Promotion of entrepreneurship in a newly established company

“Scitecto 21” Ltd. is a company dealing with interdisciplinary research and development based on information technologies, video surveillance and face recognition. Like most of the newly established entrprises in Bulgaria, the main challenge for the company is the lack of funding for realization of entrepreneurial ideas. Another problematic characteristic and a major challenge in front of the entrepreneurial development in Bulgaria is the fact that almost half of the newly established companies operate in the wholesale and retail sale trade sector, which is mainly dependent on the economical changes and environment. The share of newly founded businesses operating in sectors with higher added value is drastically low. To be able to face all these challenges and successfully realize its entrepreneurial idea (service) – research for development of fully automated system for video surveillance of urban environment, the company needs to overcome all the existing limits and difficulties prior to its development. The applicant cannot realize the planned entrepreneurial idea on the market, because it does not have the necessary qualified stuff to fufill such activities on its own. Apart form the qualified experience and expertise, the company needs longterm tangible assets, a web page and an office, all these necessary for the realization of the idea. A market survey is also needed for the establishing of the entrepreneurial idea on the market and its realization in short term. The planned investments will allow the applicant to successfully position and launch a service, which will generate high added value. To overcome all the mentioned issues, the project includes the following eligible activities: 1. Activity for realization of an entrepreneurial idea on the market 2 Visulisation of the project.

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