19 founders from 11 companies are joining this year’s edition of Dare to Scale. Today we are presenting BESCO, a non-governmental organization that connects startups, private and institutional investors, government, and other stakeholders in the entrepreneurial ecosystem.
What problem does your business solve (how did you start, what was the initial motivation)?
BESCO was founded by entrepreneurs who, in 2018, looked around and saw what it is like to do business in Bulgaria – outdated legislation, heavy regulations, misunderstanding administration, big companies focused on the domestic market, which profits from politics through funds and public procurement and destroys its competitors. We decided to change all this so that more entrepreneurs have a chance to succeed, to give a path to technology – our only bridge to the developed world, to build a new kind of culture in Bulgarian business not of individual but of joint success and mutual help.
BESCO exists to improve access to talent access to capital and to make it easier to start, manage and scale innovative businesses in our country. The results we achieve impact everyone’s lives and help our economy grow.
Share with us the thing you are most proud of (what is the company’s most significant success up to date).
Bulgaria now has a chance to take billions of euros from the Recovery and Sustainability Plan thanks to what we have done. Two projects and some of the reform conditions for the money have been initiated and drafted by BESCO and are already in the National Assembly, ready for voting. These are our DPC and Startup Visa bills.
The Variable Capital Company is the most severe change to our Commercial Law in 30 years. It will level out the conditions for starting, running, and scaling a business for Bulgarian entrepreneurs with those of our European and global competitors.
BESCO’s Strut Visa is also ready to vote in the National Assembly. For access to talent, we also propose – Tech Visa and improvements to the Blue Card.
For access to capital – we helped raise the BEAM market cap to €8M. And to increase the minimum threshold for VAT registration to BGN 100K.
What are your expectations from Endeavor, with your participation in the program (briefly share what would be helpful and what would you like to achieve with your participation)?
BESCO is in a growth stage, and we believe that at Endeavor, we can improve our understanding of the processes and governance of the organization itself. We need to optimize our sales-related processes, expand our team, develop our new board, and ensure that the organization has the proper process for a succession of key people.