“Ambassadori Island” Granted Ownership of 28 Hectares of Land Created in the Black Sea
“Ambassadori Island Batumi” - one of the largest and most strategically significant project in the Black Sea region has entered a new phase of development. By decision of the Government of Georgia, the company has officially been granted ownership of the 28-hectare land area it created in the Black Sea aquatory in accordance with its investment obligations.
It is important to note that the privatization process applies specifically to the land territory created by the company itself within the Black Sea aquatory. To date, a total of 48 hectares of land has already been created and commissioned within the “Ambassadori Island” project area, of which 28 hectares have now been transferred to the company’s ownership in accordance with applicable legislation. This decision marks another important milestone in the project’s development and once again highlights the effective cooperation between the state and the private sector in implementing large-scale investment projects.
The rapid pace of the project’s development has already made it one of the largest hubs for mobilizing both local and international capital in Georgia. At this stage, more than USD 600 million in investments is being carried out by four Georgian companies across various developments within the project. Construction and engineering works are actively underway throughout the island territory.
“Granting ownership rights over the territory created by the company itself is a logical continuation of the project’s development. This decision significantly strengthens the project’s investment attractiveness and sends a clear signal to both local and international partners that Georgia is ready to support large-scale, long-term development projects,” stated the CEO of Ambassadori Island Batumi.
Once fully completed, “Ambassadori Island Batumi” is expected to generate significant fiscal and investment benefits for the country’s economy. According to estimates, the project will contribute approximately USD 65 million annually in tax revenues to the state budget. International studies also indicate that up to 20,000 jobs will be created as part of the project’s implementation.
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Global Tech Weekend Opens Applications for Startups and Investors to Pitch Ideas on the Ferris Wheel on December 5
30.10.2026.19:36
Global Tech Weekend will host the official launch event on December 5 at Mtatsminda Hall. Applications are now officially open for the “Pitch in a Ferris Wheel” session, where startups will present their ideas to international investors inside the cabins of the Mtatsminda Ferris Wheel. Applications are open to both startups and investors.
6 Minutes. One Rotation. One Chance.
For the first time in history, the Mtatsminda Ferris Wheel will be dedicated entirely to startups and investors. Each founder will have one full rotation of the wheel, six minutes, to pitch their startup. Only the founder and investors will be inside the cabin, with no stage or audience.
All pitches will be livestreamed, and the winning startup will be announced at the awards ceremony later that evening. The format aims to connect startups with international investors and create opportunities for long-term results.
A New Opportunity for Startups and Investors
Global Tech Weekend invites startups looking to secure international investment and expand globally. Selected founders will have the opportunity to meet face-to-face with international investors from Global Tech Weekend’s global network and deliver a six-minute pitch inside a Ferris Wheel cabin.
The experience also offers investors an opportunity to discover new ideas beyond the traditional business meeting setting, inside a Ferris Wheel cabin. The format is designed for venture capital funds, angel investors, and corporate investors seeking access to emerging markets and early-stage opportunities.
“The tech ecosystem has many promising startups whose growth depends, in part, on meeting the right investors, securing funding, and expanding internationally. ‘Pitch in a Ferris Wheel’ experience is designed to facilitate these connections: six minutes, one rotation, and a direct conversation between a founder and an investor. We invite startups and investors to become part of this unique experience,” says Medea Janjghava, CEO of Global Tech Weekend.
How to Apply
Applications are now open. All interested startups and investors are invited to complete the relevant application form.
Global Tech Weekend 2027 Official Launch Event
The official launch event of Global Tech Weekend 2027 will take place on December 5 at Mtatsminda Hall. One of the event’s main highlights will be the pitch inside Mtatsminda Ferris Wheel. The program will also feature the official presentation of Global Tech Weekend 2027, announcements of next year’s plans and dates, new strategic partnerships, exclusive networking, meetings with international guests, and a music program.
The organizers will present the key initiatives, concept, and international expansion plans for 2027. The event will be held in a closed format, with attendance available by prior registration only through Global Tech Weekend’s official Luma page.
Registration: See link
About Global Tech Weekend
Global Tech Weekend is the decentralized tech movement. In 2026, the movement expanded across San Francisco, Tashkent, and Tbilisi. Global Tech Weekend Tbilisi 2026 brought together more than 10,000 attendees, 250 speakers, 300 investors, 150 partners, and representatives from more than 12 sectors.
Website: https://gtwt.ge/
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