Nationwide EUR 25k Startup Competition kicked-off by Innovation Capital

Innovation Capital, the EUR 15.6m pre-seed fund, backed by the Fund of Funds is kicking off a nation-wide startup competition that will be held in Sofia, Plovdiv, Burgas, Veliko Tarnovo and Varna. Startups can apply to pitch their business models during the roadshow while the best performers at each city will be invited to pitch at the final demo days and compete for a guaranteed EUR 25,000 equity investment from the IC fund as well as a spot in the acceleration program XLRadar.

Building traction

XLRadar is planned as an intensive, hands-on and practical three-month long program that tests the ability of the companies to deliver, gain traction and get established as sustainable businesses. The companies that meet their KPIs will be offered a second investment of up to EUR 25,000 at the end of the program. Program details are yet to be announced in the following weeks ahead.

Early-stage Investor on the stage

Innovation Capital is a venture capital firm managing EUR 15.6m with a mandate to invest in equity and quasi-equity instruments in 200+ startup companies. It was selected by the Fund of Funds to operate a financial resource of EUR 14m through the Operational Program Innovations and Competitiveness and also attracted EUR 1.6m from private investors. Innovation Capital AD is the entity managing the fund Innovation Accelerator Bulgaria Fund KDA, which is co-financed by European Regional Development Fund.

The VC Firm’s vision is focused on high-potential start-ups and scale-ups building innovative and disruptive solutions within key priority sectors of the local economy. The early-stage fund is aimed at increasing competitiveness, supporting innovation, and improving access to finance for small and medium-sized enterprises.

Get prepared with us and apply!

Anyone with a valid scalable business idea or building a innovative product regardless of the sector could apply. Founders with more skin in the game, as well as more product and market traction will be tolerated. Contact us to discuss if you are a good fit for the EUR 25k Startup Competition and to prepare you and your project for a successful pitch!

NOVATOR is an advanced B2B intermediary supporting startups in fundraising, business development, and financial management. Our mission is to support Bulgarian high-impact projects on their way to global success. With our wide range of top-up services we are a one-stop-shop and add value all the way through the development, acceleration, and growth phases of our portfolio projects.