Innovation Accelerator is a EUR 15.6 million fund financed by the Fund Manager of Financial Instruments in Bulgaria and its founders, Leona Aslanova, Borislav Stefanov, Anna-Marie Vilamovska, Alexander Dzhoganov with the mandate to provide access to equity and quasi-equity funding to Bulgarian startup companies.
Our vision is to focus on key high-priority sectors in the local economy with high potential for disruptive and scalable innovation – including healthcare, education, care for the elderly, transport and logistics, frontier digitalization – and to support their transformation through professional innovation management in high-potential start-up and scale-up businesses. Growing these businesses to scale and establishing vertical or horizontal integration with well-established international companies and innovation leaders – in Bulgaria and internationally are our end goals.
Newly-established Bulgarian enterprises with the potential to win a leading market position in their segments and which create added value for the country
Initial development projects that have their own innovation in technology, supply process, product patent
Potential or already existing sustainable competitive advantage on a global level (brand, innovation, unique product/service, know-how, etc.)
A product or approach that undoubtedly results in improvement of the quality of life in Bulgaria.
Industries: Healthcare, Care for elderly, Education, Transport and Logistics, Media and Enterprise Software, FMCG
Validated approach in the key sectors of the fund
Sectors attractive for foreign investment in Bulgaria
Sectors with rapid growth potential and relatively low risk, in the face of a new financial crisis
Sectors with potential for structural change and innovation or market consolidation
A successful business model that guarantees growth and profitability
Clear strategy and growth expectations: 3x+ annually, fast scale up and internationalization potential
Potential for top 3 in the segment
Clear professional reputation
Founders with previous startup experience and domain expertise
Knowledge of the industry and network of contacts in it
Strive for high commercial performance
Provide opportunities for quick “exits”
Preference for “exit” from the investment within 3 to 5 years
In addition, the fund will make a precise selection and will allow funding for "early entrepreneurs" ideas, which show the potential to meet the conditions of the acceleration program.
This publication has been produced with the assistance of Operational Programme „Development of the competitiveness of the Bulgarian economy” 2014-2020. The contents of this publication are the sole responsibility of Innovation Accelerator Bulgaria AD and can in no way be taken to reflect the position of the Fund Manager of Financial Instruments Bulgaria, European Union or Bulgarian Government.