The Fund of Funds chose the “Morningside Hill” partnership, a company incorporated under the Obligations and Contracts Act, as a financial intermediary for the management of the Venture Capital Fund (VCF). The selected fund manager will provide public funds for management in the amount to BGN 47.1 million from the “Innovation and Competitiveness” 2014-2020 Operational Programme. Furthermore, it also commits to provide private co-funding of at least 30 % of the total amount of the investments. Thus, the stream of investments is expected to reach BGN 67 million.
The winner in the procedure specified Pavel Velkov, Ekaterina Velkova, Todor Mutafchiyski and Delyan Ganevas as key partners – a team with long experience in managing venture capital funds, with professional experience mainly in the USA and successful investments in companies in Europe, Africa and the USA.
The funds are intended for investments in high-tech, innovative small and medium-sized enterprises in an early stage of development. The financial support invested in each company will range from BGN 1.5 to 7 million. The new intermediary will also support companies to access new markets and get expertise to improve their corporate management and overall capacity.
Visa Everywhere Initiative (VEI): Women’s Global Edition, a program of Visa targeting female entrepreneurs in the fintech industry, is now open for application. Applications are to be sent until April 14 and the prize pool amounts to USD 100 000 (BGN 175 000).
Companies with a female founder and innovative solutions for transforming consumer or commercial experience in payments at local, regional or global level are eligible to apply. Projects should also have a socio-economic impact – to provide support for sustainable and equal means of living and to support local or regional economies.
Applicants from all over the world are welcome to apply. A total of six regions are identified, namely North America, Latin America, Asia-Pacific, Europe, France /a separate region/, Africa/ Middle East, and a winner from each region will be selected. The regional finalists will be selected in May and the international final in Paris will take place on June 7.
Visa Everywhere Initiative has existed for 4 years now and is dedicated to innovative commercial and payment solutions. This year, the program for the first time switches from regionally oriented initiatives to global ones and launches a project that specifically targets female entrepreneurs.
Before presenting their projects live in Paris, the Women’s Global Edition finalists will work with partners from the global network of Visa in order to polish up their ideas as much as possible. The best projects will receive a prize pool of USD 100 000 each, as well as expert mentoring and access to the company’s customers.
The European Commission’s REGIOSTARS awards for most innovative regional projects funded by the European Union are now open for application.
Potential participants may apply in 5 thematic areas:
Applications will be assessed by high-level academicians and there will also be an online vote for the Public Choice award.
The deadline is May 9, 2019. The Guide for Applicants is available here.
A grant scheme for providing ICT vouchers for micro, small and medium-sized enterprises (SMEs) will be launched under the BCCI program in partnership with BSMEPA. The move aims to promote the use of new ICT-based business models and to activate the digitization of SMEs to help their business grow. At least 450 enterprises will be given the following types of ICT vouchers: