Editor of Entrepreneur Georgia noted. 

George Sharashidze, Editor in Chief of Entrepreneur Georgia and successful startuppers: Irakli Eliashvili and Sandro Chkhaidze 

The 2020 World Economic Forum was launched on January 21. Within the framework of the annual meeting, the world's leaders, business executives, and academics will discuss problems, achievements and future plans in the world of economy. This year marks the 50th anniversary of the World Economic Forum, and around 600 public speakers are expected at the four-day event.

By Ana Dumbadze 

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22 January 2020 11:38