The Sofia Municipality opened the applications for its annual “Academy for VISIONERS” – an initiative that supports smart solutions for the benefit of the community and innovative ideas for a cause of young people aged 15 to 29. Participants will work with mentors and renowned experts in four thematic areas – Culture and Art, Environmental Protection, Science and Innovation, and Animals at Risk. Part of the academy are training and practical sessions and support from ideation, through implementation, to assessment and reporting of the impact, as well as organizational and logistical support, assistance in promoting the projects, and more. The best ideas to be supported with funding of up to BGN 5,000. For more information and a registration link, please visit the website here.
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The international agency S&P Global Ratings confirmed Sofia’s long-term credit rating – ‘BBB with a stable outlook. According to the analysis, the Sofia Municipality demonstrates stable economic indicators, which are better than the average for the country, a diversified local economy, and low unemployment, as well as good financial discipline. The stable long-term credit rating of the city gives the municipality the opportunity to obtain good financial conditions for funding large infrastructure projects necessary for the development of the city.
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The sixth edition of the “My Green School, My Green Kindergarten” program has been launched. This year, nearly 50 institutions will take part in the initiative, and more than 600 trees will be planted by the children themselves. In Sofia this year, more than 4,000 trees will be planted on the sidewalks near streets and boulevards, as well as in parks, gardens, and green areas. The “New Forest” initiative is also underway. The forest planted a few years ago near the Suhodol landfill is growing, and last year the planting of a new forest near the village of Negovan with 86,000 saplings began. The Sofia Municipality is planning a third new forest near Novi Iskar.
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After two years of negotiations between the Sofia Municipality and the European Association of Zoos and Aquaria, the Sofia Zoo was approved to be the home of two black jaguars. The animals are part of the Association’s special program for priority species breeding in zoo settings and come from a national park in France. In 2018, the Sofia zoo expanded the cages of the big cats and created conditions for the
Five Sofia-based companies raised investments from the VC fund Vitosha Venture Partners. The startups are developing projects in areas such as sporting goods, food tech, agritech, marketing, and SaaS. The e-commerce software startup Dynamic pricing attracted 400,000 euros. The company will develop new functionalities in its platform. The vegan brand Brain Foods was supported with 250 thousand euros. The company plans to develop new products and expand to new markets. The digital marketplace for grain buyers and sellers Agriniser has been backed up with €200,000 to grow its team, improve the product, and enter new markets. The last two companies – Fly the Earth for professional sports goods and the content marketing platform youBhappy received an investment of 50,000 euros each.
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The German company Festo is to invest new BGN 30 million in its unit in Sofia. The funds will be used for the reconstruction and expansion of the production areas. The company will invest another BGN 20 million in new equipment. Thus, Festo will expand its electronics production capacity and start the production of new, more complex products. In Bulgaria, the company produces over 1000 items and continuously invests in expanding its activities in the country. Currently, Festo has a team of over 1,300 people and, in addition to the enterprise in Sofia, it has a unit in the city of Smolyan.
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The Sofia-based company Ampeco, which develops a cloud-based software platform for managing charging stations for electric cars, has attracted $16 million in funding. The investment comes from US-based fund BMW I Ventures, as well as from Launchub Ventures, Cavalry Ventures, and angel investors. Ampeco will expand its engineering and product solutions team and plans to open offices in North America, the United Kingdom, France, and Germany. The company has gained market positions in Europe and has taken its first steps in North America. It operates in over 40 markets with 62,000 charging points that are used by operators, energy companies, gas stations, telecoms, businesses with large electric car fleets, and more.
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The American company AI company LіvePerson announced that it is opening an office in Sofia with a plan to form a team of 130 people by the end of the year. LіvеРеrѕоn was founded in 1995 in the USA and today is a billion-dollar company with offices in Japan, Tokyo, London, and Singapore. The launch of a 24-hour product support center in Sofia
Between March 27 and April 1, Sofia hosted the pilot edition of the Accelerator Program for Startups in the Field of Agriculture between China and the CEE Countries. Invest Sofia was an institutional partner of the event and at the invitation of the organizers from the Center for the Promotion of Cooperation in the Field of Agriculture between China and the CEE Countries the Chief Executive Director, Ph.D. Maria Hristova joined as a member of the jury that voted for the winners of the accelerator.
