• Open call for applications to EBRD Star Venture programme for high-potential startups in Bulgaria until 20 March 2025

• The programme offers grants for strategic business advice worth ?40,000, including workshops, mentoring and access to finance
• Selected startups gain access to an intensive 24-month programme for growth and expansion

The European Bank for Reconstruction and Development (EBRD) is launching itsinBulgaria, offering comprehensive support for high-potential startups.Applicationsare now open until 20 March 2025.

Around 15 startups will be shortlisted to take part in an in-person pitching event, where they will showcase their business to a distinguished panel. Six finalists will be selected to join a 24-month programme that includes:

• strategy workshops: online sessions with Cambridge University to refine strategy and advisory needs

• business adviceworth up to ?40,000: customised, hands-on advisory services from local and international consultants

• world-class mentoring: access to more than 1,500 expert mentors via the digital platform Dosen

• access to finance: investor pitch events, networking and tailored fundraising support

• access to markets: opportunities to attend conferences and trade shows and to meet potential partners

• cloud credits and e-learning: free cloud credits and e-learning resources from Coursera, Amazon and Microsoft.

The tailored business advice covers key areas such as strategy, marketing, operations, technology, innovation and quality management, helping startups scale up their operations effectively and achieve international standards. Businesses can receive professional guidance on financial planning and strategic partnerships, develop digital marketing strategies, implement enterprise resource planning and customer relationship management systems, and prepare for international certifications such as ISO.

Eligible start-ups must be majority privately held and locally owned, with a scalable business model. They should meet the European Union's definition of a small or medium-sized enterprise, have been registered within the past 10 years, generate annual revenues of under ?1 million, and be prepared to pitch their business at an event on 7thof Aprilin front of a jury and other like-minded start-ups.

The EBRD's Star Venture programme supports promising startups, accelerators and consultants and is active in 26 of the Bank's countries of operation and to date has supported over 550 early-stage companies.

"We're excited to launch the Star Venture programme in Bulgaria," said Manuela Naessl, EBRD's Head of Bulgaria. "This initiative has already seen great success in other countries, and we can't wait to bring that momentum here. Start-ups are vital to the entrepreneurial ecosystem, and we're committed to equipping them with the right tools to grow, scale, and attract investors."

The programme is funded bythe EBRD's Small Business Impact Fund(whose donors are Ireland, Italy, Japan, Luxembourg, Norway, South Korea, Switzerland, Sweden, the United States of America and the TaiwanBusiness-EBRD Technical Cooperation Fund).