THE QUDI
- TBC Supports Easy Care, a Winning Team in the Technovation Girls Sakartvelo Competition
Easy Care, a standout team in this year’s Technovation Girls Sakartvelo competition, has developed an innovative app that assists in pet care.
Created by Lika Dekanadze, Nia Abashidze, Andy Aivazian, Elena Kazarian, and Nino Tebidze, Easy Care includes a device for pets that dispenses food and connects to a mobile app. This allows pet owners to feed their pets remotely when they’re not at home.
The app offers more than just food delivery—it provides a wealth of information on pet care, including feeding schedules and expert tips. To ensure the reliability of the content, the team based the information on official studies and expert recommendations. Looking ahead, the team plans to expand Easy Care’s offerings to cater to both small and large farms.
Technovation Girls is an international competition that gathers tens of thousands of girls from over 100 countries, all united by a passion for technology and innovation. The local jury selected the top projects from Technovation Girls Sakartvelo 2024, with the winning teams set to represent Georgia in the global competition.
As a technology-driven company, TBC supports Technovation Girls Sakartvelo with the goal of fostering the growth of the technology ecosystem, empowering girls in this sector, and raising awareness of technology among the younger generation.
- TBC Concept and Mastercard Unveil the 2024 Autumn Season of Vaso Abashidze’s New Theater
TBC Concept and Mastercard proudly sponsor the 2024 autumn season at the new theater named after Vaso Abashidze. Through this partnership, TBC Concept Mastercard cardholders can enjoy exclusive offers tailored just for them.
Throughout the fall season, TBC Concept Mastercard holders will have exclusive access to 8th-row tickets for every performance. The full season tickets will go on sale starting August 21 at 12:00 p.m.
September Program:
“I Die Like a Country” – September 26
What happens when the imminent threat of death isn’t limited to one or two individuals but to an entire nation? What leads a society to total physical and mental collapse? This short novel, “Dying as a Country,” by renowned Greek writer Dimitris Dimitriadis, written in 1978, explores a nation’s slow and agonizing demise.
Director: Mikheil Charkviani
“The Green Tears of Petra von Kant – September 27
Written in 1971 by Rainer Werner Fassbinder, the play “The Bitter Tears of Petra von Kant” delves beyond the boundaries of melodrama to become a conceptual drama. The intense love story explores themes such as loneliness, emotional manipulation, obedience, and freedom.
Director: Davit Mghebrishvili
“Medea” – September 28
Few events in human history have had as profound an impact on world civilization as the saga of Medea, the daughter of the King of Kolkhis. Who was Medea—a tragic figure or a traitor to her homeland? For thousands of years, public opinion on the King of Kolkhis’s daughter has been divided. The new theater’s troupe will attempt to answer these age-old questions through the choreography of “Medea.”
Director: Kote Purtseladze
“Cherry Orchard” – September 29
“The Cherry Orchard” is a comedy about the tragedy of people who have lost their way, torn between proper behavior and actions that are entirely harmful and unacceptable. It tells the story of individuals who ponder their responsibilities so much that they fail to fulfill any of them.
Stage Director and Author of the Stage Version: Andro Enukidze
Supporting the development of culture and the arts in Georgia is central to TBC Concept’s mission. By actively promoting and supporting cultural events, TBC Concept continues to serve this important purpose.
- TBC’s Partner “Naturale Brewery” Shines with Multiple International Awards
“Naturale Brewery” LLC stands out as one of the leading Georgian breweries that have emerged in the local market in recent years. The brewery’s success is marked by international recognition, driven by its high-quality and unique products. Just last year, at the London Beer Competition, the company’s beer secured a silver medal, its cider won a bronze, and “Naturale Brewery” cider earned a silver prize at the World Cider Award.
Founded in 2016, the brewery has grown from a hobby into a serious business venture. Sergo Makarov, the director and chief technologist of “Naturale Brewery,” did not receive formal training in brewing but was always passionate about the craft, constantly consulting relevant literature.
