Sofia supports promising business ideas worth BGN 100,000

The Sofia Municipality to launch an initiative to support promising business ideas worth BGN 100,000. This envisages the program of the Sofia Municipal Guarantee Fund for 2021, which is expected to be adopted at the upcoming session of the Sofia Municipal Council tomorrow, the press center of the Sofia Municipal Council (SOC) announced.

The initiative with the pilot title "Accelerator Startup Sofia" will promote accelerated access to funding for innovative, start-up and social entrepreneurs in the Sofia Municipality. The program will assist them in developing and presenting well-founded proposals to potential investors and financing organizations, increasing their capacity for full interaction with the banking sector and encouraging them to develop and promote innovative products and services with high added value.

The program of the Sofia Municipal Guarantee Fund for this year also envisages a guarantee commitment of BGN 1.2 million. Emphasis is placed on both quality and innovative projects and on supporting entrepreneurs affected by the COVID-19 pandemic emergency.