The autumn edition of the XLRadar Consumer Goods Program (FMCG) offers funding opportunities from € 25,000 to € 100,000 for FMCG companies.
Innovation Capital, a venture capital fund manager at the Fund, aims to attract startups in the field of fast moving consumer goods (FMCG). Startups from across Bulgaria and from EU countries can apply in the accelerator program XLRadar Consumer Goods 2021 to 06/09/2021 d.
The program is an incomparable opportunity for startups to develop in the FMCG markets in Bulgaria and the EU.
The FMCG market includes short-lived goods such as : processed foods; ready-to-eat foods; soft drinks; pastries; fresh, frozen and dry foods; dietary supplements and over-the-counter medications; cleaning products; cosmetics and office supplies.
XLRadar Consumer Goods 2021 will offer the most creative startups and the most inspiring entrepreneurs a 30-day intensive accelerator program in which, assisted by professional mentors in the field of FMCG, business administration, finance and accounting, controlling, business modeling, management of projects and others, the teams will have to develop their business concept and prepare for its presentation to professional investors. The program also includes: free office shared space, modern R&D lab and production base for FMCG – food, market entry in Bulgaria, mentoring sessions by the founders of successful FMCG companies that have conquered international markets, and many others.
Among the specialized FMCG mentors in the program are : Kalin Klasanov from RooBar and Rocket Food ; Nikolay Todorov from Delishu , Goran Dosev from Zeleo and Furisto . They are the basis for the construction and management of FMCG food Hub in Sofia, which is a major partner of XLRadar Consumer Goods 2021 .
The top 10 startups selected by the Investors’ Day jury will receive an investment of € 25,000 , and the top three of them will be able to receive an additional investment of up to € 100,000 over the next 12 months. In addition to the investment, during the program entrepreneurs will have at their disposal a specialized infrastructure (R&D center, shared production workshop, access to distribution and store network) and value-added services ( FMCG CRM, shared workspace, marketing, website building, accounting , accountability, etc. ), which will give them a full set of tools to reach the market as quickly as possible.
To apply for the program, your company must have a history of up to three years , allowing you to apply with a newly established company or even just a well-founded business idea with a committed team and commitment to the project. Entrepreneurs must believe in themselves, know the FMCG market very well and have bold ideas and ambition to implement them.
The XLRadar acceleration program started for the first time in 2020, aiming to promote the development of the open entrepreneurial ecosystem in Bulgaria and to help the development of Bulgaria as a leading destination for startups and business hubs in the region.
So far, more than 200 startups have applied for the accelerator program, with more than 60 of them going through acceleration and 12 receiving investments of over 350,000 euros. Several of these startups through the XLRadar program made subsequent rounds of investment.
” Innovation Capital” AD is a fund manager, managing venture capital fund in the amount of 21.1 million euros for equity and quasi-equity financing. He was selected as a fund manager by the Fund of Funds (FMFIB EAD) to manage a resource of EUR 19.3 million under the Operational Program “Innovation and Competitiveness”, co-financed by the European Regional Development Fund and additional capital from independent private investors in the amount of 1.8 million.
Innovation Capital Fund KDA with a major investor The Fund of Investments has investments in over 70 companies with a total value of over 6 million euros. The total number of employees in these companies is over 160.