“Starting from the early 2000s, the craft beer boom began globally, with the revival of old recipes. Unlike other countries, in Georgia, there was initially a demand only for lager, as it was the only known type. Light and dark beer, filtered and unfiltered—that was all. Over time, curiosity grew, and people began exploring other varieties. Today, we can confidently say that craft beer culture has taken root in our country. We began production with a one-liter brewing system. Initially, I had a personal loan from TBC Bank, and 3-4 years ago, I took out a small business loan to upgrade our equipment. This year, I took another loan to expand production—we have already purchased a 500-liter boiler. We have beers that are our unique creations. For example, we have tomato beer with Megrelian adjika and Tkemali beer made with Tkemali sauce spices. These beers are exclusive to us and are especially well-suited to Georgian cuisine and flavors.”
“Naturale Brewery” currently produces about 10 types of beer and 6 types of cider.
“In total, we have brewed around 35 different types of beer, but we rotate them constantly. Currently, we produce about 5-6 tons of beer per month. With the arrival of new equipment, we will increase to 10-12 tons per month. Until now, we have only been available throughout Georgia. Once we have a new brewhouse and fermentation tanks, we can consider exporting. We have already received interest from England and Poland.”
Cider, which the company produces alongside beer, is a relatively new beverage for the Georgian market. There’s a reason for this.
“The excise tax on cider was high. Only three years ago, a change was made, lowering the excise duty and making cider production feasible. We use old apple varieties like Antonovka, Brodsky, and Kekhura. Last year, we purchased a one-and-a-half-hectare plot where we planted special apple varieties needed for cider. Cider is a low-alcohol beverage, so it competes with beer rather than wine. Some people can’t drink beer due to its gluten content, but low-alcohol cider is a good alternative, especially in the summer. Besides apples, we also produce cherry and grapefruit cider.”
Currently, the brewery supplies bars and beer shops in Tbilisi and Batumi. The company also owns a bar at Asatiani 30 and a store at Nutsubidze 115. Recently, especially after the pandemic, the sector has seen significant growth, and competition has increased.
“The main competition is with large producers. They produce beer in larger quantities, making it cheaper, and they are often the exclusive providers in bars. However, bars have begun to realize that this approach is flawed. It is unprofitable when consumers are forced to drink only one type—lager. Many bars have opened, and there’s significant competition among them. We stand out with variety and quality. We aim to introduce new varieties that have not been available in the market before. In my opinion, diversity is always an advantage.”
- TBC Supports Testers’ Day 2024: A Premier Technology Conference in Tbilisi
On September 8-9, Tbilisi will host the International Day of Software Testers, a two-day event organized by GeoSTQB with the support of TBC. The Sheraton Grand Tbilisi Metekhi Palace will be the venue, bringing together leading companies from Georgia, Europe, and international speakers.
This year’s Testers’ Day marks its 5th anniversary, making it an especially significant occasion. Participants will have the chance to connect with professionals from Georgia and around the world, fostering meaningful relationships, sharing knowledge, and strengthening professional networks.
The event will feature inspiring talks on real-world cases by both Georgian and international experts, dynamic panel discussions, and engaging workshops. Attendees can also explore the latest QA (Quality Assurance) market research, including a review of the past five years.
As a technology-driven company, TBC is proud to support the International Day of Testing for the third consecutive year, underscoring its commitment to strengthening the tech community in Georgia and promoting the exchange of knowledge and experience.
To register and purchase tickets, visit this link
- TBC Partners with Impact Hub Tbilisi to Launch the 2024 Startup Accelerator
Impact Hub Tbilisi is now accepting applications for its 2024 Startup Acceleration Program. This 12-week initiative, supported by TBC’s “Startuper” project and the EFSE Entrepreneurial Academy, is designed to nurture early-stage tech startups and enhance their potential to secure investment.
The program will select 20 teams through an application and interview process. Eligible participants include early-stage startups that are developing or refining technologies and have either a minimum viable product (MVP) or a clear plan for its development.
