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STARTUP IN BULGARIA
the founder’s perspective
growth engineer
Imagga
board member
StartUP Foundation
3
Objects & Concepts
strawberry
food
fresh
fruit
healthy
closeup
dessert
organic
nutrition
CHALLENGES
#bulgaria #startupbg
corrupted & unsupportive
government
irrelevant university programs
lack of heroes and big exits
far from major startup hubs
lack of business and sales skills
not enough money for startups
SOME ADVANTAGES
#bulgaria #startupbg
Pravetz computers
tech savvy young people
hacker culture
low cost of living
small market
* http://alphadesigner.com/mapping-stereotypes/
friendly to foreign people
THE STARTUP ECOSYSTEM
#bulgaria #startupbg
risk
tolerance
tech
skills
capital
availability
startup
culture
role
models
gov
support
visible
success
RISKTOLERANCE
risk tolerance
fail once, fail for life
risk tolerance
idea sharing
risk tolerance
53% of young peple over 25 live with parents
TECH SKILLS
3rd worldwide & 1st in EU in
number of certified IT
professionals per capita
#2 in EU and #5 worldwide
among the most attra...
tech skills
Telerik Academy
tech skills
programming for kids in
partnership with CoderDojo
entirely sponsored and
developed byTelerik
9 000+ developer...
tech skills
Software University
tech skills
close cooperation with
software industry
matching students with
companies
30 000 taken a course
since 2014
100...
tech skills
ITTalentsTraining Camp
tech skills
85% of the graduates find
work right after they
graduate
matching students with
companies
250 graduate started
...
tech skills
Big Multinational Companies
tech skills
Unicorns are here too
CAPITAL AVAILABILITY
capital avaliability
EUR 11M fund
invested in 116 startups
everage size of investment
EUR 95 000
EUR 4,5M additional
inves...
capital avaliability
EUR 8M fund
invested in 63 startups
EUR 12M total funding
attracted
capital avaliability
EUR 46M under
management
NEVEQ I & II
invested in 22 startups
42% in enterprise software
32% in fintec...
capital avaliability
Business Angels
STARTUP CULTURE
startup culture
Support Organizations
startup culture
startup culture
Women inTech
startup culture
Startup Weekend Bulgaria
startup culture
DigitalK Conference
startup culture
CowOrKing Space
ROLE MODELS
role models
Diaspora at SV
role models
Attracting tallent from abroad
role models
Local Heros
role models
Local Heros
GOV SUPPORT
gov support
Lowest corporate rates in EU:
- 10% flat rate on taxable profit
- lowest social security
payments in EU
- cap of...
VISIBLE SUCCESS
visible success
biggest exit
visible success
bootstrapped
visible success
world leader - artificial climbing walls
visible success
visible success
visible success
@chrisgeorgiev
Bulgarian startup ecosystem
Bulgarian startup ecosystem
Bulgarian startup ecosystem
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Bulgarian startup ecosystem

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Bulgarian startup ecosystem

  1. 1. STARTUP IN BULGARIA the founder’s perspective
  2. 2. growth engineer Imagga board member StartUP Foundation
  3. 3. 3 Objects & Concepts strawberry food fresh fruit healthy closeup dessert organic nutrition
  4. 4. CHALLENGES #bulgaria #startupbg
  5. 5. corrupted & unsupportive government
  6. 6. irrelevant university programs
  7. 7. lack of heroes and big exits
  8. 8. far from major startup hubs
  9. 9. lack of business and sales skills
  10. 10. not enough money for startups
  11. 11. SOME ADVANTAGES #bulgaria #startupbg
  12. 12. Pravetz computers
  13. 13. tech savvy young people
  14. 14. hacker culture
  15. 15. low cost of living
  16. 16. small market * http://alphadesigner.com/mapping-stereotypes/
  17. 17. friendly to foreign people
  18. 18. THE STARTUP ECOSYSTEM #bulgaria #startupbg
  19. 19. risk tolerance tech skills capital availability startup culture role models gov support visible success
  20. 20. RISKTOLERANCE
  21. 21. risk tolerance fail once, fail for life
  22. 22. risk tolerance idea sharing
  23. 23. risk tolerance 53% of young peple over 25 live with parents
  24. 24. TECH SKILLS
  25. 25. 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
  26. 26. tech skills Telerik Academy
  27. 27. 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
  28. 28. tech skills Software University
  29. 29. 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
  30. 30. tech skills ITTalentsTraining Camp
  31. 31. 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
  32. 32. tech skills Big Multinational Companies
  33. 33. tech skills Unicorns are here too
  34. 34. CAPITAL AVAILABILITY
  35. 35. capital avaliability EUR 11M fund invested in 116 startups everage size of investment EUR 95 000 EUR 4,5M additional investment
  36. 36. capital avaliability EUR 8M fund invested in 63 startups EUR 12M total funding attracted
  37. 37. 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
  38. 38. capital avaliability Business Angels
  39. 39. STARTUP CULTURE
  40. 40. startup culture Support Organizations
  41. 41. startup culture
  42. 42. startup culture Women inTech
  43. 43. startup culture Startup Weekend Bulgaria
  44. 44. startup culture DigitalK Conference
  45. 45. startup culture CowOrKing Space
  46. 46. ROLE MODELS
  47. 47. role models Diaspora at SV
  48. 48. role models Attracting tallent from abroad
  49. 49. role models Local Heros
  50. 50. role models Local Heros
  51. 51. GOV SUPPORT
  52. 52. 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
  53. 53. VISIBLE SUCCESS
  54. 54. visible success biggest exit
  55. 55. visible success bootstrapped
  56. 56. visible success world leader - artificial climbing walls
  57. 57. visible success
  58. 58. visible success
  59. 59. visible success
  60. 60. @chrisgeorgiev

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