Abstract

An entrepreneurial ecosystem can be defined as a national or international network of public and private organizations that combine efforts to create new companies and ensure their success by offering them access to knowledge, capital, markets and resources. This motivates companies to invest their profits in the same ecosystem, which in turn creates economic wealth and develops industries. In addition to creating more competitive and efficient markets and improving the user experience, entrepreneurial ecosystems in information and communication technologies are mainly focused on innovation, the creation of new business models, products and services.
The EU4Digital program has developed a framework to establish and strengthen ICT entrepreneurial ecosystems in the six Eastern Partnership countries (Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova and Ukraine); this will be done through a roadmap that assesses the technological readiness of each country and provides recommendations for ecosystem development for these countries.
The Georgian ecosystem has undergone significant and rapid changes in recent years. One of its main directions is the startup ecosystem.
The current situation can be characterized by great attention and interest in startups and the development of the startup ecosystem.
Even though Georgia’s development processes are transforming in the right way, there are a number of challenges that have to be overcome in order to build up a world-class startup ecosystem.
The paper uses the results of the research conducted by one of the co-authors in this direction, in which was formulated the definition of a
spatial innovative entrepreneurial ecosystem, and was determined the role of the institutional environment in ensuring its sustainable
development.