Surge Summit EECCA to be held - a large-scale event for emerging startups and investors

One of the drivers of economic expansion, both locally and worldwide, is the emergence of startups. Startups generate the entire GDP of the G7 economies. A further noteworthy fact is that in 2021, more than 600 billion Dollars were spent on startup financing, a new record high. Startups' survival ability largely depends on how they grow, but responsible growth is just as crucial. Several forms of collaboration with investment firms and supportive startups significantly impact their development - Location being an essential variable in that process.

The countries of Eastern Europe, the Caucasus, and Central Asia (EECCA), the majority of which are post-Soviet countries, offer a relatively young market in terms of the startup ecosystem, which is pivotal for them when seeking financial investments. For this reason, the Surge Summit will be held in Tbilisi from September 5–7 to support and advance businesses headquartered in the region.

Startups and investors will benefit from the Surge Summit by exchanging ideas and exploring new possibilities. The conference will offer various events, among them competitions, workshops, and expert panels. In order to offer additional assistance and resources to the entrepreneurs participating in the summit, Surge Summit will also be working closely with sponsors.

The conference will be supported by the Prague-based investment firm Presto Ventures, which will award the winning start-up company at the summit with a prize of 20,000 Euros. We spoke with Presto Ventures Partner Vojta Rocek to learn more about their partnership with the Surge Conference.

Tell us about your company's investment philosophy and how it fits into supporting startups.

Startup entrepreneurs in the EECCA region differ slightly from those in the West. They tend to have a considerably greater grasp of technology, but lack the ability to market themselves, the product, and the startup effectively. I thoroughly understand why this can be a challenge and how to solve it, as a resident of a former post-Soviet nation.

We focus with the entrepreneurs on international expansion in the EU and USA, after we assist them to create a reliable sales machine within their business that begins producing several 10k deals per month.

These initial investments are particularly strong for a 20+ year perspective, and for me and my business, because they help identify entrepreneurs who can take their ecosystem to the next level of success. Together, we will thereafter invest in the founders who will follow them, and gradually create a thriving startup ecosystem.

How do you support early-stage startups?

We think that for companies to succeed, they need more than just money. Our team offers practical assistance to the businesses in our portfolio, assisting them with everything from product development to go-to-market plans. We interact with a network of mentors and industry professionals to offer our entrepreneurs additional direction and support. In addition, we give our entrepreneurs access to our network of partners and investors so as to assist them to find additional investment.

Do you think the EECCA region is suitable for investing in the startup ecosystem?

Anyone can launch a successful startup. No-one is concerned about your origins or location in the modern world. We only concern ourselves with a startup's capacity to develop and market a product.

Surge Summit will take place in Tbilisi from September 5–7; to register, click here.