The applications are now open for the third edition of the national competition "Best Youth Startup in Bulgaria." The competition is organized by the Fund of Funds and the Faculty of Economics and Business Administration at Sofia University "St. Kliment Ohridski" and under the patronage of the Minister of Innovation and Growth and the Rector of Sofia University. Youth candidates from across the country can apply through the competition's website https://www.startup-competition.fmfib.bg/ until March 15.
"Best Youth Startup in Bulgaria 2024" will once again provide individuals or teams with the opportunity to develop their innovative ideas, showcase entrepreneurial skills, and gain valuable experience in the startup ecosystem through a 10-week mentorship program before the final presentation of their ideas. Students and young people nationwide up to the age of 29, as well as 11th and 12th-grade students with innovative business ideas, are eligible to participate. Projects at all stages of development – ideation phase, early or advanced stages – are accepted.
The competition will conclude on May 31 with the presentation of the top ten concepts to the competition partners at the Aula of Sofia University. Participants admitted to the competition will undergo numerous webinars, workshops, mentorship sessions, training, gaming meetings, and competitions tailored to individual needs, project stages, age, and sector. A valuable opportunity is also provided for establishing business contacts within entrepreneurial, academic, and scientific communities and attracting like-minded individuals to realize their ideas.
The initiative, held for the third consecutive year, attracts projects from young people across the country. The competition serves as a springboard for successfully implementing business plans in all sectors of the economy and aims to enhance the entrepreneurial culture of young people in Bulgaria, including idea generation and development, business planning, marketing, investor presentations, and more. In its first edition in 2022, the competition attracted 36 projects, and last year, there were over 50 participants, including students or graduates from 17 Bulgarian and 7 foreign universities. High school seniors from 7 Bulgarian high schools were also admitted. The competition has supported the acceleration of ideas from various fields, including fintech, e-commerce, recycling, virtual reality, artificial intelligence applications, electromobility, education, agrotechnology, urban agriculture, career development, civil society, architecture, creative activities, and more. The strongest projects received direct investment or successfully attracted funding at a later stage.
Among the successful companies discovered through "Best Youth Startup in Bulgaria" and making progress in their development are Vodoraslo, Vavakada 3D, Foodobox, Agron, Young Inventor, Anti-tremor glove, PosseyPay, and others. Some of them already represent Bulgaria's innovative potential at international exhibitions such as Web Summit and Slush, including participation in the SOR-28.
This year, the organizers, Fund of Funds and Sofia University "St. Kliment Ohridski," are expanding the initiative's scope with a longer application and training period. The initiative has attracted even more organizations as partners – over 30 funding institutions, funds, sectoral associations, organizations from scientific and academic communities, and more.
Additional information and the application link are available on the website: www.startup-competition.fmfib.bg
Information about participants and winners in the first edition is published here: https://www.fmfib.bg/bg/news/199-priklyuchi-natsionalniyat-konkurs-za-naydobar-mladezhki-startap-2022
Information about participants and winners from the second edition is published here: https://www.fmfib.bg/bg/news/240-tehnologichni-proekti-vav-finansi-meditsina-i-retsiklirane-finishiraha-v-natsionalniya-konkurs-%E2%80%9Enaydobar-mladezhki-startap-2023%E2%80%9D