The accelerator will primarily take place in person over 12 weeks, from October 2024 to January 2025. The program features thematic workshops, hands-on sessions, individual mentoring, networking events, access to the Impact Hub shared workspace, a field visit for finalists to Madrid, and a demo day where teams will have the chance to attract investment for their startups.
Applications are open until September 20. Interested teams can apply here: Apply Now: link
Founded in 2021, the Impact Hub Tbilisi Startup Accelerator was established by a dedicated team who trained with a leading international acceleration program. Drawing on their experience, they developed a local program tailored to the unique challenges of Georgia’s startup ecosystem. Over the years, the program has supported four cohorts, encompassing 81 startups, and has helped secure nearly $2 million in investments and grants for participating teams. Notable startups from the program’s portfolio include Helio AI, Roommate, Wenroll, Stori AI, Wempler, Lawformer, Connect, Upway, SOS Auto, Tasteit, Wowchy, and Neuropilot.
For more details, visit: Program Information information
Supporters of the accelerator: TBC’s “Startuper” project, EFSE Entrepreneurship Academy.
For additional inquiries, contact us at tbilisi@impacthub.net.
Contact Information:
Keti Ebanoidze
Phone: +995 577 425 611
Email: ketevan.ebanoidze@impacthub.net
- Discover the Multifunctional Space of TBC Concept in Marjanishvili
Located in the historic Marjanishvili district, the TBC Concept multifunctional space offers a versatile environment that caters to modern needs. It’s a hub for both individual and collaborative work, featuring personal banking services, a café with a diverse menu, an inner courtyard, a curated selection of Georgian and international premium brands, a library, and exhibition and event spaces.
– Atrium: The atrium allows you to reserve a desk in a shared space or opt for a private meeting room.
– Workspace and Meeting Rooms: Designed to meet modern standards, these spaces are ideal for individual and team tasks. TBC Concept members can enjoy four free visits per month, with a 20% discount on additional bookings when using the TBC Concept card.
– Café and Courtyard: The café offers an all-day dining menu with a variety of exciting dishes. A 15% cashback is provided when paying with the TBC Concept card.
– Exhibition Spaces: The space regularly hosts contemporary art exhibitions. Currently, you can explore Nino Chubinishvili’s “Maybe I Will Remain a Butterfly in the War?” on display until September 15.
– Collection: The collection features premium Georgian and international brands. A 15% cashback is available on purchases made with the TBC Concept card.
– Library: The library offers a curated selection of books focused on business, art, and innovation.
The TBC Concept multifunctional space is designed to host a variety of events, adapting to users’ interests and values, making it a comfortable and inspiring place for both work and relaxation.
Address: TBC Concept Multifunctional Space, Marjanishvili 7.
- TBC Equity Monthly Macro Review: Chief Economist Highlights Neutral Impact of Currency Inflows and Sentiments
According to TBC’s operational data, the strong economic growth observed in June, at 7.5%, is expected to continue in July, with TBC Capital’s short-term forecast estimating growth around 7.3%. Amidst this robust economic performance, inflation remains below target. In July, consumer prices decreased by 0.4% compared to the previous month, which, after adjusting for seasonal factors, translates to zero inflation. The annual inflation rate stands at 1.8%. However, it’s important to note that one-off factors have significantly influenced these recent inflation trends, which would otherwise align more closely with the 3% target.
Regarding the exchange rate of the lari, factors beyond currency inflows—particularly market sentiment—play a crucial role. TBC Capital offers a quantitative assessment of how currency inflows and sentiments jointly influence the exchange rate. This analysis considers variables such as the performance of the tourism sector, the currency composition of loans and deposits, and the US dollar index against other major currencies. The quantitative framework accurately reflects the historical and actual dynamics of the GEL-USD exchange rate, reaffirming our previous conclusions that the current valuation remains neutral.
