Georgia’s tense political environment is taking a toll on the country’s business and startup ecosystem, according to Gino Dolin, CEO of Terminal, a leading coworking space network. Speaking on BMGTV, Dolin revealed that several major startups and international companies have either suspended operations in Georgia or relocated their business structures abroad.
“A branch of one of the top three international companies closed because the situation in this country was not what they expected,” Dolin said, noting that many innovative firms are now transferring their legal entities and financial accounts overseas, primarily to the United States. “Two large startups have already closed altogether. One is struggling and may soon be liquidated,” she added, emphasizing that the once-vibrant Georgian startup scene has seen a sharp decline in activity.
According to Dolin, the startup ecosystem—once supported by initiatives such as GITA’s innovation programs - has stagnated. “A few years ago, there was a real boom. Many startups were emerging, support programs were active, and there was energy in the ecosystem. Now, all of that has decreased significantly, and we feel it directly, since startups were among our main clients,” he said.
In a separate interview on BMGTV, Dolin pointed out that the broader investment climate in Georgia has also deteriorated, with both local and foreign investors adopting a cautious stance. “There’s no positive dynamic. Official statistics might show economic growth, but in my field, there are no real investments happening. The business sector is in waiting mode,” he noted. According to Dolin, the slowdown reflects a growing uncertainty in Georgia’s economic environment, making it increasingly difficult for startups and investors to plan for the future.
