Bulgaria has some advantages for startups including a tech savvy young workforce, low costs of living, and friendly policies towards foreign entrepreneurs. However, the startup ecosystem also faces challenges such as a lack of support from government, outdated university programs, and few local role models or big acquisition successes. Recent developments have improved the situation, with growing tech skills training programs, new startup funds, and support organizations working to develop the culture.

1. STARTUP IN BULGARIA
the founder’s perspective

2. growth engineer
Imagga
board member
StartUP Foundation

3. 3
Objects & Concepts
strawberry
food
fresh
fruit
healthy
closeup
dessert
organic
nutrition

7. CHALLENGES
#bulgaria #startupbg

8. corrupted & unsupportive
government

9. irrelevant university programs

10. lack of heroes and big exits

11. far from major startup hubs

12. lack of business and sales skills

13. not enough money for startups

14. SOME ADVANTAGES
#bulgaria #startupbg

15. Pravetz computers

16. tech savvy young people

17. hacker culture

18. low cost of living

19. small market
* http://alphadesigner.com/mapping-stereotypes/

20. friendly to foreign people

21. THE STARTUP ECOSYSTEM
#bulgaria #startupbg

22. risk
tolerance
tech
skills
capital
availability
startup
culture
role
models
gov
support
visible
success

23. RISKTOLERANCE

24. risk tolerance
fail once, fail for life

25. risk tolerance
idea sharing

26. risk tolerance
53% of young peple over 25 live with parents

27. TECH SKILLS

28. 3rd worldwide & 1st in EU in
number of certified IT
professionals per capita
#2 in EU and #5 worldwide
among the most attractive
outsourcing destinations
60% of Startup Weekend
participants are developers
tech skills

29. tech skills
Telerik Academy

30. tech skills
programming for kids in
partnership with CoderDojo
entirely sponsored and
developed byTelerik
9 000+ developers
trained on site since 2009
30 000+ via online
resources

31. tech skills
Software University

32. tech skills
close cooperation with
software industry
matching students with
companies
30 000 taken a course
since 2014
1000 developers graduate
a year
1- 3 years programs
all courses under CC

33. tech skills
ITTalentsTraining Camp

34. tech skills
85% of the graduates find
work right after they
graduate
matching students with
companies
250 graduate started
working as programers
since 2013
partnership with 60
software companies

35. tech skills
Big Multinational Companies

36. tech skills
Unicorns are here too

37. CAPITAL AVAILABILITY

38. capital avaliability
EUR 11M fund
invested in 116 startups
everage size of investment
EUR 95 000
EUR 4,5M additional
investment

39. capital avaliability
EUR 8M fund
invested in 63 startups
EUR 12M total funding
attracted

40. capital avaliability
EUR 46M under
management
NEVEQ I & II
invested in 22 startups
42% in enterprise software
32% in fintech
26% in Internet related
3 successful exits

41. capital avaliability
Business Angels

42. STARTUP CULTURE

43. startup culture
Support Organizations

44. startup culture

45. startup culture
Women inTech

46. startup culture
Startup Weekend Bulgaria

47. startup culture
DigitalK Conference

48. startup culture
CowOrKing Space

49. ROLE MODELS

50. role models
Diaspora at SV

51. role models
Attracting tallent from abroad

52. role models
Local Heros

53. role models
Local Heros

54. GOV SUPPORT

55. gov support
Lowest corporate rates in EU:
- 10% flat rate on taxable profit
- lowest social security
payments in EU
- cap of the monthly social
security base for 2016 - EUR1300

56. VISIBLE SUCCESS

57. visible success
biggest exit

58. visible success
bootstrapped

59. visible success
world leader - artificial climbing walls

60. visible success

61. visible success

62. visible success

63. @chrisgeorgiev