However, ongoing geopolitical challenges, especially developments in the Middle East, pose significant risks to the Georgian economy, potentially affecting both foreign inflows and inflation. Additionally, the impact of migration should not be overlooked. For instance, in October 2023, a decline in tourism spending from Israel was offset by an increase in consumer spending by Israeli non-residents, highlighting a positive effect linked to migration.
You can read the full report at the link provided.
- Chavchavadze 64B Issues Debut Bonds with Support from TBC Capital and Galt & Taggart
The real estate management company “Chavchavadze 64B” has successfully issued its first set of bonds, consisting of 2-year bonds worth $10 million and €3 million. This milestone was achieved under the Ministry of Economy and Sustainable Development’s “Enterprise Georgia” capital market support program, with backing from TBC Capital and Galt & Taggart. These bonds are scheduled to be listed on the Georgian Stock Exchange.
The annual yield for the euro-denominated bonds stands at 7.75%, while the dollar-denominated bonds offer an 8.75% annual coupon. This offering attracted significant interest from retail investors, with approximately 100 individuals and entities, both local and international, participating. The company also plans to issue additional bonds worth up to €7.5 million under a program approved by the National Bank.
Proceeds from the bond sale will be used to manage the company’s bank liabilities, aiding in the diversification of its loan portfolio. “Chavchavadze 64B” is the second beneficiary of the “Enterprise Georgia” capital market support program.
In 2024, the “Enterprise Georgia” agency initiated a new phase focused on capital market development, providing companies with an alternative to traditional bank loans. This program co-finances the costs related to securities issuance, including placement fees and credit rating expenses. The agency plans to support up to 15 beneficiaries this year, aiming to attract up to $150 million in additional stock market investments.
Lasha Papashvili, a beneficial owner of the company, expressed satisfaction with the successful debut, highlighting the strong interest from investors as a sign of confidence in the company. He expressed hope that Redix Group, the parent company, will continue to offer innovative financial products.
Mary Chachanidze, Managing Director of TBC Capital, commended “Chavchavadze 64B” for its successful bond issuance, emphasizing the importance of the capital market in helping the company secure alternative financing. Ketevan Toidze, Deputy Director of Galt & Taggart, also congratulated the company on its achievement, noting the strong investor interest as a testament to the company’s position as a leading business center.
“Chavchavadze 64B” manages a 19-story A-class business center on Chavchavadze Avenue in Tbilisi, valued at $32 million. The center hosts international and local companies, diplomatic missions, and financial institutions, including the Asian Development Bank, the European Union Representation in Georgia, the Embassy of Japan, and the Council of Europe.
The company is part of the Redix Group, one of Georgia’s largest real estate management companies, with investments across various sectors.
- TBC Supports ChiZZZy’s Journey: From Family Startup to International Khachapuri Innovator
ChiZZZy, the first artisan industrial khachapuri brand, is gearing up to enter the international market, with support from TBC. Despite khachapuri’s global recognition as a staple of Georgian cuisine, few have managed to modernize it successfully. Giorgi Bochorishvili, ChiZZZy’s co-founder, has crafted a simple yet innovative solution—offering semi-finished Ajarian khachapuri kits that make baking easy, fast, and affordable for everyone.
After 7-8 months of product testing, ChiZZZy debuted at the Tbilisi Street Food Festival, receiving positive feedback. Since 2022, the brand has been available in various networks across Georgia, but its ambitions extend far beyond. The company is working on scaling to semi-industrial production, aiming to secure international certifications and competitive pricing for the global market.
With interest from markets like the U.S., Israel, Ukraine, Japan, and the Middle East, ChiZZZy is navigating challenges, especially in Europe, where cheese import regulations pose a hurdle. The startup also plans to expand into the HORECA sector and franchise its CHIZZZY Street Café concept.
ChiZZZy’s journey began with the support of family and friends who believed in the founders’ vision of promoting Georgian cuisine. Guided by the principle that “the success of an idea is determined by stubbornness,” the company is now focused on transforming from a family business into an international brand.
