Endeavor’s programme has taken place for the third consecutive year with Postbank as a main partner and the support of Software Group and BSMEPA
13 December 2021
Demo Day, the final event of Endeavor’s growth programme – Dare to Scale, took place on 9 December for the third consecutive year. The programme is organized with Postbank as a main partner and the support of Software Group and the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA). The programme is designed for early stage high-growth companies and aims to help entrepreneurs acquire the knowledge and skills needed to expand their business. In 2021’s edition, 20 entrepreneurs were selected from 10 companies, as nearly 40% of the participants are women and three of the companies are entirely run by women.
The programme took place from September to December 2021, during which entrepreneurs attended workshops and individual mentoring sessions led by successful business leaders from the Endeavor’s network. Some of the lecturers were Telerik co-founders Vasil Terziev and Svetozar Georgiev, co-founder of the recently sold REMIX Lyubomir Klenov, Telelink founder Lyubomir Minchev, serial entrepreneur Deyan Vitanov and others. The trainings covered topics in the main areas in which companies most often face challenges – sales, business planning, fundraising and organization management. The programme was held in Sofia, as a total of over 30 mentors and board members from the local Endeavor’s network shared their experiences in over 50 individual mentoring sessions and seven workshops.
Demo Day was held entirely online with the media partnership of Forbes Bulgaria, Bloomberg TV Bulgaria and The Recursive, and marked the finale of Dare to Scale 2021. During the event, participants had the opportunity to present their businesses within four minutes to a 5-member jury composed of established figures, including:
- Petia Dimitrova, CEO and Chairperson of the Management Board of Postbank
- Kalin Radev, founder and Executive Director of Software Group
- Boyko Takov, Executive Director of BSMEPA
- Levon Hampartzoumian – financial expert, Chair of the Management Board of the Bulgarian Business Leaders Forum and a former executive director of UniCredit Bulbank
- Sabina Gyosheva –co-founder of BY FAR.
The presentation of the 10 companies was also attended by business leaders, mentors and investors from the Endeavor’s network. Each company was evaluated by the jury on the basis of its growth potential, development strategy and presentation skills. The following companies received the highest points:
- PARAMIDONNA, founder: Donika Ancheva
- Racebox, co-founders: Rosen Kolarov, Vasil Kolarov
- Two companies received the equal points: StorPool, co-founders: Boyan Ivanov, Boyan Krosnov; Reverse, founder: Dr. Rositsa Dencheva.
The companies won additional individual mentoring sessions as part of Endeavor’s network, a media presentation on Bloomberg TV, a premium membership in The Recursive’s Growth Club and an invitation to Endeavor’s annual cocktail party.
Petia Dimitrova, CEO and Chairperson of the Management Board of Postbank:
“For the third consecutive year, Dare to Scale has proven its value and influence by investing in the potential of 10 of the most promising scale-up companies in Bulgaria. Postbank is part of the entrepreneurial ecosystem and this is undoubtedly the model we want to promote in the development of the business environment. We are glad that entrepreneurs have inspired us again with their spirit, ambition and confidence that any endeavour is possible, regardless of its scale. Our mission in this inspiring journey was to provide invaluable experience and knowledge that guarantee sustainable growth. In the search for the success formula, everyone has their special role and we are grateful that we can help the Bulgarian business become even more competitive and profitable.”
Kalin Radev, founder and Executive Director of Software Group:
“I am happy to share for the third consecutive year the experience of Software Group with such interesting companies, many of which are represented by female entrepreneurs. Diversity is evident not only in business management, but also in the sectors in which the companies operate. Congratulations to all the participants and winners of the Dare to Scale programme, and I believe that the mentoring sessions and trainings will give them the necessary impetus and support for scaling and success.”
Boyko Takov, Executive Director of BSMEPA:
“For the third consecutive year, we have supported Dare to Scale and for the third time in a row I am fascinated by the progress of each company that completed the programme. It was really inspiring to watch their development and I am absolutely sure that in the future we will hear good news about their positioning on international markets. I would like to thank Endeavor Bulgaria for organizing the programme, which has established itself as one of the best in Bulgaria.”
Momchil Vasilev, Executive Director of Endeavor for Bulgaria
“With its third edition, Endeavor’s Dare to Scale programme has established itself as a platform that gives entrepreneurs, who have already found their way to the market, that initial boost that can launch them to the high orbit of success. This year’s participants showed a lot of enthusiasm to grow and commitment to the lecturers and mentors in the programme. We owe special debt of gratitude and appreciation to them for the energy and time they invested. We are proud of the growing community of Dare to Scale in Bulgaria, as well as the region as of next year.”
Endeavor is a global non-profit organization with offices in 40 markets, helping entrepreneurs with big ideas and businesses rapidly grow 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 its operations in July 2015 in order to expand the organization’s presence in Europe. The Bulgarian office has so far supported 100+ entrepreneurs from 50+ companies, which have opened over 2,300 jobs and generated revenues of BGN 320 million in the past year. www.endeavor.bg