EBRD launches star venture programme in Bulgaria

Sofia: The European Bank for Reconstruction and Development (EBRD) is introducing its Star Venture programme to Bulgaria, aiming to support six local startups with a 24-month growth and advisory package. Applications are open through 20 March 2025, and eligible startups will pitch their ideas on 7 April, with around 15 teams shortlisted for an in-person selection.

Manuela Naessl, EBRD’s Head of Bulgaria, highlights the importance of early-stage ventures to the local entrepreneurial scene: “Startups are vital to the ecosystem, and we’re committed to equipping them with the right tools to grow, scale, and attract investors.”

The selected founders will access workshops (including sessions run with Cambridge University), mentorship, and networking events designed to assist them in building strategic partnerships. The programme also offers hands-on advisory services – valued at up to €40,000 – enabling startups to refine areas like financial planning, digital marketing, and operational management.

To qualify, companies need to be based in Bulgaria, have been registered within the past decade, record an annual turnover under €1M, and fit the EU’s small or medium-sized enterprise (SME) definition. They must be majority privately held and locally owned, with a technology or business model that can scale.

The Star Venture programme is funded by the EBRD’s Small Business Impact Fund, which includes contributions from Ireland, Italy, Japan, Luxembourg, Norway, South Korea, Switzerland, Sweden, the United States, and the TaiwanBusiness-EBRD Technical Cooperation Fund. Over the next two years, the successful applicants will receive continuous guidance, investor introductions, and access to major conferences and trade shows, aimed at propelling them toward both regional and international growth.

For budding ventures looking to expand globally, this initiative could be a valuable stepping stone. More details on eligibility and the application process are available through the EBRD’s official channels, with the 24-month programme set to kick off in May 2025.