Startup Cities: Sofia, Bulgaria - Me Convention 2018
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Denitsa Simeonova, CEO, Association of the Bulgarian Leaders and Entrepreneurs (ABLE) presented Sofia as part of the Startup Cities programme at the Me Convention 2018 in Stockholm featuring 20 cities, hosted by Sam Michel. More at: https://toodlepip.co.uk/2018/20-startup-cities/
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Startup Cities: Sofia, Bulgaria - Me Convention 2018
- 1. SOFIA: Not So Well-Known …YET! Denitsa Simeonova, CEO of
- 2. 45% English- speakin g people Low busines s costs ICTR&D Cheap costs of living Strong tech skills 06 01 02 0304 05 96% internet users with speed higher than 4 mbps 89% higher are the living& working costs in Berlin compared to Sofia 50% of students study a 2nd foreign language 10% flat corporate and personal income tax 44.6% of the workforce in the technology sector are women 3rd city in Europe in number of start-ups, 90% of them in the ICT sector “Sofia is Among the 10 TOP Cities Around the World to Launch Your Startup” - Source: Invest Sofia Agency
- 3. Coca-Cola opened its second largest IT development centre in Sofia. Coca-Cola Tech Innovation Lab is focused on artificial intelligence, cyber security and data analysis Corporate Knowledge-Intensive Investment FT Core, which supports all the platforms of the group, analyses data and trends, moved its entire technology office in Sofia 2nd largest R&D center is located in Sofia with primary focus on payment infrastructure More than 700 engineers, of which half are programmers, are developing automotive electronics and software for Mercedes- Benz in Visteon’s facility in Sofia
- 4. The Innovation Ecosystem is Thriving
- 5. Growing Investment Activity 210 Startups$74 Million 138 Startups $18 Million 20 Startups $4 Million 2012 2014 2016 Source: European Investment Fund +$170Million inthenext3years
- 6. ICT & BPO Regional and in the future global center Life sciences Fastest growing sector Manufacturing High-value added productions Smart City High-level of digital penetration FinTech Biggest potential in the CEE region New and Innovative as well as Traditional Sectors
- 7. The US based Progress Software acquired Telerik, a leading provider of application development tools Noteworthy Exits PROS Holdings Inc. acquired Vayant which develops SaaS platform for airfare search needs The global private equity firm Riverside Company together with Charles Taylor Insuretech acquired Fadata, an innovative insurance and IT solutions company Francisco Partners, a global tech-focused PE firm, acquired a majority stake in Dynamo software, a developer of cloud CRM systems for investment management & investment portfolios $262M $35M $22M $50M
- 8. HackConf 2018 01 Innovation Explorer 201902 DigitalK Conference 201903 Sept 15-16th Febr 21st 2019 June 6-7th 2019 Top 3 Must-Visit Events
- 9. Any Questions? dsimeonova@ablebulgaria.org | www.ablebulgaria.org
Editor's Notes
- - Continued development of digital infrastructure delivers high quality internet connection. Good digital infrastructure and high level of ICT expertise attract an increasing number of R&D projects and labs in Sofia. - Sofia is a very well connected city – short flights connect with the biggest European hubs. The city is famous for its openness to foreign cultures, rich artistic agenda, constantly improving city environment and cheap cost of living compared to other European capitals. - The labour force in Sofia is educated and is characterized by a high level of foreign language fluency. - The leading advantage of the Bulgarian capital is the 10% direct tax (corporate and personal income tax) which are the lowest in the region, together with Macedonia. - Sofia is home of the most renowned state and private universities in the country with deep traditions in mathematics, engineering, programming and sciences. There are 110 000 students in the 23 universities in the city. Sofia Tech Park – an infrastructure investment of the Bulgarian government opened at the end of 2015, is aiming to boost the development of research, innovation and technological capabilities of the city and the country. Gateway to the markets like Asia, while being part of the EU Capital requirement of 1 Euro Great ICT test market
- PROSPECTS IN FRONT OF THE YOUNG EU ENTREPRENEURS Тhere are bright perspectives in front of the young entrepreneurs connected to: the development of the regional potential in the countries taking advantage of the existing EU mechanisms expanding the potential of NGOs for providing the needed support on all levels – from early stage to scaling.
- Explain in this slide that they can contact BESCO and ABLE to get support to start business in Bulgaria Also they can contact with the Invest Sofia agency
- The startup scene saw 210 companies raise $74 million in 2016, up from 20 companies and $4 million in 2012, according to the European Investment Fund. Great ICT test market and good condition for the development of services of the digital and sharing economy. EU Funding Opportunities Companies registered in Bulgaria have access to EU funds on both – national and EU levels, which provides many opportunities for direct business partnerships with companies from various European countries. Use Sofia as your gateway into the markets of the Middle East and the Russian Federation, while setting operations in an EU-member country; 2. Easy to Start a Business Capital requirement of 1 Euro; Sofia is the third city in Europe in number of start-ups, with 90% of them in the ICT sector;
- 7. Is there a particular area which your city focuses on e.g. Entertainment and Content Technology, Big and Smart data, Health and Wearables, Payment and Fintech? http://investsofia.com/en/key-industries/ Something very exciting is coming this fall to Sofia University: the first crossfield innovation space for life sciences! A place where students from biology, chemistry, physics, pharmacy and biotechnology can come together and innovate! CASI will open doors in the end of September! Center for applied sciences and innovation
- PROSPECTS IN FRONT OF THE YOUNG EU ENTREPRENEURS Тhere are bright perspectives in front of the young entrepreneurs connected to: the development of the regional potential in the countries taking advantage of the existing EU mechanisms expanding the potential of NGOs for providing the needed support on all levels – from early stage to scaling.