Project “Establishment of Competitive Start-up Companies” – Project 100



Ministry of Economy and Energy     

Contract amount (in BGN): 275,000 BGN

Implementation time: 2004 – 2006

Short Project Description:

        The project of the Ministry of Economy “Establishment of Competitive Start-up Companies” (Project 100) provides a grant with the aim to stimulate the people with vital business ideas and plans. For the region of Shumen District the project has been implemented by Agribusiness Centre/Business Incubator – Shumen. Under this project there has been a grant of up to 15,000 BGN for stimulation of the people with long-term business ideas. The funding has to be used for repair works and equipment of working premises, purchasing of machines and appliances, initial supply of raw materials.  

Description of the provided services:

  1. Preliminary selection of the applicants.  
  2. Organizing and carrying out trainings of 80 applicants in three modules – business idea development, management, finances and marketing of the small company /business planning/, using information technologies for the business.  
  3. Business planning – Developing a business plan by the applicants, consultations regarding the business plans working out, evaluation of the submitted business plans and approval of the applicants for grants.    
  4. In Shumen District 18 applicants have been approved, they registered companies, received funding under the project and started their own business.  
  5. Business Centre Shumen provides for all business services and assists for the development of the newly started companies. In addition they can also use the financial leasing scheme under JOBS project in order to purchase machines and equipment.  
  6. ABC/BI implements current control and monitoring of the newly established companies and keeps up with their activity development.