Sofia Success Stories
Teletek Electronis, the Sofia-based company for security systems and fire alarm systems, has started the construction of a new production base in the “Voenna Rampa” industrial zone in Sofia with an investment of BGN 14 million. The building is about to become operational in 2022 and increase the company’s production and R&D capacity. It is expected that new machines and production equipment, modern laboratory equipment and test facilities will be introduced. The company plans a larger product range, entering new markets and expanding its team with specialists in production and development. Teletek Electronics works with traders in signaling and fire alarm products in over 80 countries. Its systems are installed in millions of office, administrative, and public buildings in Bulgaria and worldwide. For its project, the Sofia-based company received a Class A certificate from the Ministry of Economy.
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The transport and logistics company TTL EOOD also received a class A investment certificate for constructing a base for locomotives and wagons repair and a warehouse. The company will invest BGN 4.4 million and create new jobs. TTL EOOD offers services in the organization, logistics, and transportation on domestic and international lines, including specialized wagons, trucks, and containers for land and water transport.
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Seven startups entered the fourth group of Bulgaria’s accelerator program for international growth Innovation Hub (BIH). Six of them are Sofia-based, and one is based in Plovdiv and has a team in Sofia. Ampeco, Boleron, Escreo, Evrotrust, Primeholding, Shkolo, and SoftUni have been accepted into the 3-week program. The BIH Accelerator Program provides participating teams with nearly 30 online seminars on business planning, team building, marketing, sales, and investor work, and the opportunity to learn from the experience of Silicon Valley mentors and present themselves to US investors. BIH’s next growth program is expected to take place in March 2022. The hub implements activities for cooperation between the entrepreneurial communities in the USA and Bulgaria works for developing innovations, entrepreneurial thinking, and the becoming of Bulgarian technology companies into competitive world leaders.
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Brain Foods, the Sofia-based startup for vegan foods and beverages, has also received recognition for its great growth potential. The company is part of Sofia Tech Park’s ecosystem and has been accepted in the world’s leading incubator ProVeg, which develops startups focusing on alternative plant and cultivated foods. Only eight teams from Asia and Europe have gained access to the program demonstrating a clear innovative approach to food technology. Participation in the incubator will allow Brain Foods to work with experts, scientists, and technologists from the industry, with investors and mentors to accelerate the company’s growth.
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The Bulgarian division of SAP, the world’s leading manufacturer of business process management software, has bought the newly built Class A office building Park Lane Office Center. Without announcing the value of the deal, Park Lane claims that this has been the largest investment in the office sector in Bulgaria for the last three years. The building is 11 floors high, with an area of 34,800 sq.m. It is located in the dynamically developing area of the “Hladilnika-Vitosha” Research and Production Zone, near a shopping center, metro station, city park and ring road, and Vitosha Mountain. SAP’s development center in Sofia is key to the company’s operations, and the team in our capital is constantly growing. Currently, employees are working in three offices with different locations in the city. Their relocation to their own new office building in Sofia is expected to take place by the end of next year.
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The international company for automotive components Vishteon is also growing its team in Sofia. The company’s technology center in Sofia is a leading hub for Europe and is looking for another 100 experts for the work of Visteon Electronics Bulgaria on driver assistance systems and driving safety, which it provides to automotive manufacturers from around the world. The Sofia office employs over 940 agents with expertise in software, hardware, and mechanics. The company has announced the newly open positions on the career page on its website here.
