On December 9, for the third year in a row, Demo Day was held - the final event of Endeavor's growth program - Dare to Scale, with the main partner Post Bank and supported by Software Group and the Executive Agency for the Promotion of Small and Medium Enterprises (IANMSP). The program is aimed at companies that have passed the early phase of their growth and helps entrepreneurs build the knowledge and skills needed to expand their businesses. In this year's edition, 20 entrepreneurs from 10 companies were selected, with nearly 40% of the participants being women, and three of the companies being entirely led by women.

The program ran from September to December 2021, during which entrepreneurs went through workshops and one-on-one mentoring sessions led by successful business leaders from the Endeavor network. Among the speakers were the creators of Telerik - Vasil Terziev and Svetozar Georgiev, the co-founder of the recently sold REMIX - Lyubomir Klenov, the founder of Telelink - Lyubomir Minchev, the entrepreneur Deyan Vitanov and others. The training covered topics where most companies face challenges - sales, business planning, raising capital, and managing the organization. The program was held in Sofia, with a total of over 30 mentors and board members from Endeavor's local network sharing their experience in over 50 individual mentoring sessions and 7 workshops.
Demo Day was held entirely online with the media partnership of Forbes Bulgaria, Bloomberg TV Bulgaria, and The Recursive, and set the finale of Dare to Scale 2021. During the event, participants had the opportunity to present their businesses in 4 minutes before a 5-member jury, made up of established names including:
• Petya Dimitrova, CEO, and Chairman of the Board of Post Bank
• Kalin Radev, founder and executive director of Software Group
• Boyko Takov, executive director of IANMSP
• Levon Hampartsumyan – financier, Chairman of the Board of the Bulgarian Forum of Business Leaders, and former CEO of UniCredit Bulbank
• Sabina Gyosheva – co-founder of the company BY FAR

The presentation of the 10 companies was also attended by business leaders, mentors, and investors from the Endeavor network. Each company was evaluated by the jury based on growth potential, development strategy, and presentation skills, with the three companies with the highest scores awarded:

1. PARAMIDONNA, founder: Donika Ancheva
2. Racebox, founders: Rosen Kolarov, Vasil Kolarov
3. Two companies with equal results: StorPool, founders: Boyan Ivanov, and Boyan Krosnov; Reverse, founder: Dr. Rositsa Dencheva

Award-winning companies will receive additional one-on-one mentoring sessions from the Endeavor network, media coverage on Bloomberg TV, premium membership to The Recursive's Growth Club, and an invitation to Endeavor's annual cocktail party.

Petya Dimitrova, CEO, and Chairman of the Management Board of Postbank:
"For the third year in a row, Dare to Scale proves its value and influence by investing in the potential of 10 of the most promising scale-up companies in our country. Postbank is part of the entrepreneurial ecosystem and this is undoubtedly the model we want to impose when we talk about the development of the business environment. We are happy that entrepreneurs have once again infatuated us with their spirit, ambitions, and confidence that any venture is possible, regardless of its scale. And our mission in this inspiring journey has been to add invaluable experience and knowledge that ensures stable growth. In the search for the formula for success, everyone participates with their special role, and we are grateful that we can contribute to the Bulgarian business becoming even more competitive and profitable."

Kalin Radev, founder and executive director of Software Group:
"I am happy for the third year in a row to share the experience of Software Group with such interesting companies, a large part of which are represented by female entrepreneurs. The diversity is evident not only in the management of the businesses but also in the different business sectors of the participants. I congratulate all participants and winners of the Dare to Scale program and believe that the mentoring sessions and training will give them the energy and support they need to scale and succeed.”

Boyko Takov, executive director of IANMSP:
“This is the third year in a row that we have gotten behind Dare to Scale, and for the third year in a row, I've been blown away by the progress of every company that's gone through the program. It has been extremely inspiring to watch their development and I am sure that in the future we will hear positive news about their positioning in the international markets. I thank Endeavor Bulgaria for organizing the program, which has established itself as one of the best in our country."

Momchil Vasilev, Executive Director of Endeavor for Bulgaria:
"Now in its third edition, Endeavor's Dare to Scale program has established itself as the platform that gives entrepreneurs who have already found their way to market that initial push of acceleration that can propel them into the high orbit of success." This year's participants showed a lot of drive to develop and engage with the speakers and mentors in the program. We owe them special thanks and appreciation for the energy and time they invested. We are proud of the growing Dare to Scale community in Bulgaria, and from next year in the region as well."

For Endeavour
Endeavor is an international non-governmental organization with offices in 40 locations, helping entrepreneurs with big ideas and businesses to grow rapidly internationally. Endeavor entrepreneurs have the potential to change their countries and the world – they can be key factors in long-term economic growth, job creation, and innovation. Endeavor provides selected entrepreneurs with access to markets, capital, and talent in its network of over 4,000 mentors and investors worldwide.

In Bulgaria, Endeavor started its activities in July 2015 to expand the organization's presence in Europe. To date, the Bulgarian office has supported 100+ entrepreneurs from 50+ companies, who have created over 2,300 jobs and generated revenues of BGN 320 million for the past year. More information could be found at www.endeavor.bg