Innovation Accelerator

ESG

Introduction

In case you are a user of the website https://accelerator.bg/, please read these General Terms and Conditions carefully, and in case you have any questions, it is advisable to contact the owner of the website (Innovation Starter Box Ltd.). Also, if you do not agree with any of the terms and conditions contained in the terms and conditions, we do not recommend using the website.

Definitions

The following terms used in this document will have the following meanings:

1. “The Website” – The owned by Innovation Starter Box Ltd. website: https://accelerator.bg/;

2. “The Company” – Innovation Starter Box Ltd., with UIN 202912458;

3. “FSCA” – Financial Supervision Commission Act of the Republic of Bulgaria;

Ownership

This website is owned by Innovation Starter Box Ltd., with UIN 202912458. The Company, registered in the register under Art. 30, para. 1, clause 7 of the Financial Supervision Commission Act as a “manager of alternative investment funds” (Registration Letter No 572 – MAIF, 4.08.2020) and operates under the supervision of the Financial Supervision Commission of the Republic of Bulgaria.

Address for correspondence: Sofia 1784, 111 Zh Tsarigradsko shose Blvd., Sofia Tech Park.

Email address: office@innovationstarter.bg

The contents of this website and the technologies used therein are protected by the Copyright and Related Rights Act. All types of text, graphics, photo and video materials published on the website are owned by Innovation Starter Box Ltd., unless otherwise stated.

Information concerning policies in relation to Regulation (EU) 2019/2088

DISCLOSURE in relation to REGULATION (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector (the Disclosure Regulation) and REGULATION (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (the Taxonomy Regulation).

By Innovation Starter Box Ltd., in its capacity of an alternative investment fund manager: Innovation Starter Box Fund KD.

This documents presents the approach of Innovation Starter Box Ltd. to the responsible investment and ESG (environmental, social and governance) risk or sustainability risk management in its investing and operating activity.
Innovation Starter Box Ltd. makes investments subject to the conditions and restrictions of the investment strategy of the funds managed by the company. The aim of the fund manager is sustainable investments in undertakings from various sectors of economy, as priority, considering the investment strategy, is given to FoodTech, EduTech, HealthTech, etc., and companies offering solutions related to climate changes.

Although Innovation Starter Box Ltd. follows the best management practices and takes into account the adverse impacts on the sustainability throughout the entire investment process, it does not presently apply a certain methodology and criteria, which evaluate sustainability risks, in its investment decision-making process. Innovation Starter Box Ltd. hereby informs that the funds managed by it are not sustainable and responsible investment funds, in accordance with Article 8 (1) or Article 9 (1), (2) or (3) of Regulation (EU) 2019/2088, and in this sense, the investments in the funds are not conformed with the EU criteria for ecologically sustainable economic activities. Innovation Starter Box Ltd. applies a sustainability risk integration policy in accordance with Regulation (EU) 2019/2088 as it tries to ensure that the portfolio companies comply with the same policy. Innovation Starter Box EOOD does not apply a certain methodology and criteria for taking into account the adverse impacts of investment decisions on the sustainability factors in the investment decision-making process for the following reasons: at the date of adoption of the Sustainability Risk Policy, the full technical standards package to Regulations (EU) 2019/2088 and 2020/852 is not adopted; at the same date, there is no methodology for assessing the impact on the sustainability of the activity of the companies from the portfolio of the funds, as well as specific and pre-set criteria assessing the sustainability risks, which are in line with the European regulations. Once these reasons are no longer present, Innovation Starter Box Ltd. will, if necessary, revise its policy on the sustainability risk assessment integration in its investment decision making process. Innovation Starter Box Ltd. will provide up-to-date information for its sustainability risk integration policy on its webpage www.accelerator.bg. Innovation Starter Box Ltd. encourages all the parties concerned to contact it on any matters related to a possible negative environmental, social and governance impact caused by the activity of the funds or portfolio companies on the following URL: www.accelerator.bg.

In addition, we believe that the adoption and consistent application of the Ecological, Social and Governance (ESG) standards is a significant part of the long-term success of every business. In line with this belief, we have made a public commitment to officially include the ESG criteria in our investment process.

As a candidate member since 2022 of the UN Global Compact, a strategic initiative intended to encourage the business to adopt sustainable policies through the application of ten general principles comprising environment, anti-corruption, human rights and labour standards. With around 10,000 corporate members from more than 145 countries, we not only support the 10 principles of the Global Compact, but we also commit to integrate them in the companies we invest in.

In addition, Innovation Starter Box Ltd. is a member since 2021 of the community of the biggest public-private innovation partnership in Europe EIT Climate-KIC, which share its good governance practices and expertise with our companies — end beneficiaries.

Sharing the best practices among the companies in our portfolio is a way to help the various companies to develop and improve their sustainability programmes. The diminishing resources, the changing consumers’ requirements and the intensified regulation are expected to create, in combination with the climate changes, bigger challenges, but also to open new opportunities. This is why the companies that carefully manage ESG risk, comply with the ESG standards and are open to innovations today, should be better positioned tomorrow.

Innovation Starter Box Ltd. is committed to be a socially responsible investor and to support the best ESG practices in our industry. Our team’s aim is to retain its attentive approach to the ESG opportunities and challenges it faces but it will also continue searching for new ways to create value for our partners, companies, investors.

15.04.2022, Sofia