The winners of EMPOWER Award Competition will be announced on 1st November

Monday, 18 October 2010
Seven projects are competing for a prize pool of BGN 200 000
On the 1st November, The Leaders of the Bulgarian Nations’ Day, the winners of the biggest competition for young entrepreneurs in Bulgaria The Empower Award for Young Entrepreneurial Excellence will be announced during a special ceremony in Sofia Live Club.
Earlier in the same day, the best seven business plans will be evaluated by a final jury, comprised of CEOs of leading organizations in Bulgaria, partners and senior state officers as well as representatives of the USA Embassy.

The total number of submitted business cases for starting new business – 191 was record breaking and exceeded the expectations of the organizers. In the summer of 2010, each entrepreneurial idea, admitted to the competition was examined by two independent judges, experts in evaluating business plans. After the first stage, the top 20 applications were subjected to a second round of evaluation by another two independent experts.
The seven top rated young entrepreneurs, together with their business teams, are invited to present their ideas before the final jury, which has the task to allocate the prize pool of more than BGN 200 000 as follows: BGN 100 000 first prize, BGN 60 000 second prize, BGN 40 000 for third place and a special “Green Award”.

“I thing this competition is a proof of the incredible entrepreneurial spirit of young Bulgarians,” said Thomas Higgins, Chairman of the Foundation Empower United. „In Bulgaria there are talents who have good ideas and need only funding to start their own business, and we all know how important it is to drive the economy in this period of crisis,” he added.

The Empower Award for Young Entrepreneurial Excellence is an initiative of the Empower United Foundation. Their partners are one of the largest companies, leaders in their business sectors. The program is supported by the Ministry of Economy, Energy and Tourism and one of the leading banks in Bulgaria – Societe Generale Expressbank.

The competition is also organized in partnership with Motorola Foundation – nonprofit organization specifically created to carry out charity and philanthropy initiatives, CMS – one of the leading law and accounting firms in Europe, AES – one of the largest energy companies in the world, Adecco and EcoBulpack. The Empower Award for Young Entrepreneurial Excellence is made possible by the generous support of the American people through the United States Agency for International Development (USAID).

Organizational partners of the completion are JobTiger - a leading Bulgarian enterprise focused on providing human resources solutions, The Center for Entrepreneurship and Executive Development (CEED) and The Association for Support of the Academic Society (ASAS).
The programme is organized with the media partnership of Nova television, the newspapers Capital and Dnevnik, the online edition, the on-line portal, Radio1 and The Economic TV “EBF”.

For more information:
Radoslav Tsonov, Empower United -, +359 2/ 819 45 74
Anka Kostova, Societe Generale -, +359 2/ 937 06 33