12 Bulgarian companies from IT, software, media, real estate, and food industry are joining the fourth edition of the Dare to Scale program. The Recursive is one of them! The program is organized by Endeavor Bulgaria and is designed to assist the growth journey of ambitious local entrepreneurs.
This year, Dare to Scale program will partner with the investment crowdfunding platform Seedblink which will provide additional access to funding to the participating companies. Endeavor will also partner with the European Bank for Reconstruction and Development (EBRD). With their financial support experts from the PwC consulting company will guide the entrepreneurs how to grow their businesses.
The 12 selected companies have all met the requirements to have a launched a product or service on the market, to have a turnover of at least €100K for 2021, and to have less than 150 employees. The participants were chosen by mentors, the board of Endeavor, and managers of the supporting companies PostBank, Software Group, and the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA).
Entrepreneurs on their path of success
The 4-month-program will take place in Sofia from September to December, 2022. Each company will have an individual mentor from the Endeavor network. They will hold regular meetings with the founders and support them with their expertise. Entrepreneurs will get help with organizational management, marketing, sales, business planning, and capital raising.
Participants will benefit from networking events with key representatives in the ecosystem. On the final Demo Day, they will present their companies in front of a jury of established business leaders.
“In its fourth edition, Dare to Scale welcomes a remarkable group of entrepreneurs who are on their path to success. This year the number of applicant companies that match the criteria for participation exceeds our expectations. The selection of participants in the program reflects our belief that a strong ecosystem also needs entrepreneurs working to improve the environment, in which the “new economy” is developing. The candidates, who have gone through a careful selection procedure, reflect the diversity of our entrepreneurial ecosystem and its ever greater maturity. This motivates the Endeavor team to continue to develop the program in such a way to create even greater value for its participants”, highlights Momchil Vassilev, Executive Director of Endeavor Bulgaria.
This year, for the first time, there is an open slot for a company operating for the benefit of society, an NGO. The Bulgarian Startup Association was selected in this category.
Endeavor’s achievements in Bulgaria
In Bulgaria, Endeavor started operations in July 2015 to expand the organization’s presence in Europe. Until now, the Bulgarian office has supported 100+ entrepreneurs from 50+ companies in three programs – Endeavor Global Program, Regional Support Program, and Dare to Scale. These entrepreneurs have offered over 2,300 jobs and generated revenues of 320M BGN for the past year.
Which are the participants in the 2022 Dare to Scale program:
Appolica – a software company that develops mobile applications and offers a full range of services to create mobile products and customized solutions for companies at an early stage of development.
AvtoIkonom (by CarCentral) – a platform for combining digital services for customer assistance in automotive, insurance, and leasing industries. They provide the first digital business model “Car-as-a service.”
BESCO – The Bulgarian Startup Association – a non-governmental organization that connects startups, private and institutional investors, government, and other stakeholders in the entrepreneurship ecosystem.
C4 Nexus – an e-commerce startup that collaborates with global brands to develop and maintain some of the most elaborate solutions based on the Salesforce platform.
Flat Manager – a real estate short-term management company offering monitoring software, allowing owners to earn more easily from their properties in Bulgaria and Romania.
GridBit (ADD Bulgaria) – a company that provides solutions for monitoring and automation for energy companies, and the respective industry, to better manage their assets and activities.
Healthy Bars – a manufacturer of protein bars that has its own laboratory and a fully automated factory. The startup is export-oriented and their products are sold in more than 39 countries worldwide.
Pollenity – a technology that helps beekeepers take better care of their bees through IoT (Internet of Things) solutions. They also offer a platform that connects Bulgarian honey producers with end users.
Sofia Electric Brewing – а microbrewery, engaged in the production of high-quality beer and its distribution to Bulgaria and Europe.
Swipe BG – a Bulgarian platform for buying and selling second-hand mobile phones, which are also checked by an authorized service with an added warranty of 2 years.
The Recursive – an independent media platform that shines a light on tech innovation, entrepreneurship, and trends, in the regional ecosystems in Southeast Europe.
VEVS – a website development platform with integrated software solutions for various industries related to business management and online sales.