Over 160 Young Entrepreneurs Applied for EMPOWER Award 2011

Thursday, 07 July 2011
Admission of business plans is over, next is assessment by competent jury.

More than 160 projects of young entrepreneurs apply in the biggest competition for business plans in Bulgaria – EMPOWER Award, with a prize fund of 200 000lv.

End of June was the deadline for the submission of documents. For second consecutive year the application took place with a very strong interest. According to Regulation 2011, the best six projects will receive seed funding - first prize of BGN 50 000 and five prizes of 30 000.

"Trend in the economic crisis is entrepreneurs to become more resourceful in implementing their business ideas. This gives me confidence that this year the candidates have made many interesting and valuable projects for start-up business.“ said the manager of EMPOWER Award, Stanislav Sirakov. "One of the advantages of our contest is that no sectoral limits for the submitted projects. Thus, we allow young people to apply for funding with the most innovative and closest to their heart ideas.” he added.

The submitted business plans pass through several stages of assessment after the eligibility of the candidates and their submissions is checked. Projects which meet the General Terms of the contest will be assessed by two independent experts according to official criteria of EMPOWER Award competition.

Members of the jury are financial and investment experts, entrepreneurs and established business leaders with extensive experience in business and investment management.

About “EMPOWER Award for Outstanding Young Entrepreneurs”

The contest “EMPOWER Award for Outstanding Young Entrepreneurs” is an initiative of "Empower United" Foundation ( and is supported the U.S. Agency for International Development (USAID) and Foundation "America for Bulgaria". The program is organized in cooperation with the Ministry of Economy and Energy.

About EMPOWER United Foundation

Empower United is a non-profit organization whose mission is creating opportunities for Bulgarian citizens and companies to realize their full potential. It is an extremely successful example of implementation of public-private partnership and joins people  focused on world best practices and innovative methods in developing leadership and entrepreneurial skills and vocational training for young people in Bulgaria.

Detailed information about the activities and projects of the foundation you can find at

For more information,
Stanislav Sirakov
Empower United Foundation
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