The European Bank for Reconstruction and Development (EBRD) has introduced its Star Venture programme in Bulgaria, aiming to provide strategic support to high-potential startups. After a competitive selection process, 15 startups presented their business concepts at the Planet Schwarz Tech Theatre in Sofia, with six emerging as the final winners.

The selected startups - THE NOLD, True Insights, Predicto, Kikimora.io, Ethermind, and PharmaWorks – will each receive business advisory services valued at €40,000. Additionally, they will gain access to a 24-month intensive programme focused on accelerating their growth and expanding their market reach. The programme offers strategic workshops conducted by Cambridge University, mentorship from a network of over 1,500 expert mentors via the Dosen platform, as well as cloud credits and e-learning resources from platforms like Coursera, Amazon, and Microsoft.

The judging panel, which included prominent figures such as Manuela Naessl, EBRD's Head of Bulgaria, Dobromir Ivanov of BESCO, Momchil Vassilev of Endeavor Bulgaria, Valeri Petrov of Eleven, and Daniel Shopov of Barin Sports, evaluated the pitches and selected the winners based on innovation and potential for growth. The chosen startups operate in diverse sectors, including circular fashion, artificial intelligence, predictive maintenance, cybersecurity, AI-based education, and healthcare digitalisation.

A notable highlight of the event was a fireside chat titled "Scaling Startups – Challenges and Opportunities," which offered attendees valuable insights into overcoming common obstacles in scaling their businesses. The session fostered constructive dialogue among entrepreneurs, investors, and industry experts.

The Star Venture programme, now active in 26 countries, has already provided support to over 550 startups, aiming to strengthen local entrepreneurial ecosystems through targeted mentorship, strategic planning assistance, and access to global markets. The programme is funded by the EBRD's Small Business Impact Fund, which receives backing from international donors, including Ireland, Italy, Japan, Luxembourg, Norway, South Korea, Sweden, Switzerland, the TaiwanBusiness-EBRD Technical Cooperation Fund, and the United States.

Manuela Naessl expressed optimism about the programme's impact, emphasising its success in other countries and the potential for Bulgarian startups to achieve substantial growth. Meanwhile, Calvin Ho from Taipei China's Representative Office in Greece highlighted Taiwan’s contribution to the initiative, noting the synergies between Taiwanese technological expertise and Bulgaria’s emerging startup scene.

Source: EBRD press release