Bulgarian Stock Exchange (BSE) and London Stock Exchange Group’s ELITE ecosystem signed a Memorandum of Understanding to create an agile ecosystem of prosperous SMEs in Bulgaria. The Memorandum covers the umbrella initiative to educate and stimulate the most dynamic and ambitious SMEs in Bulgaria to explore all the existing opportunities worldwide for raising capital to invest in their growth. The document was officially signed by Ivan Takev, CEO of the BSE.

“We saw the enormous potential for the Bulgarian SMEs in developing through the network of the LSEG ELITE program almost a year ago and we started negotiating our strategic partnership. We are very glad that now it is a fact and opens new global business horizons for the ambitious Bulgarian SMEs.”, said Ivan Takev.

“We are delighted to witness increasing interest in ELITE from companies across the CEE region, validating and highlighting the importance of partnerships like the consolidated cooperation with UniCredit. In addition, today’s MoU signing with BSE is testament to commitment to supporting Bulgaria’s most ambitious companies. These businesses have a unique capacity to innovate, create new jobs and ultimately drive economic prosperity. Networks like ELITE are vital for the development of dynamic firms, creating a vibrant entrepreneurial ecosystem in which the fastest growing companies can thrive”, said Luca Peyrano, CEO of ELITE.

The signing ceremony took place in front of the representatives of more than 30 most dynamic Bulgarian companies who participated in the first strategic workshop implemented under the umbrella initiative of the Memorandum. Among the companies representing different sectors of the Bulgarian economy were such well known as: Accedia, Avtomotor Corporation/Citroen, Bestamed, Eurosped, Eurovending, HeleCloud, Kuminiano Fruit, Mobile Alternative Communications, NET1, RBL Food Bulgaria, Sport Depot, TaxiMe, Vaptech and etc. The workshop was implemented in partnership with UniCredit Bulbank.

"We are happy to be part of ELITE programme for several years and to follow the growing path of the twelve companies that have already enrolled. We truly believe in the potential of our clients and the Bulgarian environment”, commented Antoaneta Curteanu, Head of Corporate, Investment and Private Banking of UniCredit Bulbank. Aldo Andreoni, Special Origination Manager in UniCredit Bulbank, is responsible for the programme within the bank.

The workshop was dedicated to financing options for boosting the growth of the companies. Among the main topics of the forum were: different financing models for growth; opportunities for financing from public and private capital markets; strategic thinking behind choosing among financing options; use of digital financial innovations for connecting companies with capital; success stories of Bulgarian companies recognized in LSEG’s yearly edition “1000 Companies to Inspire Europe”; benefits and responsibilities of a public company and best practice sharing from a Bulgarian public company.

ELITE is designed to help ambitious companies scale up, structure and be more competitive in the global marketplace. The initiative combines education, business support, mentoring and access to expertise and funding. Since its foundation in 2012, ELITE has grown into a network that covers more than 1100 companies from 40 different countries, with over €81 bn in combined revenues and accounting for more than 478,000 jobs. Over 10 companies from Bulgaria are part of the ELITE community.