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inovaciuri biznesi<br />
<strong>aprili</strong> - <strong>#4</strong> <strong>2009</strong><br />
Cu ru li in ves ti ci e bis 80% `ma<br />
Ral teq no lo gi ur~ seq tor ze<br />
mo di o da.<br />
ven Cu rul fon d Si fu lis<br />
mo di ne bis da msxvi li in s titu<br />
ci u ri in ves to re bis mo nawi<br />
le o bis zrdis kva lo ba ze,<br />
rom leb sac ris keb Tan da kav Sire<br />
biT mkac ri moTxov ne bi gaaC<br />
ni aT, sa in ves ti cio pri o rite<br />
te bi Tan da Tan Se ic v la. ven<br />
Cu re bis ka pi tal da ban de beb ma<br />
uf ro msxvi li (1dan 5 mln. dola<br />
ri da me ti), gvi a ni, sTarTaf<br />
(Start-up) sta di is, nak le bad<br />
sa ris ko pro eq te bi sa ken ga dai<br />
nac v la. sa ris ko ka pi ta lis<br />
74<br />
ba zar ze gaC n da Se u sa ba mo ba –<br />
si tu a cia, ro de sac erT mln<br />
do la ram de sa Tes le in ves tici<br />
eb ze moTxov na mniS v ne lovnad<br />
aRe ma te bo da mi wo de bas.<br />
sa Tes le in ves ti re bis ni Si dan<br />
ven Cu ru li fon de bis gas v lam<br />
xe li Se uwyo biz nesan ge lo zebis<br />
ricx vis zrdas, ro me lic<br />
ino va ci u ri biz ne sis dawye bis<br />
da fi nan se bis mTa var ga re wyarod<br />
mog vev li na.<br />
`an ge lo ze bis~ seq to ris<br />
srul yo fis Se de gia sa Tes le<br />
in ves ti ci e bis sfe ro Si pro fesi<br />
o na liz mis zrda, ko leq ti uri<br />
in ves ti ci e bis me qa niz me bi sa<br />
biznesangelozebis seqtoris Tanamedrove mdgomareoba<br />
cxrili 1<br />
aSS evropa<br />
EBAN-is eqspertuli Sefaseba:<br />
2007 wels, daaxloebiT,<br />
50000 – 75000 `angelozma~<br />
234000 `angelozma~ 51000<br />
ganaxorciela 23 mlrd evros<br />
firmaSi ganaxorciela<br />
investicia. EBANis oficialuri<br />
25.6 miliardi dolaris<br />
statistikiT 97 qselis 9000ma<br />
aqtiurma `angelozma~ 653<br />
investicia.<br />
daregistrirebuli garigeba<br />
ganaxorciela.<br />
saxelmwifos mxridan raime<br />
fiskaluri mxardaWeris Ro<br />
nisZiebebi ar tardeba. Tumca,<br />
aqtiurad mimdinareobs<br />
diskusia seqtoris stimulirebis<br />
optimaluri zomebis Seqmnaze.<br />
sxvadasxva qveyanaSi izrdeba<br />
saxelmwifos mxridan<br />
fiskaluri mxardaWeris<br />
RonisZiebebis ricxvi. am<br />
TvalsazrisiT lideria<br />
didi britaneTi.<br />
An angel investor or angel (known as a business<br />
angel or informal investor in world) is an affluent<br />
individual who provides capital for a seed stage, usually<br />
in exchange for convertible debt or ownership equity.<br />
A small but increasing number of angel investors<br />
organize themselves into angel groups or angel networks<br />
to share research and pool their investment capital.<br />
Angels typically invest their own funds, unlike venture<br />
capitalists, who manage the pooled money of others<br />
in a professionally-managed fund. Although typically<br />
reflecting the investment judgment of an individual, the<br />
actual entity that provides the funding may be a trust,<br />
annotation<br />
da in f ras t ruq tu ris gan vi Tare<br />
ba (biz nesan ge loz Ta qsele<br />
bi). mox da `an ge lo ze bis~ da<br />
ven Cu ru li seq to ris sa bo loo<br />
ga mij v na. Ta na med ro ve pi robeb<br />
Si biz nesan ge lo ze bis seqtor<br />
Si Zli er de ba ko leq ti u ri<br />
in ves ti re bis me qa niz me bis roli,<br />
vi Tar de ba erov nu li da<br />
sa er Ta So ri so Ta nam S rom lobis<br />
for me bi. maT So ris, erTerT<br />
yve la ze cno bils da mniSv<br />
ne lo vans war mo ad gens EBAN<br />
(biz nesan ge lo ze bis ev ro pu li<br />
qse li), ro mel Sic, sam wu xa rod,<br />
sa qar T ve lo jer ar aris warmod<br />
ge ni li. es mniS v ne lov nad<br />
afer xebs sa qar T ve lo Si ino vaci<br />
u ri seq to ris gan vi Ta re bas.<br />
(ix cxrili 1).<br />
am ri gad, ino va ci u ri biz nesis<br />
praq ti ka gviC ve nebs, rom<br />
sawyis, Ca Tes vis sta di a ze, rode<br />
sac mTa var aq tivs idea warmo<br />
ad gens, xo lo war mo e ba, baza<br />
ri, ga sa Re bis stra te gia jer<br />
ki dev for mi re bis pro ces Sia,<br />
ven Cu ru li fon de bis in ves tici<br />
e bis mi zid vis Se saZ leb lobe<br />
bi mi ni ma lu ria. Tu ima sac<br />
ga viT va lis wi nebT, rom sa qar Tve<br />
lo Si msgav si fon de bi praqti<br />
ku lad ar ar se bobs, ino vaci<br />
u ri pro fi lis fir me bis dafi<br />
nan se bis prob le ma gan sa kuTre<br />
bul aq tu a lo bas iZens. aseT<br />
vi Ta re ba Si `an ge lo ze bis~ inves<br />
ti ci e bis ga aq ti u re ba sa qar<br />
T ve los eko no mi kis ino va ci u ri<br />
gan vi Ta re bis mo del ze ga das vlis<br />
er Ta derT sa Su a le bad unda<br />
gan vi xi loT.<br />
Business-Angel: The CATAlysT of TeChnologiCAl Progress<br />
Sh. Shaburishvili<br />
business, limited liability company, investment fund,<br />
etc.<br />
The practice of the innovation business shows, that<br />
at the seed stage the enterprises have the low chance to<br />
get invitations from the venture funds. The main reason<br />
is that their only asset is the idea, when producing,<br />
market and the strategy is not formed yet. Considering<br />
that practically there are not investments like this in<br />
Georgia, the problem of formation firms with innovation<br />
profiles is getting more actual.In this case the activation<br />
of ,,Angel” innvestations is the only means to get to the<br />
innovation development model of georgian economic.
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