10 companies to participate in Endeavor’s Dare to Scale growth programme
40% this year’s entrepreneurs are women
14 June 2021
The Bulgarian office of the global network Endeavor has selected entrepreneurs from 10 Bulgarian companies for the 3rd edition of Dare to Scale growth programme. The programme is implemented with Postbank as a main partner, and the support of Software Group and the Executive Agency for Promotion of Small and Medium Enterprises (BSMEPA). It is designed for entrepreneurs and businesses that have already passed their early growth phase and are starting to scale up.
The 10 selected companies are represented by 17 entrepreneurs – their founders. Almost half of them are women, as three of the companies are run only by women. The participants include representatives of various industries – four of the companies operate in the IT and software sectors, two – in the healthcare and pharmaceutical sectors, and the rest – in the fields of trade, agriculture and services.
All companies met the following preliminary criteria – they must have a product/service established on the market, a turnover of at least BGN 200,000 for 2020 and up to 150 employees. The entrepreneurs are selected by Endeavor’s mentors and managers from Postbank, Software Group and BSMEPA. The main questions they had to answer during interviews were related to their companies' growth strategy, business model and leadership potential.
The programme will officially start in early September and will take four months until December. Entrepreneurs will undergo 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 will offer them their expertise. Participants will be able to join in-person and virtual events, during which they will be able to exchange experience and get acquainted with the main players in the entrepreneurial ecosystem. The programme ends with a final event, called Demo Day, at which entrepreneurs will present their businesses to a jury of established business leaders.
Momchil Vassilev, Executive Director of Endeavor Bulgaria:
"Launching its 3rd edition, Endeavor's Dare to Scale programme has established itself as an important part of the Bulgarian entrepreneurial ecosystem. We were impressed by the number and quality of the companies that applied this year and the selection of the 10 finalists was not an easy task. It is an exciting challenge for Endeavor Bulgaria team to be part of their growth and to contribute to their even greater future success. I am really happy to see the increasingly noticeable presence of ladies as leaders of successful entrepreneurial projects both in the programme and in the Bulgarian entrepreneurial environment. I would like to express my gratitude especially to our partners, as well as to all mentors from the Endeavor network in Bulgaria, for their trust, support and active participation, without which this programme would not have been possible. "
Petia Dimitrova, Chief Executive Officer of Postbank:
"At each new stage of its development, the Dare to Scale programme gives us confidence that we are creating real value for the entrepreneurial environment in Bulgaria. The ambitions and potential of this year’s participants are impressive, and we deem it extremely important to support good ideas, to encourage and help them in their strife to reach new heights. The ecosystem is evolving at an extraordinary pace, and the synergy between the participants is remarkable. What we have noticed is that more and more entrepreneurs are entering it with the feeling that success is not an individual effort, but depends on the interaction between them. We believe that this attitude creates the right energy for the development of the environment and Postbank is ready to actively participate and invest in this positive dynamics of events."
Kalin Radev, founder and CEO of Software Group:
"I would like to congratulate the new participants on their courage and ambition to be part of the Dare to Scale 2021 growth programme. Entrepreneurship is a journey that comes along with many challenges, but also many moments of satisfaction and growth. On behalf of Software Group and together with other mentors, I am happy to support Endeavor's mission, and work together to support future business leaders.”
Boyko Takov, Executive Director of BSMEPA:
"For the third year in a row, we have supported the Dare to Scale programme because since its launch, it has established itself as one of the most successful programmes for business development in Bulgaria. This is evidenced by the results of the participants, some of whom are already well positioned on the global markets and are finding investors and partners. In the last two editions, we saw excellent examples of Bulgarian companies that showed that they are ready not only to operate globally, but also to be leaders in their field thanks to with great business ideas and the right support from experts and mentors in Endeavor’s programme. The current selection is more than good and I expect this to be the strongest edition of the programme. "
Brief description of the selected companies in Dare to Scale 2021:
CHILDISH – a software development company focused on Python-based solutions. It offers services for overall software development, and also builds and manages dedicated teams.
Dexycon – a company developing modular mobile business solutions in several areas: digital calling cards, shortening the distance between business and customers. The company develops both B2B and B2C mobile applications.
DECIBEL – engineering and production company, founded in 2012 in Sofia. Today, it is one of the largest manufacturers of sound insulation and acoustic solutions available on over four continents.
Fidelis Research – a venture of Veselin Stefanov – a professional with extensive experience in the CRO industry. Fidelis also implements projects related to testing new biomarkers and medicines.
National Archives – provides outsourcing services for overall document and data management, physical organization, storage, scanning and indexing, data entry and destruction.
TechnoFarm – agricultural software developed by experts and aimed to support farmers’ activities through precision and digital agriculture technologies.
PARAMIDONNA – swimwear and beachwear company, established in 2015 by Donika Ancheva. The company specializes in the production of luxury goods and offer a wide range of products.
REVERSE – a dermatological clinic and medical centre, established in 2017, specializing in clinical and aesthetic dermatology. The company is constantly growing by over 10,000 clients a year.
StorPool – a software company developing storage solutions used big cloud service companies.
Shkolo.bg – provides software solutions to reduce red tape in Bulgarian schools and increase the involvement of parents and students.
Endeavor is an international non-governmental organization with offices in over 40 markets that helps entrepreneurs with big ideas and a business grow quickly internationally. Endeavor’s entrepreneurs have the potential to change their countries and the world – they may be a key factor for long-term economic growth, opening of jobs and innovations. Endeavor provides the selected entrepreneurs with access to markets, capital and talents in a network of over 4,000 mentors and investors on a global level. Endeavor Bulgaria launched its activities in July 2015 in order to expand the organization’s presence in Europe. To date, the Bulgarian office has supported over 70 entrepreneurs from over 40 companies that have opened over 1,700 jobs and generated revenue of BGN 320 million in 2020. www.endeavor.bg.