Sponsia aims to build a global online marketplace for sponsorship opportunities that will facilitate the connection between sponsors and organizers of events, causes & activities.
Sponsia’s goal is to create an online marketplace for event sponsorship opportunities where searching, communication and evaluation will be much more efficient both for sponsors and event organizers. To build it, through introduction of innovative desktop and mobile tools Sponsia helps event organizers to sell more of their media property to sponsors.
Sponsia helps event organizers promote their event and to better match sponsor’s needs. Organizers have access to tools that help them sell more and to engage their audience. Discovering some new sponsors is a bonus is great feature that most event organizers love.
Making it easier for event organizers helps them focus on what they do best and pull quality events. This in turn leads to generating the required critical mass of users who are searching for the best events they can attend.
Sponsia has just launched its crowdfunding campaign that allows investors to easily invest small amounts of money (as small as £10) and get shares in the company. The startup is looking to raise £125 000. The crowdfunding campaign, which is also backed by the Eleven VC fund, is now trending on Seedrs with 52% of its target already secured!
Let’s explore who’s behind Sponsia and what’s ahead of the project.an>
How did you meet and what made you think you are the right team to do the job?
The idea was born 4 years ago when co-founders Milen Ivanov and Teodosy Teodosiev met at an event and immediately decided to work together.
Milen has been organizing events for years and knows how difficult is to find sponsors. He has also been on the other side – marketing manager being attacked by useless sponsorship propositions. Thus he came up with the idea that a technology facilitated service could be part of the solution in this market.
Teodosy is a technology and web guru that has fallen into the habit of creating successful online projects and getting involved in disruptive start-up challenges. He has co-founded three successful start-ups.
What are the biggest challenges you are facing right now?
There are several challenges that lie ahead of Sponsia. First, we need to secure seed investment so we could support our product development, customer acquisition and sales. We also want to expand our business to bigger international markets which may be a slow and difficult process.
Generating quickly the critical mass of events that will represent the big data advertisers need may be another great challenge, as well as educating sponsors to use this service online and self-serve.
What motivates you to do it?
We want to fulfil our vision and disrupt this huge sponsorship industry by solving the problem we have identified – the market is very fragmented, ad hoc, dependent on personal relations and limited to bigger brands and events.
How are you going to change the world? What’s the magic behind your startup?
Neither in Europe nor globally there is a single business initiation platform where event organizers and sponsors can meet and do business. By building Sponsia, we want to digitalize the existing offline relations between event organizers and sponsors and create new markets and opportunities for both sides through the power of technology.
Your biggest success so far?
For the last couple of years we achieved a lot. As a newly established company we received funding (50 000 EUR) by one of the biggest early-stage investors in CEE – the startup accelerator and VC fund Eleven, which we later graduated. We built our beta version of the platform and went out quickly to test it to the local market and gather feedback and traction.
We have some reputable international brands for clients (Sanofi, Microsoft, Jacobs, Xerox, DigitalK conference and others) and recurring revenue. We learned a lot and built a good database (more than 1300 registered events on our platform and 400 event organizers in database).
We built a new product – customized mobile event app that is being received very well by local event organizers.
How do you foresee your company in 3 years? 10 years?
>Here are our goals:
2 year goal – cover all European countries, get at least 10 000 recurring events, sell 1000 customized mobile applications and break even.
5 year goal – become Europe’s number 1 online sponsorship platform and capture 2% of the Sponsorship Market
Why have you started in Bulgaria? Do you need to move to succeed?
We started in Bulgaria because both of Sponsia’s co-founders are Bulgarian. We plan to keep our HQ and main operations positioned in Sofia because of its cost efficiency and positive business climate.