Innovation Starter Accelerator is a financing acceleration program, with a mandate to provide access to equity and quasi-equity financing to Bulgarian start-up companies with entirely private capital. The accelerator is powered by the team of the first Bulgarian innovation agency – Innovation Starter, which owns the projects Innovation Explorer Forum and Innovation Academy as well as the support of corporate partners.
Our vision is to focus on key high-priority sectors in the local economy with potential for disruptive and scalable innovation – including healthcare, education, care for the elderly, transport and logistics, frontier digitalization, FMCG, eco-innovation – and to support their transformation through professional innovation management in high-potential start-up businesses.
Our end goals are growing these businesses to scale and establishing vertical or horizontal integration with well-established international companies and innovation leaders – in Bulgaria and internationally.
SatGeo is a project led by Bilyana Nikolova, expert with experience in the development of technological solutions in the water sector. With her team of GIS specialists, experts in the field of satellite image processing and engineers who detect failures they are developing a project that represents an innovative technology for detecting failures along impounding structures and the water distribution network in residential areas.
Investment: 48 910,38 BGN
ICT, Satelite Technologies
Pixel Company shares knowledge for geographic innovations and technologies to support educators, environmental specialists and business. We perform trainings and events dedicated to various topics in the field of geospatial technologies and Earth Observation. Find out more at: https://pixelcompanystudio.com/
Investment: 10 000 BGN [technical support].
Cardinal Bites Ltd.
Cardinal Bites is a company that produces protein products with no added sugar, with a substantial protein proportion, immune-boosting probiotic, and traditional as well as up to date flavors. The first batches are rose, bee pollen and yogurt flavored. Find out more at: www.cardinalbites.com
Invested cash: 20 115.75 BGN [10 000 BGN angel investment, 10 115.75 BGN corporate investment in company products].
Cintelly is a niche company that developed a unique software instrument with an innovative concept aimed at analyzing the activity of clients in online and offline stores, via loyalty programs. Find out more at: www.cintelly.com
EduBots is a training robot company that offers kits, including all the necessary parts for a robot and training videos, clearly explaining all the steps in the process – from assembly, through the functions of the individual components to the software. Find out more at: https://edubotsbg.com/
Nosia is a manufacturer and online shop, the leader in transferring the Bulgarian folklore into everyday garments in a fresh and modern manner. The company is being perceived as the leader in its category: Bulgarian garments with the so-called “shevitsa” (a Bulgarian traditional embroidery) in Bulgaria and the international market. Find out more at: www.nosiya.bg
Newly-established Bulgarian enterprises with the potential to win a leading market position in their segments that create added value for the country
Early-stage projects that have their own innovation in technology, supply process, product patent
Potential or already existing sustainable competitive advantage on a global level (brand, innovation, unique product/service, know-how, etc.)
A product or approach that undoubtedly results in improvement of the quality of life in Bulgaria
Industries: Healthcare, Care for elderly, Education, Transport and Logistics, Digitalization, FMCG, Eco-innovations
Validated approach in the key sectors of the program
Sectors attractive for foreign investments in Bulgaria
Sectors with rapid growth potential and relatively low risk in the face of a new financial crisis
Sectors with potential for structural change and innovation or market consolidation
A successful business model that guarantees growth and profitability
Well-defined strategy and growth expectations: 3x+ annually, fast scale up and internationalization potential
Potential for top 3 in the segment
Excellent professional reputation
Founders with previous startup experience and domain expertise
Knowledge of the industry and network of contacts
Strive for high commercial performance
Quick “exits” opportunity
Preference for “exit” from the investment within 5 years
In addition, the accelerator will make a precise selection and will allow funding for "early entrepreneurs" ideas as part as the Innovation Academy, which show the potential to meet the conditions of the acceleration program.