Innovation Capital partners with Sirma to help founders bring products to market
Sirma Group Holding JSC ("Sirma") has opened admissions for its incubator Sirma Venture Lab, which aims to help startup founders build a great product. We are happy to announce that we are partners to the program. The participants will receive technical support from Sirma from the first day and will have access to an investment of up to €400K. Until May 31st, candidates eager to join the program can apply here. The participants’ ideas have to tackle a real problem in one of the following verticals: FinTech, Healthcare, Industry 4.0, Logistics, Automotive, or Hospitality.
Angel Angelov and Yavor Gochev from our team and Yordan Nedev and Momchill Zarev, part of the management of Sirma, will be leading the program. They will also share key lessons about managing a team, working with investors and building a company for the global market. Our representatives will provide mentorship and entrepreneurial support.
Angel points out that such events “play the role of platforms that make it possible for people with good business acumen to cross the line and become true entrepreneurs.” He adds that these tailor-made programs in specific verticals through in-depth tech and business expertise (mentorship, advisory, guidance) offer a good base for quickly moving from zero to one. “Our ecosystem has been growing steadily in the past decade with more generalist programs popping up, while the evolution is in offering niche knowledge, added value services and not least enough financing securing startups’ long term success.” Angel says.
Timeline for activities
The incubation period will begin at the end of June and will continue for 3 months. Before that shortlisted companies will be invited to a live pitching event where they will present their projects and ideas for future development. After the final selection of companies, participants that have received term sheets for investment will join an extensive 3-month course including one-on-one meetings and workshops with experienced professionals from the industry.
The graduates of Sirma Venture Lab will be announced at the end of September at a special Demo Day event. Then participants will demonstrate their progress during the incubation period. At the event, Sirma and Innovation Capital will announce the companies that are receive seed investment and will be considered for follow-on. All startups taking part in the Demo Day will have the opportunity to meet with some of the most successful investors from the region - business angels and VC funds.
In the next 12 months Sirma and Innovation Capital will continue their support for companies that have taken part in the incubator, as they can invest up to €350K in this period.
Collaboration with experienced professionals
Sirma Venture Lab will offer the opportunity for participants to learn from experienced professionals both on the technical and the business side. Tihomir Totev, CTO of Sirma, will help entrepreneurs to develop their plans and create a world-class product. Tihomir will be joined by few of his colleagues from Sirma as they share key insights of turning an idea into reality.
The participants will also have the opportunity to learn from experienced business development professionals such as Borislav Stefanov, Management Consultant with 15+ years of experience, and Lyubomir Tankishev, who has been developing companies for over a decade.
People that are part of Sirma Venture Lab will meet with entrepreneurs who have gone through the path of starting a company with a great idea and turning it into a successful business. Dimitar Karaivanov, CEO at Kanbanize, and Galya Dimitrova, CEO at Iris, will share key lessons about developing a global company.