BlackPeak Capital supports Bulgarian Startup Association BESCO

We are proud to support the Bulgarian Startup Association BESCO in its relentless efforts to create and advocate economic policies to improve Bulgaria’s innovation, entrepreneurial, and investment environment. In 2022, BESCO worked with Bulgaria’s parliament to successfully pass legislation aimed at:

* Facilitating access to the capital market of early-stage companies by increasing the listing limit on Bulgaria Stock Exchange's BEAM segment

* Attracting entrepreneurs from outside the EU by facilitating a start-up visa and a "blue card" residency permit

* Ensuring protection from creditors for individual borrowers via a personal bankruptcy law

Their plan for 2023 is even more ambitious, with a pipeline of policies related to the following:

* Changing Bulgaria's corporate law to allow for more flexible share ownership

* Improving Bulgaria's FDI attraction capabilities

* Enabling pension funds to invest in alternative assets

* Creating incentives to encourage angel investing in start-ups

* Facilitating speedier liquidation procedures

* Enabling option pools for employees

* Facilitating technology transfer

We wish to thank BESCO for the inspiring work that they are doing and their recognition to us as one of their supporters. We are also looking for similar initiatives to support in all of our countries of operations — Romania, Slovenia, Croatia, and Serbia — with the conviction that we can jointly learn from the most progressive global economic practices and implement them locally to enable Southeast Europe’s economic progress.