A national competition for financing startups is looking for the best ideas and teams in Bulgaria


The Innovation Capital Equity Fund launches its long-awaited accelerator program with events in Sofia, Plovdiv, Burgas, Varna and Veliko Tarnovo

A national start-up competition will give innovative projects a chance to be funded in their first stage of their development. The Innovation Capital private equity fund has launched its long-awaited accelerator program – XLRadar, which will support startups. Entrepreneurs from all over the country can apply and get the chance to present their projects to the Fund’s team and win an investment of 25,000 euros, according to Innovation Capital.

The competition will be held in 5 cities and starts in Sofia this Thursday, June 18. In the next few days, the competition of ideas, teams and promising business plans of the start-up companies will be held in Plovdiv (June 23), Burgas (June 26), Varna (June 27) and Veliko Tarnovo (June 29).

During the events, the experts of Innovation Capital will present the conditions for financing the companies, and the candidates will receive feedback on their business plans. The best projects will be invited to entrepreneurship camps, where the Fund’s team, mentors and experts will help startups to improve their business models. Each of these camps will end with a demo day with presentations of the distinguished teams, as well as the five winners of the competition in cities, which will be admitted directly to this phase. The prizes of the demo days will include a direct investment of 25,000 euros, an invitation to participate in the XLRadar program and a number of other funding opportunities.

XLRadar is an intensive practical quarterly program that tests the ability of companies to establish themselves as a sustainable business. The Innovation Capital team will monitor the progress of each company and will offer mentoring, advice and other services related to the challenge of the start-up business and its transformation into a sustainable company.

The national competition for start-up companies of Innovation Capital on dates:

Sofia – June 18
Plovdiv – June 23
Burgas – June 26
Varna – June 27
Veliko Tarnovo – June 29

Entrepreneurial camps:
Burgas – July 3-5
Sofia – July 13-17

Who can apply?

Anyone with a validated scalable business project, regardless of sector.

Where can I apply?

On the following application form https://iabulgaria.typeform.com/to/BSNeBB

Where can I read more?

Information about the accelerator program and its accompanying events can be found on the website of the Innovation Capital Fund https://www.innovationcapital.bg/accelerator

For Innovation Capital

Innovation Capital AD is a venture capital fund amounting to EUR 15.6 million with a mandate to provide access to equity and quasi-equity financing of start-up companies for over 200 companies. He was selected as a fund manager by the Fund of Funds to manage a resource of EUR 14 million under the Operational Program “Innovation and Competitiveness” and additional private capital of EUR 1.6 million.

The company’s vision is focused on key high-priority sectors in the local economy with high potential for innovation and supporting their transformation through professional innovation management in high-potential start-up and scale-up businesses. The growth of these companies and the establishment of vertical or horizontal integration with established international partners and leaders in innovation is the ultimate goal of the Fund. The Acceleration and Start-up Fund is aimed at increasing competitiveness, supporting innovation activities, a business-friendly business environment and improving access to finance for small and medium-sized enterprises.

Innovation Capital AD is the managing company of the Innovation Accelerator Bulgaria Fund KDA Fund, which is co-financed by the European Regional Development Fund.

The entire responsibility for the content of the document rests with Innovation Capital AD and under no circumstances can it be assumed that its content reflects the official opinion of the European Union, FMFIB EAD and Innovation Accelerator Bulgaria Fund KDA

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