FoodHub, an online food ordering service for AUBGers, and FRAG, a gaming club unlike any other in Bulgaria, were the business ideas that won the competition of the Entrepreneurship course this semester. The closing event of the course, a public presentation of the students’ business plans, was held on Tuesday, April 24, in the Andrey Delchev Auditorium.
Six teams were competing for the $200 award provided by Junior Achievement Bulgaria and Citibank. The jury that evaluated the practicability and profitability of the ideas consisted of Stephen Feldstein (Citibank Country Officer for Bulgaria), Milena Stoicheva (President of Junior Achievement Bulgaria and the first Dean of Students at AUBG), and Dilian Pavlov (AUBG alumnus and serial entrepreneur). Moderators of the event were Prof. Andonova and Provost Reed – the pioneers of the idea for a course in entrepreneurship, sponsored by outside companies.
After all six ideas were presented, the jury members secluded themselves in the Conference Room in BAC and 15 minutes later returned with the news that they could not reach a consensus and, hence, divided the award in two. “I did not expect that we will have such high level of presentation, thought, content… We could not come up necessarily with one winner. That’s why we have two, “ Stephen Feldstein said.
Both the boys from FoodHub and from FRAG have decided to see their ideas accomplished and the latter have also already received their first funding in return for a part of the equity. Dilian Pavlov, one of the founders of the first media in AUBG, The Aspecter, assured them that from his experience “university startups are the dumbest thing [one] can do, but probably the best dumbest thing.”
Here is more information on the six teams and their business ideas:
Idea #1: JFinance – a simplified free online financial magazine.
JFinance members: Kristiyan Andonov, Saleh Baker.
Competitive advantages: Simplified language, free and easy to read, financial advices, “Finance for Dummies,” as Saleh Baker said.
The jury’s comments: “Great concept.”
Idea #2: FoodHub by HighFive – an online food ordering service targeted predominantly at AUBG students.
HighFive members: Georgi Ivanov, Peter Trifonov, Raman Shalapau, Dimitar Chatleski, Ivaylo Shipochki
Competitive advantages: Simple, quick, eliminates language barrier and phone calls costs.
The jury’s comments: “Doable, relevant, feasible.”
Idea #3: FRAG – gaming club in Sofia with gaming bar, computer store, thematic gaming areas, etc.
Team members: Atanas Nalbantov, Venelin Tontchev, Simeon Simeonov
Competitive advantage: Only one existing competitor in the country, but with much less attractive for the gaming community.
The jury’s comments: “Very original, brave, ambitious.”
Idea #4: Espire Consult – online job finder service that employs professional HR consultants and targets mainly students
Team members: Radina Varbanova, Ivan Guberkov, Paulina Guerguieva, Iliyan Stoyanov, Stilian Zhelev, Eleonora Georgieva
Competitive advantage: Job matching consultants, simple website, mobile application.
The jury’s comments: “Definitely serves a need.”
Idea #5: Koala Scholarships – a tangible magazine, which provides information about the different scholarships universities around the world offer
Team members: Edi Bardhollari, Xhensila Rekaj
Competitive advantage: Filtered info from university websites, newsletters, consultancy.
The jury’s comments: “Serves socially relevant needs.”
Idea #6: have-a-seat – a real-time information platform for the availability of seats in different venues in Sofia.
Team members: Tanya Pushkova, Tanya Beloreshka, Tatyana Bezinska, Palina Klyshko
Competitive advantage: Beneficiaries are not only the customers, but the venue owners themselves. Optimizes time, minimizes costs, maximizes utility.
The jury’s comments: “Biggest target group and good market.”