International School of Economics at Tbilisi State University

What International School of Economics at Tbilisi State University does

International School of Economics at Tbilisi State University (ISET) is a non-partisan economic research center and think tank established in 2011 and affiliated with Tbilisi State University in Tbilisi, Georgia. It produces a portfolio of recurring economic indices, including the Khachapuri Index (food price inflation tracker inspired by The Economist's Big Mac Index), Business Confidence Index, Consumer Confidence Index, GDP Forecast, Agri Review, Macroeconomic Review, Gender Equality Index, and Municipal Livability Index. It also publishes Research Reports, Policy Briefs, and Regulatory Impact Assessments (RIAs), and develops methodology for Gender Impact Assessment (GIA). Its underlying technology is described as advanced economic and quantitative analytical tools and data analysis techniques, with proprietary differentiation in domain specialization and novel methodological architecture for policy evaluation.

The organization serves Georgian government ministries and parliamentary committees, civil society organizations, private sector associations, academic and research institutions, and international development partners. Its revenue model is primarily donor-funded, with grants from USAID, the European Union (including the EUR 102 million ENPARD program), UN agencies (UNDP, UNICEF), the World Bank, GIZ, and the Swedish Embassy. A secondary revenue stream consists of capacity-building and professional training programs for government officials and private-sector professionals (such as the ProCredit Bank-sponsored Finance for Professionals Program). Distribution is conducted through the ISET website (free publications), direct training delivery, and international conferences, with the ISET Policy Pulse newsletter and policy blog supporting top-of-funnel dissemination.

Name

International School of Economics at Tbilisi State University

Legal name

International School of Economics at Tbilisi State University

Website

https://iset-pi.ge

Company type

Private

Founded year

2011

Operating status

Operating

Short description

Non-partisan economic think tank affiliated with Tbilisi State University, established 2011, producing economic indices, policy research, and regulatory impact assessments for Georgian government, civil society, and international donor partners.

Ownership category

akta.pro rank

Product category

Economic Policy Research

NAICS

Marketing Research and Public Opinion Polling (54191)

SIC

Services-Engineering, Accounting, Research, Management (8700), Services-Management Consulting Services (8742)

akta.pro primary industry

Policy, Regulatory & Public Affairs Research (BPAHALAF)

akta.pro secondary industries

Economic Research, Statistics & Policy Advisory (BPADAMAJ), ESG, Sustainability & Impact Research (BPAHALAL)

Keywords

• Economic policy research
• Economic indices
• Capacity building
• Regulatory impact assessment
• Think tank services

Headquarters

HQ city

Tbilisi

HQ country

Georgia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Donor-Funded Research Projects: ISET operates primarily through grants and donor funding from international development organizations including USAID, EU, UN agencies, and bilateral donors. Projects focus on policy research, capacity building, and technical assistance in areas including governance, agriculture, energy, and sustainable development.
2. Training and Capacity Building Programs: Provides professional training programs for government officials, civil servants, private sector professionals, and civil society organizations. Programs include Finance for Professionals, Executive Leadership Program, and specialized sectoral training. Some programs offer certificates upon completion.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

ISET Policy Institute is a non-partisan economic research center that produces a portfolio of regular economic indices (Khachapuri Index, Business Confidence Index, Consumer Confidence Index, GDP Forecast, Agri Review, Macroeconomic Review, Gender Equality Index, Municipal Livability Index) and publishes Research Reports, Policy Briefs, and Regulatory Impact Assessments. It also delivers capacity building and training programs for government officials, civil servants, and private sector professionals on policy analysis and regulatory impact assessment methodology.

Product overview

ISET Policy Institute is a non-partisan economic research center that operates a portfolio of economic indices, research publications, and capacity building programs. The core offerings include: the Khachapuri Index (food price inflation tracker), Business Confidence Index, Consumer Confidence Index, GDP Forecast, Agri Review, Macroeconomic Review, Gender Equality Index, and Municipal Livability Index. These are complemented by Research Reports, Policy Briefs, and Regulatory Impact Assessment (RIA) publications. Additionally, the institute offers Capacity Building Programs providing training to government officials and civil servants on policy analysis and regulatory impact assessment methodology. The institute collaborates with international think-tanks, academic institutions, and development partners including EU, UNDP, World Bank, and USAID.

