News | 26 September 2018

EFSE DF and TBC Bank introduce tech innovations to Georgia’s business sector

“Apps Challenge” competition promotes technological entrepreneurs while providing new solutions for easy, effective business processes

Tbilisi, 27 September 2018 – Georgia’s “Apps Challenge” competition, hosted by TBC Bank and the Development Facility of the European Fund for Southeast Europe (EFSE DF), introduced market-ready technological innovations to businesses and the interested public at the final round in Tbilisi on 17 September 2018.

The three-stage software competition received 73 entries from tech entrepreneurs all over Georgia. At the final round, the six leading teams presented prototypes developed for various business sectors to help predominantly micro, small, and medium-sized enterprises (MSMEs) simplify and automate their processes.

The winning solutions were:

First place

Team: SystemJet

Product: SystemJet

SystemJet allows beauty salons and aesthetic centres to analyse their businesses, make reservations in multifunctional calendars, create a customer database, contact clients via SMS without leaving the program, and control the flow of money. It also provides a product management system, analytics, statistical diagrams, and other data.

Second place

Team: VOBI

Product: InvoiceWave

This simple tool manages financial documents, revenues, and expenditures, enabling MSMEs and freelance specialists to automate their invoicing. The user-friendly program is easy to learn and does not require any special background in accountancy or finance.

Third place



CONTRACTS.GE allows users to prepare basic legal documents related to business activity in just a few minutes, based on answers provided to the “Cyber Lawyer” – without any other human involvement.

The winning team was awarded a cash prize of GEL 30,000 (EUR 10,440) by the EFSE DF, who also granted GEL 15,000 (EUR 5,220) to the second and third place holders.

“EFSE DF is very proud to be helping these innovative young companies contribute their technological expertise to the entrepreneurial ecosystem in Georgia,” said Markus Aschendorf, Chairman of the EFSE DF. “Our partner TBC Bank has a proven track record of providing non-financial services to MSMEs, a goal very much in line with the EFSE DF’s mission to raise entrepreneurial awareness in the region and strengthen the capacities of local businesses. These IT solutions will help enterprises save time and money, and improve their access to the market. Moreover, promoting the local development of IT solutions ensures technology that is not only more affordable and accessible, but also more tailored to local business needs.”

“Our purpose is to create opportunities for people and businesses. These kinds of initiatives create opportunities and inspire many people. We believe that supporting businesses and creating awareness on doing business is of supreme importance. Having EFSE as a partner with whom we share this vision is a big advantage and we are very thankful to them,” commented Nika Kurdiani, Deputy CEO of TBC Bank.

All finished products introduced at the competition will be posted on TBC Bank’s new online platform,, which connects technological product suppliers with businesses. There, companies can find, compare, and discover the software required for their businesses – whether computer software, mobile app, or web service.

For more information on the Apps Challenge, please visit:

About the EFSE Development Facility

The Development Facility of the European Fund for Southeast Europe (EFSE DF) was created in 2006 to support the fund’s development finance mandate. It deploys effective, targeted and innovative technical assistance to maximise the impact and extent of the fund’s development finance mandate in target countries. The services of the EFSE DF encompass capacity building and training, financial sector support, and applied research with the aim of strengthening the internal capacities and operations of the fund’s partner lending institutions.

The facility operates independently from the fund in a fiduciary arrangement under Luxembourg law. The Development Facility Committee, comprising members nominated by KfW Development Bank, the the development bank of Austria OeEB, and the Dutch development bank FMO, is responsible for assessing and approving all project proposals and providing strategic guidance to the facility.

Follow EFSE on Facebook at and Twitter @efsefund

About TBC Bank 

TBC Bank Group PLC is a public limited company registered in England and Wales that was incorporated in February 2016. TBC Bank Group PLC became the parent company of JSC TBC Bank (“TBC Bank”) on 10 August 2016. TBC Bank Group PLC is listed on the London Stock Exchange under the symbol TBCG. TBC Bank, together with its subsidiaries, is the leading universal banking group in Georgia, with a total market share of 38.3% of loans and 39.5% of non-banking deposits as at 30 June 2018, according to data published by the National Bank of Georgia. 

Media contact EFSE

Nikki Eggers

Senior Officer, Marketing & Communications


Phone: +49 (0)69 271 035-470 

Media contact TBC Bank

Natia Chanturia

Business Support Projects Manager


Phone: +995 555 55 33 34 


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