The Bulgarian office of the global network Endeavor selected entrepreneurs from 10 Bulgarian companies for the third edition of the growth program Dare to Scale. The program, with the main partner Postbank and the support of Software Group and the Executive Agency for Promotion of Small and Medium Enterprises (BSMEPA), is aimed at entrepreneurs and businesses that have already passed the early phase of their development and are at the beginning of the business expansion.
The ten selected companies are represented by 17 entrepreneurs – founders of the business. Almost half of them are women entrepreneurs, and three of the companies are run entirely by women. Among the participants are representatives of various industries – four of the companies are from the IT and software sector, two from the healthcare and pharmaceutical sector, and the rest are in the field of trade, agriculture, and services.
All companies meet the pre-set criteria – to have a proven product or service on the market, a turnover of at least BGN 200,000 (approx. 102 238 EUR) for 2020, and no more than 150 employees. The selection of entrepreneurs is realized by mentors of Endeavor and managers of Postbank, Software Group, and BSMEPA. The main questions during the interviews were related to the companies’ growth strategy, business model, and leadership potential.
THE PROGRAM STARTS IN SEPTEMBER
“At each new stage of its development, Dare to Scale gives us confidence that we are creating real value for the entrepreneurial environment in our country. The ambitions and potential of the participants this year are impressive and for us, it is extremely important to stand on the side of good ideas, to encourage them and help them in their desire to reach new heights. The ecosystem is evolving at an extraordinary pace, and the synergy between the participants is remarkable. Our observation is that more and more entrepreneurs enter it with the feeling that success is not an individual effort, but depends on the interaction between them. We believe that this attitude generates the right energy for the development of the environment and we at Postbank are ready to actively participate and invest in this positive dynamics of events.” said Petya Dimitrova, the CEO and Chairperson of the Management Board at Postbank.
The program will officially start in early September and will last 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 support them with their expertise. Participants will be able to participate in physical and virtual events, during which they can exchange experiences and get acquainted with the basic players in the entrepreneurial ecosystem. The program will end with the final Demo Day event, during which entrepreneurs will present their businesses to a jury of established business leaders.
Source: Postbank’s press release from June 04, 2021