Differentiator

Problem solved

Functional benefit

Products and services

• Khachapuri Index
• Business Confidence Index
• Consumer Confidence Index
• GDP Forecast
• Agri Review
• Macroeconomic Review
• Gender Equality Index
• Municipal Livability Index
• Research Reports
• Policy Briefs
• Regulatory Impact Assessments (RIAs)
• Capacity Building Programs

Quantifiable outcome

• Farmers in EU-supported cooperatives increased incomes by 27% and profit by 30% on average
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Tbilisi State University (TSU)coreStrategic or Co-development PartnerISET is affiliated with Tbilisi State University and operates as its international economics school. The partnership involves academic collaboration, student involvement in research, and joint educational programs. ISET hosts joint events with TSU including the September 2025 SDG anniversary panel.
• United Nations Development Programme (UNDP)coreStrategic or Co-development PartnerJoint initiative to enhance export potential of Georgian SMEs to European markets, supported by UNDP and EU. ISET works with Policy and Management Consulting Group on this project.
• UNICEFcoreStrategic or Co-development PartnerFunding partner for child-rights-based budget analysis methodology development project. Works on ensuring public financial decisions prioritize children's needs.
• Leibniz Institute of Agricultural Development in Transition Economies (IAMO)coreStrategic or Co-development PartnerCo-organizes international conferences on agri-food value chains in the South Caucasus. Signed Memorandum of Understanding in October 2024 for enhanced research collaboration and professional development of students and junior researchers.
• World BankcoreStrategic or Co-development PartnerCollaborates on policy research, participates in World Bank events, hosts report launches, and engages in joint panel discussions on Georgia's development challenges and opportunities.
• DeloitteminorImplementation/ SI/ Consulting PartnerCollaborative partner in USAID's Energy Program. ISET leads RIA training under this partnership targeting energy sector actors including GNERC, ESCO, and Ministry of Economy.
• BruegelminorStrategic or Co-development PartnerEuropean think tank visited by ISET delegation in Brussels for knowledge exchange. Discussion focused on research agenda, membership structure, and crisis response strategies.
• Centre for European Policy Studies (CEPS)minorStrategic or Co-development PartnerEuropean policy think tank met during ISET's Brussels study visit. Discussed importance of in-depth research, flagship events, and task forces for policy issues.
• European Policy Centre (EPC)minorStrategic or Co-development PartnerEuropean think tank visited by ISET delegation. Shared insights on membership model, member services, and collaboration opportunities for university-based think tanks.
• Association of Young Professionals in the Energy Sector of Georgia (AYPEG)minorStrategic or Co-development PartnerCollaborated on training course for Ministry of Energy staff on electricity markets, competitive markets theory, and energy forecasting.
• GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit)minorStrategic or Co-development PartnerSupports climate change and gender conferences and initiatives. Works on capacity development for climate policy in South Caucasus region.
• Eastern Partnership Road Safety Observatory (EaP RSO)coreStrategic or Co-development PartnerISET Policy Institute serves as host to the Technical Secretariat of the Eastern Partnership Road Safety Observatory, conducting webinars and regional activities on road safety data collection.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• RAND Corporation: Global policy research institution with broad research agenda across economics, security, health, and education. Comparable as a major policy think tank with donor-funded research model, though significantly larger, older, and more diversified than ISET.
• Carnegie Europe: European arm of the Carnegie Endowment for International Peace, focusing on European and transatlantic policy issues. Comparable as a major economic and policy research institution, though broader in geographic and topical scope than ISET's regional focus.
• Brookings Institution: Major US-based public policy research organization conducting in-depth research on economics, foreign policy, and governance. Comparable as a leading policy think tank, though with significantly broader scope, deeper resources, and global rather than regional focus.

Direct peers

• PMC Research Center: Georgia-based policy research and consulting organization focused on governance, economic, and social policy analysis. Directly comparable as a domestic peer with similar policy research methodology, donor-funded operations, and government engagement.
• Overseas Development Institute (ODI): UK-based global affairs think tank working on international development and humanitarian policy issues. Comparable as a long-established, donor-funded policy research organization with a similar model of producing research, convening stakeholders, and building capacity in developing countries.
• Centre for European Policy Studies (CEPS): Brussels-based think tank producing in-depth research on European policy issues including economics, regulatory affairs, and governance. ISET leadership met with CEPS during Brussels visits to discuss flagship events and task forces, making it a directly comparable European policy research peer.
• Bruegel: European economic think tank based in Brussels producing economic analysis and policy recommendations on EU economic policy. ISET maintains a formal partnership and conducted study visits to align research agendas, making it a directly comparable peer in the economic policy think tank space.
• International Growth Centre (IGC): UK-based research organization providing evidence-based advice on growth and development in developing countries. Comparable as a donor-funded economic research organization delivering policy advice to governments and producing indices and data products.
• Caucasus Research Resource Centers (CRRC): Regional research organization operating across the South Caucasus (Armenia, Azerbaijan, Georgia) conducting social science research, surveys, and capacity building. Directly comparable as a regional research organization with similar donor-driven model and policy research focus.
• European Policy Centre (EPC): Brussels-based think tank focused on EU integration, social affairs, and economic policy. ISET engaged with EPC on membership models and collaboration approaches for university-based think tanks, positioning it as a directly comparable policy research institution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about International School of Economics at Tbilisi State University