"Creating Competitive Start-up Enterprises" (Project 100) of the Ministry of Economy and Energy provides grant assistance in the range of BGN 10,000 - BGN 20,000 to people with viable business ideas. The initiative is implemented with the support of UNDP. The project has an overall budget of BGN 6.4 m for the period 2004 - 2008 provided by the Ministry of Economy and Energy.

NEW!!! Project 100 launches its 2nd project cycle for 2008
In 2008, Project 100 will provide grant assistance to start-up entrepreneurs from the regions of Pazardjik, Pleven, Smolyan and Yambol

Regional information meetings will be hold from 9 February to 17 February 2009 according to the following schedule:

 

February 9 2009 - Yambol, 16 h., hall of District Administration, 18 Jorj Papazov str.
February 10 2009 - Elhovo, 11.30 h., Tourist Information Center, 7 Pirot str.
February 11 2009 - Zlatograd, 11.30 h., hall of Municipal Council, 1 Stefan Stambolov str.
February 11 2009 - Smolyan, 17 h., District Administration, 14 Bulgaria blvd, hall 201
February 12 2009 - Devin, 11.30 h., SPA hotel Devin, 2А Drujba str.
February 12 2009 - Pazardjik, 17 h., hall of District Administration, 2 Ekzarh Yosif str.
February 13 2009 - Belovo, 12 h., hall of Municipal Council, 4a Orfei str.
February 16 2009 - Pleven, 17 h., Regional Business Centre Pleven, 4 Ivan Vazov str., fl.4
February 17 2009 - Cherven bryag, 11 h., chitalishte "Nikola Vaptsarov", events hall

SCHEDULE OF ACTIVITIES IN THE SECOND PROJECT CYCLE

• Applying with a business idea: 16 - 27 February
• Evaluation of applications: 2 - 13 March
• Training of the approved applicants and final test: 16 - 27 March
• Development of business plans by the applicants: 31 March - 28 April
• Evaluation of the business plans: May - June
• Official announcement of the competition results: beginning of July 2009
  

Download the complete project application documentation for the 2nd project cycle here: Zaiavka za uchastie P100 oblast Pazardjik; Zaiavka za uchastie P100 oblast Pleven; Zaiavka za uchastie P100 oblast Smolyan; Zaiavka za uchastie P100 oblast Yambol

Download the guidelines for application under Project 100 for 2008 here: Nasoki za kandidatstvane P100_2008

Download the grant contract here: Dogovor za finansirane P100_2008

The applicants must fill in and submit 2 copies of the Application form for the respective district. The deadline for submission of the application forms for the second project cycle is 27 February 2009. Applications for the respective district must be submitted during business hours to the below listed addresses but not necessarily in person, or sent via post (post stamp is valid).

Pazardjik district:

Business centre - Peshtera
4550 Peshtera
54 Mihail Takev str

Business centre - Pazardjik
4400 Pazardjik
69 Prespa str.

Agency for regional develoment - Velingrad
Centre for business and information
4600 Velingrad
5 Vasil Aprilov str.

Business centre - Panagyurishte
4500 Panagyurishte
2 Krastyo Geshanov str.

Smolyan district:

Business centre - Devin
4800 Devin
Osvobojdenie str.
House of Culture, 1st floor

Business Centre - Devin, temporary office at District Administration Smolyan
4700 Smolyan
14 Bulgaria blvd.

Pleven district:

Regional Business Centre - Pleven
5800 Pleven
4 Ivan Vazov str., 4th floor

RBC - Pleven, window office Cherven bryag
5980 Cherven bryag
16 Vasil Levski str.
Lotus bldg., ТК Terra 2000

RBC - Pleven, window office Levski
5900 Levski
58 Bulgaria blvd., room 104

Yambol district:

Business centre - Elhovo
8700 Elhovo
2 Targovska str., 3rd floor

Business centre - Straldja
8680 Straldja
7 Hemus str.

Business centre, temporary office at the Agency for regional development and investments - Yambol
8600 Yambol
6А Tsar Ivan Asen str., 3rd floor
(in the yard of the Mathematics High School)

 

What is Project 100?
Requirements for participation
Important!
The grant competition and award process
What will grant assistance cover?
Results of the national competition - 2004
Results of the national competition - 2005
Results of the national competition - 2006
Results of the national competition - 2007

What is Project 100?

"Creating Competitive Start-up Enterprises" (Project 100) is a project of the Ministry of Economy and Energy providing grant assistance in the range of BGN 10,000-20,000 to people with viable business ideas.The project has an overall budget of BGN 6.4 m for the period 2004 - 2008 provided by the Ministry of Economy and Energy. Project 100 was piloted in 2004 in Dobrich, Shumen, Silistra and Vidin. It is currently operating in ten districts: Montana, Pazardjik, Yambol, Veliko Tarnovo, Stara Zagora, Targoviste, Lovech, Smolyan, Pleven and Haskovo. In 2008 the project will provide grant assistance to start-up entrepreneurs in the districts of Smolyan, Pleven, Pazardjik and Yambol.

At regional level Project 100 is implemented by the JOBS Business Centers and Business Incubators.

Project 100 provides comprehensive assistance to start-up entrepreneurs through:

• intensive pre-start training
• assistance for writing feasible business plans
• grant assistance in the range of BGN 10,000 - 20,000 to the best business plans awarded in a national competition
• professional support by the Business Centers before and after accessing the grant
• access to the JOBS financial leasing mechanism to buy equipment for the new business.

Requirements for participation

The applicants must be Bulgarian citizens who:

• have a business idea, want to start a micro or small business, and will be personally involved in the stages of the Project as well as in the development and implementation of the prospective business
• provide 20% of the required grant financing as their personal contribution to the new business

Other things equal, priority will be given to applicants whose business ideas involve application of new products/services, know-how, new and/or energy-saving technical solutions and production technologies, and use of renewable energy sources.