42 companies from 11 countries applied for the program, and 20 startups hit the final competition on April 1 to present their innovative solutions in agriculture in Sofia Tech Park to the jury members, investors, representatives of academia and business, experts, media, and diplomats from CEE and China. The projects covered areas such as beekeeping, food waste reduction, farmer-to-end-user chain solutions, soil enrichment for vineyards, biodegradable packaging, air quality control and energy efficiency of buildings, plant protection technologies, and controlled release of bioactive components, smart irrigation systems, AI and IoT application in agriculture and much more. 
For the accelerator program, Sofia welcomed startup founders from China, Hungary, Greece, and other CEE countries. At the finals in Sofia Tech Park, the Hungarian startup bioreaction.net won third place and €10,000 in funding. Second place and a €15,000 prize went to the Greek startup farm-b.com and their smart platform for visualization and analyses of agro-data for production flow, crop status, machinery routine, meteo data, and many more. We are glad that the big winner of 1st place and a prize of 25,000 euros went to a company based in Sofia. This is the biodegradable laminate packaging startup LAM’ON. A few days ago, the company received yet another prestigious award – for the most innovative startup during the Innovation Awards by the French-Bulgarian Chamber of Commerce and Industry.
“We appreciate the exceptional and timely assistance regarding the pilot edition of the “Accelerator Program for Agricultural Startups between China and Central and Eastern European Countries”. Thank you for your support in this event, and we will be happy to continue our partnership in the future”, the Managing Director of the Center for the Promotion of Cooperation in the Field of Agriculture between China and the CEE Countries, Ph.D. Momchil Stanishev wrote in an official letter to Invest Sofia.
The final competition was broadcast live on YouTube. We invite everyone who
The CEO of Invest Sofia, Maria Hristova, Ph.D. took part in the opening ceremony of the 22nd edition of the largest career event in the country. The National Career Days started in Sofia on April 1 and will take place in 6 cities in the country up until April 11.
The forum gathers leading employers, their open positions, and career opportunities. Nearly 100 companies have registered for this year’s edition. In partnership with BESCO and AIBEST, the forum also sets up a Startup zone with a focus on the startup ecosystem in the country and the opportunities for developing and attracting young entrepreneurs. In a dedicated area, visitors will meet representatives of some of the most interesting and fast-growing young companies. The organizer of the event is the HR services company JobTiger. To date, more than 53,000 people have started their career path from the National Career Days.
Find out more information about the event here: https://careerdays.bg/bg/national-careerdays
The Bulgarian Investment Agency (BIA) presented the seventeenth Investor of the Year awards. At the invitation of BIA, Maria Hristova Ph.D., CEO at Invest Sofia, and Viktor Gusev, Head of the Investment Analysis Department, joined the official award ceremony at the Hyatt Regency Hotel in Sofia.
The competition once again featured the most significant investment projects implemented in Bulgaria in 2022. The applications were assessed according to a number of criteria, such as the volume of the investment, the number of new jobs created, the region where a new production unit was created or an existing enterprise was expanded, etc. The nominations of over 50 Bulgarian companies from all sectors of the economy were considered. 
Three Sofia-based companies grabbed Investor of the Year 2022 awards. Robert Bosch got the award for Investment in Human Capital. The Green Investment prize went to the Sofia-based company for the production of armored vehicles International Armored Group. In the Best Startup category, the award was presented to Ampeco – the Sofia software company that develops a platform for charging stations for e-vehicles.
Ruse-based Vitte Automotive Bulgaria received the award for Investment in Business Expansion. In the category Investment in Innovative Business won Intuitive Surgical Bulgaria – the Bulgarian entity of the Swiss company for medical equipment Intuitive Surgical Sarl. Three companies were awarded in the Sustainable Business category – Carlsberg Bulgaria, Libher Hausgerete Maritsa, and Teclas Bulgaria. This year the Burgas Municipality won the award in the category “Municipality in Bulgaria with the most investments for 2022. 
