It’s a tough world out there and in most cases, startups need investors to make it big. But you are not the only one – it’s a highly competitive market, after all. The Erasmus Centre for Entrepreneurship (ECE) highlights this in their Get in the Ring Investment Battle. They are the organisers of the international competition where startups try to secure an investment of up to 1 million euros. Battles have been taking place since July, and the next stop is Bulgaria.
Get in the Ring is a three-round competition, representing startups from 30 different countries. The first round, The Nationals, is organised by each participating country, where its two most promising startups are selected to continue to the second round.
The Ring Bulgaria
The Ring Bulgaria is hosted by the Association of the Bulgarian Leaders and Entrepreneurs (ABLE), and will take place for the first time nationally on 9 October. “Startups based or registered in Bulgaria can apply, regardless of the nationality of the team members,” Aleksandar Dimitrov, one of the organisers, told inventures.eu. The application can be found here; deadline is 27 September.
There are some criteria you have to meet in order to enter The Ring. Your startup shouldn’t be older than five years, you should be proficient in English, have a scalable business model, and of course, look for an investment between 100.000 and 1 million euros.
The national jury will pay attention to the innovation and market potential of the ideas, team strengths and the business model. “It’s an opportunity to get international exposure to media, investors, customers, suppliers, and potential business partners,” said Dimitrov. “The experience of presenting your ideas, [and] getting constructive feedback… will be invaluable to the teams.”
Rounds two and three
The two most promising applicants from Bulgaria will join in the second round or the International Clash, where all 60 selected teams will have to create a video that they pitch to an international jury.
Eight finalists will, in turn, compete in the third round, Face of the Champions, on 22 November, during the Global Entrepreneurship Week in Rotterdam. There, they will present their ideas in a ring in front of four investors and an audience including more investors, managers, CEOs, and students.
Be quick and apply. And get ready to rumble!
Thanks to Nikola Yanev for pointing us to the story.