Not eligible for participation are individuals who:

• have obligations outstanding to the National Revenue Agency
• are owners, partners and/or managers in a company operating in the same line of business as the new business idea proposed in the project application
• are subject to conflict of interest
• have presented incomplete and/or invalid information
• are under-age at the time of the application

The applicants are allowed to have partners for the development of the business ideas and the realization of the business. The partners need to comply with the following:

• they may not apply under the project;
• they own less than 50 % of the capital of the company;
• they may not represent the company during the period of the grant contract on their own or together with the applicant;
• they may not own and/or manage a company replicating the activities of the prospective business. The same thing applies to individuals related to the applicant and the partner within the meaning of § 1 of the Supplementary Provisions of the Commercial Act.
  

Important!

THE PROJECT WILL NOT FINANCE THE FOLLOWING ACTIVITIES:

• Trade and distribution, restaurant business;
• Production of agricultural products;
• Fishing industry;
• Forestry;
• Coal mining;
• Transportation businesses;
• Healthcare and veterinary services;
• Publishing, advertising, scientific, research and design activities;
• Real estate operations, chattel leasing;
• Education and training;
• Consulting and information services;
• Financial and insurance operations, and operations involving gambling;
• Production of beverages of high alcoholic content and spirits;
• Production of tobacco products;
• Production and distribution of weapons;
• Production leading to environmental pollution

According to the project requirements, applicants will be approved in a national grant award contest for start-up enterprises. The grant application process involves two stages. First, the applicants must apply for participation and the approved participants get training at the BC. Only applicants that have successfully completed this training may apply for grant assistance for starting their own enterprise.

General Terms for Participation:

The national contest does not have regional quotas limiting the numbers of participants or the amount of financing to be utilized in each district.
Each person may participate with one single business idea in each national competition cycle. Applicants are eligible to receive grant assistance only once.
Business ideas replicating actual activities of an existing company owned or managed by the applicant, will not be financed regardless of their line of business.
Applicants who have successfully completed the training course under the project are free to decide in which competition cycle to participate and to submit their business plan.
Applicants who have been rejected at any stage of the project are eligible to reapply only once and must submit a new business idea.
Applicants who were included in the standby list in the first cycle and have not passed the training due to lack of training slots, have the right to apply in the second cycle with the same business idea or with a new one.
Applicants with tax arrears will not be financed regardless of the proposed line of business.
For the received grant assistance, applicants are indebted to pay endowment tax pursuant to Chapter 2, Section ІІІ of the Local Taxes and Fees Act amounting to 5% of the received grant and payable within two months as of grant receipt date.

The grant competition and award process

• Submission of applications for participation in Project 100 with a clear business idea; selection of participants
• Training of the approved applicants (10 days) in two modules: Business planning and Marketing through Internet
• Final test for the trainees - only trainees that have successfully passed the test are eligible for further participation in the grant award contest
• Development of business plans by the successful trainees with assistance from the Business Centers
• National grant award contest for start-up enterprises: submission of business plans, expert evaluation and announcement of the approved applicants
• Registration of start-up companies by the applicants and signing of grant award contracts
• Support to the new companies by the Business Centers through consulting assistance, business services and access to financial leasing
• Monitoring and reporting on the implementation of grant award contracts
  

What will grant assistance cover?

The project is financed from the state budget through the Ministry of Economy and Energy.

Grant assistance will cover the following categories of expenses:

• Refurbishment or adjustment of premises/buildings for the business - up to 30% of the grant assistance; up to 50 % - for hotel services;
• Purchase of machinery, facilities and equipment as well as software and other intangible assets;
• Pre-start purchase of materials and consumables - one-time purchase of initial stock;
• Staff training and retraining;
• Registration of new products/services, patents, licences, special advisory services (НАССР, ISO, etc..);
• Marketing, business research and promotion - the grant may cover such expenses only for the first six months after start-up and up to 10% of the grant assistance.

Grant assistance will not cover:

• labor costs;
• purchase of cars;
• purchase of other transportation vehicles that will not be used directly in the start-up business;
• payments for travel;
• cost of making legal, changing the purpose of, or formalizing the status of premises;
• cost made before signing of grant assistance contract.

The expenses that will not be covered by the grant assistance can be covered by the personal contribution of the applicant. All other ordinary and necessary expenses for the business will be covered by the applicant.

The project will provide grant financing from BGN 10,000 to BGN 20,000 for each business idea that has been approved in the national business plan contest. The applicant must also provide financial and/or in-kind contribution equivalent to at least 20 per cent of the requested grant financing.

VAT is not covered by the grant assistance or own financial contribution amounting to 20 % of the requested grant assistance.

The approved applicants may plan on additional financial assistance for purchase of equipment and machinery through the JOBS Project Financial Leasing Scheme which has a separate application procedure.

Competition cycles and results in 2004

Applications submitted: 1691
Applicants trained: 326
Business plans approved to access grant assistance: 68
Registered companies: 64
Grants disbursed total BGN 992 156

Competition cycles and results in 2005

Applications submitted: 959
Applicants trained: 307
Business plans approved to access grant assistance: 83
Registered companies: 81
Grants disbursed total BGN 1 197 909

Competition cycles and results in 2006

Applications submitted: 593
Applicants trained: 200
Business plans approved to access grant assistance: 47
Registered companies: 47
Grants disbursed total BGN 938 095

Competition cycles and results in 2007

Applications submitted: 838
Applicants trained: 225
Business plans approved to access grant assistance: 60
Registered companies: 59
Grants disbursed total BGN 1 163 860