For the first time in the annual BIA awards, awards for Awakener and National Cause were presented. In the Awakener category, the prize received Prof. Martin Vechev from the INSAIT Institute – the first institute in Eastern Europe for computer science, artificial intelligence, and technology, structured as a special unit at SU “St. Kliment Ohridski” in partnership with the two largest tech universities of Switzerland – ETH Zurich and EPFL. In the National Cause category, the award went to Andrey Arnaudov, co-founder of Bulgaria Wants You initiative.
Alcomet – Shumen became Investor of the Year for 2022. The award was presented by President Rumen Radev.
The Sofia Municipal Privatization & Investment Agency (Invest Sofia) signed a Memorandum of Cooperation with the investment consulting and management company Intrac Ltd. Our new partners will assist us in providing services to investors in the city, including free initial consultations on various topics from their portfolio of services.
Intrac is involved in the development of projects under EU and other international grant programmes, private investment project preparation and management, business planning, financial and investment consulting, privatization of state companies, valuation, M&A, development of marketing plans, strategic advice, investors support, joint ventures, development of financial institutions, support to export-oriented businesses.
Intrac Ltd. is a member of the Bulgarian Chamber of Commerce and Industry (BCCI) and BCCI Investment Council.
The Agreement was signed at a meeting between Vladimir Tomov, Managing Director at Intrac and Maria Hristova CEO of Invest Sofia.
The Central Mineral Bath in Bankya got recognition from the Annual Construction Awards 2022. The building was awarded in the category “Investor in Recreation and Sports Facility 2022” and was presented during a Forum REAL – the largest event for construction, real estate, and investments in the sector. The public bath in Bamkya opened its doors to visitors in September 2022 after several years of restoration activities. It was built in 1911 during the reign of King Ferdinand and designed by the Bavarian architect professor Karl Hoheder, a leading specialist in the design of public SPAs throughout Europe at that time. Currently, the building is temporarily managed by the municipal enterprise “Sofiyski imoti” AD and welcomes visitors to the renewed relaxation areas, thermal zones, a kids pool with mineral water, steam, and salt baths.
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Museiko Children’s Museum was donated by America for Bulgaria Foundation to the Sofia Municipality. Thus, the science museum becomes a municipal property. “Muzeiko” is the largest science center for children in Eastern Europe with over 130 interactive games, science studios, and art workshops on an area of 2,000 square meters. Every month, the museum welcomes hundreds of children eager to enjoy the museum’s interactive exhibitions. Sofia municipality is planning to launch Robotics classes for children from 1st to 4th grades. The classes will start in September this year.
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Sofia Tech Park and the Regional History Museum in Sofia announced a joint project for the renovation of the “Triangular Tower of Serdika”. The Virtual Reality Laboratory in the Technology Park is working on creating a 3D image and interactive virtual reality for VR Headset, which will demonstrate the defense facility, the fortress wall, and the northern gate of the ancient city. To implement the project, the hall was equipped with VR Headset, TV screens, laser multimedia projector, photo frames, etc. The VR project will be implemented and made available for visitors to the museum by the end of the year.
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This year, the extension of the third line of the Sofia metro to Slatina, the Arena Sofia hall, Sofia Tech Park and the St. Anna Hospital will begin. Thus, 9 new kilometers of the subway will be gradually built. Three kilometers passing through the Poduyane area are currently under construction. A project for the expansion of the western part of Line 1 – from the Lyulin metro station to Sofia Ring Road is in
Three companies based in Sofia won statuettes from the annual BAIT Awards 2022. These are Foodobox – the app that reduces food waste from restaurants and shops, MYX and its platform solutions for advanced 3D visualizations, analytics, and digital twins, and the producer of decorative plants Pro Plants for the GRAS system that automates greenhouses according to real-time weather conditions. The companies have been awarded in the categories as follows: StartUp company, Successful Bulgarian ICT product/service, and Successful ICT project for the benefit of the Bulgarian economy.
