BDB will partner a new programme for development of startups and SMEs

04.11.2020 BDB will partner a new programme for development of startups and SMEs

Experts from the Bulgarian Development Bank (BDB) Group will participate as mentors in the beamUp lab programme created on the initiative of Bulgarian Stock Exchange (BSE). For one year the companies included in it will get familiar with different opportunities for financing in Bulgaria so that they can successfully carry out their new objectives. They will be able to exchange experience and business practices that work under the mentorship of highly qualified experts from the partnering organizations and institutions. Among them are BDB, the Fund of Funds, European Bank for Reconstruction and Development, Bulgarian Association of Licensed Investment Intermediaries (BALII) and ВESCO.
The first 20 participating companies have been selected after studying the growth potential of 1,500 Bulgarian companies as per a methodology Bulgarian Stock Exchange.

The experts from two subsidiaries of the bank: Microfinancing Institution Jobs and the Capital Investments Fund will be mentors at the second meeting under the beamUp lab programme.
Microfinancing Institution Jobs was founded 10 years ago by BDB and it focuses mainly on micro, small, and medium-sized business, agricultural producers, craftsmen, and cooperatives. Among its most important functions is the support for startup enterprises with no background. Commercial banks are often skeptical about the projects of the starting entrepreneurs while Microfinancing Institution Jobs offers two programmes especially for them in addition to its other credit products. So far more than 510 micro and small companies have implemented their business plans with the aid of the company as one in five supported companies is a startup.

Two years ago, the bank established another subsidiary - the Capital Investment Fund, and interest in its activities is growing. Some of the participants in the program are already in the process of negotiations for equity investments in their business.

The portfolio of BDB’s financial group abounds in examples of successful small- and medium-sized enterprises in all areas of economy. By it participation in this initiative its experts can give the companies the necessary guidelines and courage as well as to deepen their partnership with them.
The initiative is conducted under the aegis of the Ministry of Finance and the ranking of the participating companies will be announced in the end of it. Each of them will receive a certificate and an e-sign or good business reputation and successful business development model.

You can find more information about beamUp lab and the companies included in it at www.beamUplab.space

 

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