The fifth edition of theDare to Scale (D2S) growth program includes 22 entrepreneurs from 12 companies,which have generated a total turnover of over BGN 15 million for the past year.Like the previous year, there is an open slot for a company developing itsactivity for the benefit of society, and this year, this position is taken bythe organization Mentor the Young.

A wide variety is observedin the industries in which the participants operate. About 40% of the companiesdevelop their activity in the software and fintech industry, withrepresentatives of e-commerce, sports, F&B and others. 80% of theparticipants indicate that entering foreign markets is one of their priorities,and some of them already have a presence outside Bulgaria and are planning amore active expansion. An important indicator of the success of Dare to Scaleis the fact that this year, the selection includes an entrepreneur who returnswith a third company as a participant in the program.

The Dare to Scale growthprogram will be officially launched in September and will end in December witha Demo Day. Company founders will have the opportunity to participate in specializedtraining in key areas for the development of any scaling business:organizational management, marketing and sales, business planning and capitalraising. Each company will have access to Endeavor’s local mentoring network,whose mentors will support founders with their entrepreneurial expertise. Inaddition to them, partners and directors from the consulting company PwCBulgaria will work individually with all participants for the second year. Theywill hold regular mentoring meetings, and through their rich experience andexpertise, they will help entrepreneurs overcome key challenges and developopportunities in their businesses. Participants will be able to take part inevents during which they can meet and exchange experiences with key figures inthe entrepreneurial ecosystem.

Dare to Scale 2023 isorganized by the Bulgarian office of the global entrepreneurial networkEndeavor with the main partner Postbank and with the support of Software Group,the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA), theEuropean Bank for Reconstruction and Development (EBRD), America for BulgariaFoundation, and with capital partner SeedBlink.

Momchil Vasilev, Managing Director of Endeavor Bulgaria:

“We are observing more and more companies withpotential for global growth and entrepreneurs with systemic success, an exampleof which is Ogi Popov, entering D2S with his third company – ViaBank. Thisyear’s Dare to Scale participants are making a very strong case that they comewith specific challenges to address and know exactly what they want to get outof the program. It is noteworthy that many of the companies are already activeand recognizable in foreign markets. We look forward to following their development,and we are ready, with Dare to Scale, to equip them with the knowledge andskills for exponential growth.”

Petia Dimitrova, CEO and Chairperson of the Management Boardof Postbank:

“The fifth edition ofDare to Scale started with an impressive selection of companies, which onceagain fills us with optimism and confirms our confidence that we are creatingreal value for the entrepreneurial ecosystem in our country. With each passingyear, we meet more and more motivated companies that impress us with theirambitious growth strategies and the desire to build on what they have achieved.This is exactly where our role is because I believe that as their mentor andpartner, we can pass on invaluable expertise to them, with which we practicallyinvest in the environment and increase the development opportunities of allparticipants in it. I am happy that for another year, together, we will walkthis exciting path in which the energy of young companies and the experience ofestablished business leaders are combined in the perfect formula for success.”

Brief presentation of the selected companies in Dare toScale 2023:

AbraxaGroup –a port call management platform for ships that helps participants in theprocess (agents, ship owners, traders) to exchange data in an efficient way.

Augment– specializes in extracting data from video games using artificialintelligence. By providing a scalable platform, game publishers can monetizetheir data and create game products using AI and developer tools.

BarinSports – develops the most integrated real-time decision-makingtool in professional sports. It focuses on providing the most advancedartificial intelligence-based score tracking system in professional sports.

Coherent Labs– Their HTML5-based Gameface (game UI engine) product helps gaming studiosdevelop modern, cross-platform, high-speed user interfaces for video games.

CohonesGrandes – a leading Bulgarian brewery, known for supporting localbrewers and promoting craft beer culture on both domestic and internationalmarkets.

DAInternational Group/ AlphaVPS – a leading company in theIaaS (Infrastructure-as-a-Service) sector, specializing in server and cloudinfrastructure solutions adapted to the needs of individual users and corporatecustomers.

Mentor the Young– a 3-month mentoring program for young people up to 25 years of age. They alsodevelop a consulting service that supports employees’ professional developmentand improves the culture of organizations.

MyCFO– outsourced financial services that help streamline and automate the financialmanagement process for small and medium-sized enterprises, startups and soletraders.

Petmall– fast-growing online and physical pet stores whose mission is to build abetter pet culture.

Price International (Callflow,Omnilinx)– a telecommunications company developing software platforms for businesscommunications. Under the Callflow brand, they offer virtual telephoneexchanges and software solutions for contact centers. With Omnilinx, they bringtogether different communication channels, ensuring a smooth user experienceand connectivity between businesses and customers.

Re:Gena– a biotechnology company specializing in functional genomics and personalizedmedicine solutions offered to healthcare professionals, clinics and consumers.

ViaBank– provides the physical retail sector with an infrastructure for receivingpayments under its own control, using the technology of open banking and directbank transfers. In this way, merchants reduce the cost of card paymentsdramatically.

About Endeavor:

Endeavor is aninternational non-governmental organization with offices in 40 locations,helping entrepreneurs with big ideas and businesses to grow rapidlyinternationally. Endeavor entrepreneurs have the potential to change theircountries and the world – they can be a key enabler of long-term economicgrowth, job creation and innovation. Endeavor provides selected entrepreneurswith access to markets, capital and talent in its network of over 4,000 mentorsand investors globally. In Bulgaria, Endeavor started its activities in July2015 with the aim of expanding the organization’s presence in Europe. To date,the Bulgarian office has supported 100+ entrepreneurs from 50+ companies inthree programs – Endeavor Global Program, Regional Support Program and Dare toScale. These entrepreneurs have created over 2,300 jobs and generated revenuesof BGN 320 million for the past year. www.endeavor.bg