The Sofia Higher School of Telecommunications and Posts received the Education Award for its interdisciplinary undergraduate programs in Telemedicine, Software Design in Medicine, and Communication Systems for the Organization of Air Transport.
The Special Award, which is traditionally presented by the President of the Republic of Bulgaria, went to Prof. Martin Vechev, conceptual architect at the Institute for Computer Sciences, Artificial Intelligence and Technologies in Sofia (INSAIT). The award is given for outstanding contributions to the development of ICT in Bulgaria. The Institute was established at the beginning of 2022 in partnership with two of the leading tech universities in the world – the Federal Institute of Technology in Zurich (ETH Zurich) and the Polytechnic University of Lausanne ( EPFL). The organization is part of Sofia University “St. Kliment Ohridski” and is the first institute in Eastern Europe for computer sciences, artificial intelligence, and technologies, established as a joint investment project of the state government and the local IT business. A year after its inauguration, INSAIT continues to pursue its ambition to become one of the leading research and educational centers in the world and to turn Bulgaria into a world destination for R&D and innovation.
Find out more about BAIT 2022 winners, including those in the categories Youth Award, Journalism Award and Public Administration from the Association’s website here.
At the invitation of the Bulgarian Chamber of Commerce and Industry (BCCI), our team took part in a B2B online event with companies from Pakistan. Victor Gusev, Head of the “Investment Analysis” department, presented the investment profile, priority industries, and the business environment in Sofia during the meetings organized by the Chamber of Commerce and Industry of the city of Sialkot, Pakistan and the Embassy of Bulgaria in Pakistan.
During the event, the latest information on the economic relations between the two countries was presented. The organisers presented the areas with the greatest potential for trade and investment between our countries.
The city of Sialkot is known as the export hub of Pakistan. It focuses on the production of globally distributed sports goods (including the soccer balls for the FIFA World Cup in Qatar), sports accessories, leather goods, medical equipment (surgical, dental), and clothing (including protective, military uniforms, and more). The main export markets for Sialkot are the USA and many European countries, with local companies looking for opportunities to expand destinations.
Bulgarian companies and entrepreneurs exploring the Pakistani market joined the event to discuss business opportunities with local institutions, companies, and future partners.
If you are interested in cooperation with companies from Sialkot and Pakistan or you are exploring opportunities in the South Asian country, you can contact our team for assistance or reach out to the Directorate of International Cooperation and International Organizations at BCCI by phone on 02 8117 489 or by email at interdpt@bcci.bg.
Between March 13 and 15, representatives from the Association of Indonesian Municipalities (APEKSI) and the municipality of Semarang – one of the most populated cities in Indonesia – were on a study visit to Sofia. The visit was organized under the International Urban and Regional Cooperation (IURC) program, an initiative funded by the European Union. The meetings in Sofia aimed to promote cooperation between the two cities in the field of sustainable urban mobility and good administrative practices in large cities.
The CEO of Invest Sofia Ph.D. Maria Hristova and Viktor Gousev, Head of the Investment Analysis department met with Mr. Mukhamad Khadhik, Assistant for Government of Regional Secretary (Semarang), Mr. Endro Pudyo Martantono, Head of Transportation Department (Semarang), Mrs. Indah Wibinastiti, General Manager at the Association of Indonesia Municipalities (Jakarta), Mrs. Dini Laraswati, IURC Indonesia Coordinator (Jakarta), and Pablo Gándara, Team Leader IURC Asia & Australasia. The guests were interested in the activities of Invest Sofia and the strategies and best practices we apply to attract investors to the city. Maria Hristova and Victor Gousev presented Sofia’s economic profile, the priority industries and the incentives in support of setting up or expanding business activities in the city, including the Sofia IS initiative, the Green Card for administrative service, networking activities with local and international businesses and entrepreneurial organizations. Vladimir Tomov – President of the Investment Council at BCCI, presented best practices in the infrastructure projects, accomplished through funding by international funds. 
