The Third Bulgarian Endeavor Entrepreneur Aims to Revolutionize Access Control and Security Systems Through Biometric Technologies.
Julian Sofroniev has been officially selected as a member of the Endeavor Network of entrepreneurs during the International Selection Panel in Dubai, UAE which took place from March 1-3, 2016. Julian is the Founder and CEO of Biodit Global Technology („Biodit”), a Bulgarian company which develops innovative biometric systems for security and access control with applications mainly in the hospitality, insurance and automotive industries. The two main products of the company offer access control for hotels and administrative building, as well as anti-theft vehicle solutions. In addition, Biodit is in the process of developing a new biometric vein recognition sensor and also aims to penetrate the financial industry. Julian expects quick and sustainable growth, accelerated by the rising demand for high-tech biometric solutions in Europe, Africa and the Middle East. Biodit has already established contractual relationships with big hotel chains such as the nH Hotels and insurance companies such as Allianz, Uniqa and Generali, which indicates the huge growth potential the company has especially on the European market which amounts to BGN 18 billion. In February 2016, Biodit also raised Series A investment of close to BGN 3 million from NEVEQ which investment shall catalyze the company’s growth.
Julian is the third Bulgarian entrepreneur who was selected to become a part of the global Endeavor Network. The network is active in 25 countries around the globe, helping local entrepreneurs grow their businesses by providing access to new markets, capital, mentoring and talent. The support and resources Endeavor devotes to its entrepreneurs aim to contribute to their countries’ economic growth and turn them into role models for the new generation of entrepreneurs.
Julian Sofroniev reached the international selection panel in Dubai, UAE after he successfully passed the Endeavor Bulgaria’s local stages of selection where he had interviews with multiple international mentors and business leaders and covered the requirements related to financial results and growth potential, as well as personal leadership qualities.
At the international selection panel in Dubai, UAE where 40 companies from 20 countries we presented, Julian presented himself, SoftGroup’s milestones and the company’s growth strategy in three consecutive interviews of 45 minutes each in front of six world business leaders with experience in different industries and markets:
- Omar Sati, Managing Director of DASH Ventures
- Noor Sweid, Managing Partner at LEAP Ventures
- Jonathan Pentzien, Managing Partner at Gunderson Dettmer
- Hisham Farouk, CEO of Grant Thornton UAE
- Hassan El Shabrawishi, CEO of AXA Egypt
- Bora Yilmaz, Cofounder at Revo Capital
In addition to the invaluable feedback Julian received from the interviewers, he built contacts with potential investors such as Intel Capital and General Atlantic, which expressed significant interest towards the company in spite of its early stage of development. What is more, Julian had preliminary negotiations about potential partnership with AXA Egypt, a part of the biggest insurance company in the world, related to the commercialization of Biodit’s anti-theft vehicle systems in Egypt.
As a member of the Endeavor family, Julian would be able to utilize all resources the organization offers. Julian would be strategically supported by a specially assigned Advisory Board. In addition, he would gain free access to highly qualified managerial talent from leading consulting companies such as EY and Bain and to entrepreneurial programs at Harvard, Stanford and MIT. Venelin would also be able to reach out to more than 4,000 mentors and investors from Endeavor’s network.
About Endeavor
Established in 1997, Endeavor (www.endeavor.org) is a global nonprofit organization leading the High-Impact Entrepreneurship movement around the world. High-Impact Entrepreneurs—those with the biggest ideas and most scalable businesses—are widely recognized as the key drivers of long-term economic growth, job creation, and innovation. High-Impact Entrepreneurs have the potential to change their countries and the world. Many of these High-Impact Entrepreneurs, however, face various barriers in growing their businesses. Endeavor provides the support system and resources necessary to overcome these challenges.
Endeavor has set the standard for selecting, mentoring, and accelerating entrepreneurs with the greatest potential for creating impact. In 18 years, Endeavor has screened and provided feedback to 40,000+ candidates and selected 1,200+ High-Impact Entrepreneurs from 800+ companies. Mentored by our growing network of 3,000+ top local and global business leaders, these entrepreneurs have created over 500,000+ high-value jobs and generated more than $7.7 billion in revenue last year.
The World Economic Forum, the Clinton Global Initiative, Harvard Business School, Stanford Graduate School of Business, Fast Company, Time, Forbes and The Wall Street Journal, as well as iconic entrepreneurs including Michael Dell, eBay’s Pierre Omidyar, and LinkedIn’s Reid Hoffman, have recognized Endeavor for its innovative and results-driven approach. Thomas Friedman hailed our model as the “best anti-poverty program of all.”
During the summer of 2015, Endeavor opens its third European office in Bulgaria with the support of local business leaders and entrepreneurs. They are committed to having a long-term impact over the entrepreneurial ecosystem in Bulgaria. The Bulgarian Board Members include Andon Tushev (TAL Engineering), Atanas Simeonov (S Group), Vassil Terziev (Progress Software), Dennis Smith (Evolution Equity Partners), Ivo Eugeniev (Rosslyn Capital Partners), Kiril Boshov (EuroHold Group), Lyubomir Minchev (Telelink Holdings), Nedelcho Spasov (Easy Asset Management), Stefan Gugushev (Gugushev&Partners Law Offices) and Christo Iliev (AG Capital).