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The Balkan Edge: Unlocking Bulgaria’s Startup Wins for UK Investors
- Bulgaria offers significant potential for investors with undervalued startups and a strategic location between Europe and Asia, providing access to both markets.
- The Balkans, including Bulgaria, have been developing thriving startup ecosystems, reshaping the region's narrative and attracting investor interest.
- Bulgaria's strong talent base in IT and computer science, with over 50 STEM universities and a young tech workforce, fueled by government initiatives and educational reforms.
- The capital journey in Bulgaria started with the JEREMIE initiative in 2007 and gained momentum with the EIF funding two venture funds, Eleven and LAUNCHub, in 2012.
- Support infrastructure in Bulgaria, including co-working spaces, accelerators, and incubators, has expanded rapidly beyond Sofia, fostering startup growth in various cities.
- The macroeconomic environment in Bulgaria, pro-investment policies, low corporate tax rate, and initiatives like the Startup Visa Program make it an attractive hub for foreign investors.
- Bulgaria's IT sector is a key area of investment, leading in inbound foreign investments and encompassing software development, IT services, and emerging technologies.
- The ecosystem in Bulgaria is supported by several hubs like Sofia Tech Park, Bulgaria Innovation Hub, and initiatives enhancing deep tech capabilities and clean tech advancements.
- Accelerator and innovation programs in Bulgaria, along with local and global investors, have matured the startup landscape, resulting in notable achievements like Payhawk and Dronamics.
- Bulgarian startups face funding challenges due to limited capital options, public program reliance, and a need for smarter capital allocation and strategic guidance.
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