Funded by the European Union, the International Urban and Regional Cooperation (IURC) programme promotes cooperation between cities on sustainable urban development and builds partnerships between EU and non-EU cities. The visit of our colleagues from Semarang is a follow-up to the study visit of Sofia city experts to Semarang, one of Indonesia’s most populous cities, which took place in June 2022.
Semarang is the capital and largest city of Central Java province. The city administration there is interested in improving its public transport system, especially tram transport, reflecting on the successful practices of Sofia. These include charging facilities in public transport, the SofiaCoin mobile app created under the INNOAIR project, measures to improve air quality, and initiatives to encourage more citizens to use public transport.
The three-day program included meetings with Mr. Barbalov, Deputy Mayor for Transport, representatives of Sofia Municipality, Sofia Electric Transport, the Urban Mobility Centre, Sofia Development Association and other stakeholders. It will include several
Bulgaria already has a Startup Visa issued to investors from outside the EU who want to develop high-tech projects in Bulgaria. Foreign founders can now apply for the document through the Management System of National Investments (MSNI) at https://enims.egov.bg/en.
Non-EU citizens with tech and innovative businesses are now invited to apply for a 1-year valid Visa that can be extended for two more years. The Ministry of Innovation and Growth accelerated the preparatory procedures by publishing the ordinance on the terms and conditions for the certificate two months ahead of schedule. Guidelines on how to apply are published on the website of the Ministry here.
Among the information required by entrepreneurs are data about the company, patents (if applicable), market presence, business goals, etc. After evaluation, a certificate for a high-tech or innovative project is issued. The applications are to be assessed by an Expert Council, part of which are also experts from the Bulgarian startup association – BESCO, the organization that worked hard during the last years for the adoption of an official regulation for the procedure. An ordinance on the terms and conditions for issuing, extending and revoking a certificate for a high-tech or innovative project was adopted by the Council of Ministers in October last year. Thus, our country joined a large part of the EU countries which already have established regulations for the procedure.
The Startup visa will help companies from countries outside the EU to set up their operations here faster, for the benefit of the Bulgarian economy, pay local taxes and attract investments, and bring in new skills, technologies and experts – benefits that will enrich the local business ecosystem and favor the labor market.
A detailed explanation of what the Startup visa is and what it is for can also be found on the BESCO website here.
For the tenth time in a row, the Bulgarian Industrial Capital Association (BICA) presented its annual Economy of Light awards at a ceremony in Sofia Hotel Balkan. At the invitation of the organizers, the CEO of Invest Sofia, Ph.D. Maria Hristova attended the event. Prime Minister Galab Donev and the Mayor of Sofia Yordanka Fandakova were part of the award ceremony together with representatives of regulatory authorities, companies, NGOs, BICA partners, and the media.
The annual competition recognizes achievements in the fight against the informal economy and rewards leading institutions and individuals with an active position and contribution in limiting the grey sector. The awards are part of BICA’s initiatives that aim to increase intolerance towards the informal economy, encourage active actions and encourage the positive impact of the business in the socio-economic environment. According to data from BICA’s latest research, almost 80% of the Bulgarian economy has left the gray sector.
Awards were presented in three categories: to state or municipal administrations, individuals or organizations, and journalists or media. The winners are as follows:
- Delyan Dobrev and members of the Parliament for the compensatory mechanism proposed to help enterprises against the electricity price increase for non-household consumers;
- Mihail Krastev, economic and political researcher and analyst at the Council for Economic and Public Policies for his research and analysis of the economic situation in Bulgaria and the world;
- Bloomberg TV Bulgaria and the “Business Start” electricity for the expert view on topics related to dealing with informal practices in the economy and the labor market in the country.
BICA members, social partners, members of the Public Council for Limitation and Prevention of the Informal Economy, state institutions, and media nominate the organizations and individuals. The winners were announced after a secret ballot by an expert jury of over 100 economists, public figures, media representatives, economists, scientists, entrepreneurs, and financial experts.