Bulgaria-based companies with a turnover of over BGN 200,000 for the past year and up to 150 employees can apply
11 April 2022
The application for Dare to Scale – a four-month growth programme aimed at entrepreneurs and businesses that have already passed the early growth stage and are at the beginning of a larger expansion of their activities – starts today, 11 April 2022. The programme is organized by the Bulgarian office of Endeavor global entrepreneurship network with Postbank as a main partner, the support of Software Group and the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA), as well as SeedBlink as a capital partner.
The application criteria require from companies to have an already proven product or service on the market, a turnover of at least BGN 200,000 for 2021 and a number of employees of up to 150 people. Entrepreneurs from all spheres of the economy and from all regions in Bulgaria can participate in the programme. Applications can be submitted via this link until 30 April 2022. Companies that expressed interest in participating and completed the application form will go through a selection process in which mentors and business leaders from Endeavor’s network will select the final participants.
Anyone, who has questions about the programme and the application process, can join Office Hours – preliminary online meetings with the Endeavor team aimed to provide detailed information about the programme. Registration for Office Hours can be done by making an appointment here.
The Dare to Scale programme will be held in Sofia for four months – from September to December 2022. The founders of the participating companies will have the opportunity to join specialized training in four main areas: organization management, marketing, sales, business planning and capital raising. Each company will have an individual mentor from the Endeavor network, who will hold regular meetings with the founders and provide them with their expertise. Participants will be able to join events to get acquainted and exchange experience with the main figures in the entrepreneurial ecosystem. The programme will end with the final Demo Day event, during which companies will present their businesses to a jury of established business leaders.
So far, more than 60 entrepreneurs from 32 companies have participated in the three editions of Dare to Scale, as five of them have received total funding of over BGN 2 million after participating in the programme. More than 30 mentors have worked with the companies and spent over 170 hours in mentoring meetings. Among the leading speakers were Vassil Terziev (partner in the Eleven fund), Svetozar Georgiev (co-founder of Telerik Academy and the Campus X incubator), Deyan Vitanov (Silicon Valley-based serial entrepreneur), Lyubomir Klenov (founder of the recently sold company Remix), etc. Detailed information about the programme is available here.
Momchil Vassilev, Executive Director of Endeavor Bulgaria:
„The Bulgarian entrepreneurship ecosystem is maturing more and more. It has already created its first unicorn, but more importantly, an environment, in which many other entrepreneurs receive systematic support in terms of access to capital and know-how for their market development and organizational growth, is being developed. Dare to Scale has established itself as the leading accelerator programme in Bulgaria. We are proud that with previous editions of the programme we have helped 32 companies and their founders on their path to success. We would like to the business community and our partners for the trust. This year the programme will be upgraded with new elements such as capital support for the best performing companies and expert assistance by one of the leading consulting companies in the world. We are looking forward to your applications!“
Petia Dimitrova, Chief Executive Officer and Chairperson of the Management Board of Postbank:
„We are starting the fourth year of Dare to Scale even more confident and inspired because what we have achieved so far has shown us we have built a really successful and sustainable development model. We believe that each edition of the programme creates even greater value for the economy, competitiveness and the entrepreneurship ecosystem. We are ready to welcome new participants in the project, to take on the role of their mentor and trusted financial partner, and to support their ambitions for growth by sharing our valuable experience and expertise. We see the effect of Dare to Scale on the development of the business environment and it gives us the confidence that together we are part of a successful mission.“
Kalin Radev, Founder and CEO of Software Group:
„At Software Group, we strongly stand by the cause of supporting local entrepreneurs who have the vision and determination to grow rapidly nationally and internationally, and to successfully go through the metamorphosis from start-ups to growing businesses. Endeavor’s Dare to Scale programme skilfully guides participants through this process, giving them a broad positioning, crystallizing their strategies and key goals, acquiring valuable skills, and generating ideas for improving and developing their business. It is an honour for me to be part of the fourth edition of the mentoring programme and I am looking forward to meet with future participants.“
Boyko Takov, Executive Director of the Bulgarian Small and Medium Enterprises Promotion Agency:
„Time flies fast, especially when it is filled with really remarkable moments. For many companies, this was Dare to Scale – the programme that in the last three years has established itself as one of the best in the field of business development. We have quickly reached the fourth edition and I am urging Bulgarian SMEs to apply because the success formula involved the acquisition of new knowledge, establishing new contacts and, last but not least, in sharing the challenges we face. Dare to Scale is all this and much more. We are expecting you!”
Endeavor is an international, non-governmental organization with offices in 40 locations. It helps entrepreneurs with big ideas and businesses to grow rapidly on a global scale. Endeavor entrepreneurs have the potential to change their countries and the world – they can be a key factor in long-term economic growth, job creation and innovation. Endeavor provides selected entrepreneurs with access to markets, capital and talent in its network of over 4,000 mentors and investors worldwide. In Bulgaria, Endeavor started operating in July 2015 in order to expand the organization’s presence in Europe. The Bulgarian office has so far supported over 100 entrepreneurs from over 50 companies, which have opened over 2,300 jobs and generated revenues of BGN 320 million for the past year. www.endeavor.bg