More than 160 applications have been admitted for the national competition for innovative business ideas "Best Youth Startup of Bulgaria 2024". The number of applicants is three times more compared to the previous editions of the competition, which the Fund of Funds and the Faculty of Economics at Sofia University "St. Kliment Ohridski" are organizing for the third consecutive year. The initiative is under the patronage of the Minister of Innovation and Growth and in partnership with the Ministry of Science and Education and over 40 other organizations from the investment and entrepreneurship ecosystem.
Two-thirds of the projects entered consist of teams of 2 to 5 young people, while nearly 50 individual entrants will be seeking backers for their ideas as part of the competition. The official launch will be given by the Minister of Innovation and Growth at an opening event to be held on 26 March at the John Atanasoff Innovation Forum in Sofia Tech Park. The two-month mentoring programme, prepared for nearly 300 students and young people from the country who have sought attention from investors and opportunities to develop their ideas for a successful startup business, will also start on 20 March.
This year, over 40 organizations in the entrepreneurial ecosystem are supporting the Best Youth Startup of Bulgaria 2024. Their experts will be mentors in the dozens of webinars, workshops, mentoring sessions, trainings, gaming meetups and competitions organized according to the individual needs of the participants and the stage of their projects. In doing so, the format provides a platform with national coverage to develop entrepreneurial skills in young people and provides a stage for students and young people up to 29 years old to showcase their vision of which new technologies, key sectors and latest scientific discoveries will play a significant role in the modern world.
The innovation ideas are in a variety of sectors: biotechnology, epigenetics, artificial intelligence, agriculture, e-commerce, renewable energy and green solutions, marketing, journalism, arts, sports and leisure, health care and medical technology, chemistry, finance, human resources and more. Many of them combine a specific scientific field and the application of new technologies. Applicants share the desire to validate the value and potential of their idea as the main motivation for participating, and for those who apply with projects already running, the most attractive is the opportunity to network, gain experience from experts and the possibility of attracting funding.
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