Creating entrepreneurs – The new season of 3Challenge

As you may know, i am the current president of Start It Smart – One of the biggest entrepreneurship clubs in Bulgaria.

Since the beginning of the club (4 years ago), all of the members shared one vision & mission – to create entrepreneurs (Including ourselves)
The flag event of Start It Smart, without any doubt, is 3Challenge – a contest of 3 parts (Idea, Seed, Grow) for innovative business ideas, where we look for people who have innovative ideas but no business/entrepreneurship skills.

Idea 2013

Idea 2013

And before promoting the new season & calling you to action to apply, i want to share some thoughts on the Bulgarian Startup Ecosystem and the topic of creating entrepreneurs.
If we take a look at the second calls of Eleven and LAUCNHUb (The funds that give seed money, up to 25K EUR), we can find that less than half of the teams are from Bulgaria.
And no, I am not going to say that this is bad (Actually, i think it’s good to have foreign startup presence, since this is a learning process for us) but I want to say that the trend is bad.
If we take a second look at the funded companies, we can see that the funds are looking for more mature companies and teams.

So here goes the question – In how many calls from LAUNCHub and Eleven, they are going to exhaust the mature companies and teams ? I say 2 more ..

There is a demand for good companies, and very few players are trying to keep up with it.
In order to address this problem and to keep up with the demand, we decided to make some changes for this year’s 3Challenge:

  • From once a year, we are doing two 6-months cycles, which means, two 3Challenge for one year.
  • Pitching will be done entirely in English. If you want to get VC money, you must speak english.
  • Start It Smart members will be involved more in the mentorship process, since we are always close to the companies and have a lot of knowledge.

We are targeting people, who are not ready yet to pitch in front of the funds.
With the success of GameCraft, betahaus Sofia, MaistorPlus and Eventyard (All participants of the previous 3Challenges), I can say that we can help you turn a good idea into a good business and be ready to receive an investment.

With the entire mix that we are planning for 2013, we are aiming to create at least 200 entrepreneurs.

Call to Action

I want to call you to action, to watch the video below, and send it to a person you believe will benefit from participating in Idea – the first event from the first 3Challenge for this year.

For more information, visit the apply page or watch me pitch [In Bulgarian] at the Tuk-Tam’s event:

Write us your thoughts about this post. Be kind & Play nice.
  1. Pavel says:

    Nice. В презентацията стрелките не са с еднакъв наклон 🙁 Idea -> Seed -> Grow…


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