• 22 entrepreneurs from 12 diverse companies join Dare to Scale 2023, representing industries such as software, fintech, e-commerce, sports, and more.
• Dare to Scale 2023 is a 4-month accelerator for entrepreneurs, organized by Endeavor Bulgaria, with the goal of nurturing Bulgarian late-stage startups in their quest to become globally competitive.
• The selected companies collectively generated a total turnover exceeding €7M in the past year.
Dare to Scale: fostering growth and entrepreneurial expertise
Dare to Scale 2023 is set to kick off officially in September, providing a growth experience for the selected entrepreneurs. The program will run through December, culminating in a Demo Day.
Throughout the duration of Dare to Scale, participants will engage in a structured process designed to equip them with the knowledge and skills necessary for scaling their businesses. They will have access to specialized training in key areas such as organizational management, marketing and sales, business planning, and fundraising. Moreover, they will benefit from individualized mentorship provided by Endeavor’s local mentor network, as well as consultants and directors from PwC Bulgaria.
The Dare to Scale program provides participants with numerous key benefits, including the opportunity to expand their networks, exchange experiences, gain insights, forge collaborations with prominent figures in the entrepreneurial ecosystem, as well as receive valuable expertise and guidance to overcome critical challenges and explore business growth opportunities. You can read more about The Recursive’s own journey with the Dare to Scale program here.
“We are witnessing a growing number of companies with the potential for global expansion and entrepreneurs who have achieved systematic success. Oggy Popov, entering D2S with his third company, ViaBank, is a perfect example. This year, Dare to Scale participants are demonstrating a strong commitment by bringing specific challenges to address and a clear understanding of what they aim to gain from the program. It is impressive to see that many companies are already active and well-known in international markets. We eagerly anticipate tracking their progress and, through Dare to Scale, providing them with the knowledge and skills needed for exponential growth”, stated Momchil Vassilev, Executive Director of Endeavor Bulgaria.
Mentor the Young, a dedicated organization supporting the professional development of young individuals, adds another layer of value to the program by filling the open slot reserved for a company that operates for the benefit of society. This is similar to last year when the Bulgarian Startup Association was selected in this category.
Endeavor: empowering entrepreneurs to drive global impact
Endeavor, an international non-governmental organization with a presence in 40 locations worldwide, is dedicated to supporting entrepreneurs with groundbreaking ideas and businesses in their rapid expansion on a global scale.
In Bulgaria, Endeavor initiated its operations in July 2015 with the objective of expanding its reach in Europe. The Bulgarian office has since supported over 100 entrepreneurs from more than 50 companies through three distinct programs: the Endeavor Global Program, Regional Support Program, and Dare to Scale.
These entrepreneurs have not only generated over €163M in revenue over the past year but have also contributed to the creation of more than 2,300 jobs.
Here are all the participants in the 2023 Dare to Scale program:
Abraxa Group: A platform that streamlines the management of port visits, facilitating efficient data exchange between agents, shipowners, and traders.
Augment: It utilizes artificial intelligence to extract data from video games, offering a scalable platform for game publishers to monetize their data and create AI-powered gaming products. Read more about Augment and their partnership with Riot Games in our article with insights from Tim Petrov, CEO.
Barin Sports: Develops an integrated real-time decision-making tool for professional sports, leveraging AI to deliver a result tracking system.
Coherent Labs: Offers “Gameface”, an HTML5-based game UI engine that enables gaming studios to develop modern, cross-platform, high-speed user interfaces.
Cohones Grandes: A Bulgarian brewery focused on supporting local brewers and promoting the craft beer culture domestically and internationally.
DA International Group / AlphaVPS: Specializes in IaaS solutions, providing server and cloud infrastructure tailored to individual users and corporate clients.
Mentor the Young: A 3-month mentorship program for youths, offering consultancy services to support professional development and improve organizational culture.
MyCFO: Provides outsourced financial services that optimize and automate financial management processes for small and medium-sized businesses, startups, and solo traders.
Petmall: A rapidly growing online and physical pet store chain dedicated to fostering a better pet care culture in Bulgaria.
Price International: Develops software platforms for business communications, offering virtual phone systems and contact center solutions under the Callflow brand. They also integrate various communication channels through Omnilinx.
Re:Gena: A biotechnology company specializing in functional genomics and personalized medicine solutions for healthcare professionals, clinics, and end-users.
ViaBank: Provides infrastructure for in-house payment processing in the physical retail sector, leveraging open banking technology and direct bank transfers to reduce transaction costs for merchants. Read more about ViaBank and its founder Oggy Popov’s journey in the FinTech industry here.