Sofia – digital capital city
of the new markets
In particular, advancement in the environment for digital entrepreneurship was preconditioned by the growth of a successful IT-BPO industry in the city. Outsourcing hubs of global leaders like SAP Labs (in Sofia since 2000), HP (in Sofia since 2006), VMware, etc. now employ thousands of ICT professionals and set global level quality standards and business acumen.
Sofia is home of the most renowned state and private universities in the country with deep traditions in mathematics, engineering, programming and sciences.
Both the expertise level of ICT professionals in Sofia and the availability of human capital drastically improved in recent years. Private software schools and universities yielding thousands of professionals annually proved successful in bridging the business and academia. Many young people from Sofia study abroad and increasingly come back home due to attractive opportunities in multinational companies residing locally.
English language is widely spoken among the young population, (25-45 yrs.) which accounts for 45% of the total Sofia population. The city offers abundance of skilled and motivated professionals at a fraction of the average EU labor cost. The intensified bridge between business and academia, results in improved planning and capacity of the human capital.
In addition, Bulgaria offers a very attractive taxation policy – a 10% flat rate for both companies and personal income. The general cost of doing business is also among the lowest in Europe – affordable and quality office space.
Continued development of digital infrastructure delivers high quality internet connection including broadly available wireless and LTE and complete fiber optic coverage at low broadband cost. Good digital infrastructure and high level of ICT expertise attract an increasing number of R&D projects and labs in Sofia.
R&D and Innovations foundation
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. The objective of this project is to accelerate the competitiveness of science and entrepreneurship, by improving the knowledge exchange between academia and business, supporting startups and innovative ideas.
Sofia is a very well connected city – short flights connect with the biggest European hubs. Easy access to the entire European Union and next day delivery reach of 500 million of the wealthiest consumers in the world. Public transport network in Sofia is well developed and ever expanding, offering efficient, inexpensive and convenient connectivity and commuting.
Culture and quality of life
Openness to foreign cultures, rich artistic agenda, constantly improving city environment, cheap cost of living, accessible leisure activities and well maintained public parks and facilities offer great lifestyle and quality of life.