22 startups and SMEs join the second edition of the program for stimulating and promoting the growth of Bulgarian companies - beamuplab
. The new companies
are predominantly from the technology sector with main activity as software development, fintech, agritech, data analysis, media monitoring, e-commerce and others. Organic production is another well-represented industry in the current selection.
70% of companies have successfully passed at least one round of financing by venture capitalists, having raised more than BGN 70 million so far. The program will also include the company that realized the largest Series A round in the history of the Bulgarian entrepreneurial ecosystem - Payhawk.
The average amount (calculated as a median value) of the revenues of the companies-participants in beamuplab vol.2
is about BGN 1.5 million, as the average revenue growth for the last 3 years is over 70%. More than half of the companies report revenue growth in the challenging 2020, which is a very good testament to their performance.
„We are happy that beamuplab
gives concrete benefits to start-ups, small and medium-sized companies, and their evaluation of the program is very positive. This motivates us to develop it through new knowledge and leading practices, and to enrich it with leading European and Bulgarian partners, so that companies are in a vital ecosystem that catalyzes their success.“, said Assoc. Prof. Manyu Moravenov, CEO of the Bulgarian Stock Exchange during the closing ceremony of the first edition of beamuplab
At the ceremony, BSE and its partners awarded the best performing companies from beamuplab vol.1
in the following six categories: Super Star for overall achievements - EnduroSat; Moon for Investors for a company that impressed investors - Software Group; Sun of Community for services important to society - eBag; Green Star for green Innovation - Nasekomo; Favorite Star for the audience's favorite company - Baldaran Spring and beamUp Star for the upcoming debut on the BSE‘s beam market - Smart Organic. The Exchange awarded four companies with a one-year subscription to the international investment platform Deutsche Börse Venture Network®
: EnduroSat, eBag, Nasekomo and Software Group. All 20 companies received a certificate and an electronic badge for successfully finishing the program.
Among the official guests of the event were Monika Dimitrova-Beecher - Deputy Minister of Finance, Martin Gikov - CEO of the Fund of Funds, Tsanko Arabadzhiev - CEO of the Bulgarian Development Bank, Gergana Stamenova - Representative of the Small Business Support Program at the European Bank for Reconstruction and Development.
The hosts of the ceremony were the top journalists Hristo Nikolov from Bloomberg TV Bulgaria and Eneya Georgieva from Forbes Bulgaria magazine.
You can download photos from the ceremony