You only have a minute? Here are 3 key takeaways from the article:
• Bulgarian sports technology startup Barin Sports won the jury prize in the fifth edition of Endeavor Bulgaria’s growth program – Dare to Scale 2023.
• Founded in 2015, Barin Sports’ advanced GPS tracking system provides accurate, real-time athlete performance data, enabling comprehensive analysis and personalized training programs focused on non-contact injury prevention.
• The fifth edition of Dare to Scale saw five companies awarded in four categories, with more than 50 Bulgarian business leaders participating in the program as mentors and speakers.
Last year, Barin Sports received an investment of 2 million euros from the Capital Investments Fund (CIFund), a growth investment arm of the Bulgarian Development Bank (BDB). In June 2023, the startup also welcomed former Ballon d’Or and ex-Real Madrid star Michael Owen as an investor.
“Their determination to push the boundaries of sports technology aligns perfectly with my own passion for innovation and perfection. I firmly believe that their cutting-edge GPS tracking system has the potential to revolutionize the way we approach sports performance, training and injury prevention,” Owen said in June.
The jury evaluated the participants’ presentation according to three criteria: what is the company’s global growth potential, to what extent are the company’s strategic objectives clearly defined and how strong is the entrepreneur’s presentation? .
The jury prize was presented by the Bulgarian Minister of Innovation and Growth, Milena Stoycheva, while the jury included established business leaders from various fields, such as Asen Yagodin (Postal Bank), Kalin Radev ( Software Group), Boyko Takov (IANMSP), Miroslav Stoyanov (BERD), Sabina Gyosheva (BY FAR).
In total, five companies were recognized in four categories for their overall performance in the program: MyCFO with the “Momentum Award”, Price International with the “Conscious Steps Award”, Barin Sports and Augment with the “Collaborative Spirit Award” and ViaBank with the “Most Endeavorized Prize”.
Dare to Scale is a four-month growth program from the international entrepreneurial network Endeavor, aimed at entrepreneurs and businesses that have already passed the early stage of their development and are at the start of a broader expansion of their businesses.
“To encourage these entrepreneurs who are in the growth phase of their business, Endeavor created the Dare to Scale program 5 years ago and we are already clearly seeing the results. Companies entering and passing through the program are increasingly conscious in their search for resources, bold in their aspirations to enter foreign markets, but at the same time increasingly willing to support the ecosystem themselves through their own knowledge. Momchil Vasilevexecutive director of Endeavor Bulgaria, said in a statement.
The program was held for the fifth consecutive year and lasted from September to December, and 23 entrepreneurs from 12 companies were selected in this year’s cohort. The fifth edition saw the participation of more than fifty of Bulgaria’s top business leaders, such as Svetozar Georgiev and Kalin Radev, who joined the program for the fifth year in a row as speakers, as well as Bozhidar Neychev as PwC leader, supporting mentoring meetings between entrepreneurs and business.
Recursive was also a part from one of the previous editions of the program, having the chance to explore growth opportunities, connect with mentors from across the Endeavor network, and clarify organizational priorities.
The program is implemented with lead partner Post Bank and is supported by Software Group, the European Bank for Reconstruction and Development (EBRD), the Executive Agency for the Promotion of Small and Medium Enterprises (BSMEPA) and the Foundation America for Bulgaria.
Admissions for the sixth edition of the Dare to Scale program are expected to open in spring 2024.