Telerik Creates SEE’s Largest Private Incubator for Tech Companies and Talent
Telerik’s founders announced the creation of Campus X – an incubator for startups and developed technology companies, mentors and venture investors. The project was announced a month ago by the co-founders of Telerik and Telerik Academy, who signed a USD 263 million deal to sell Telerik AD to US Progress Software in 2014, making one of the biggest deals in the technology sector in Bulgaria. The new project aims to support the development of start-up companies and accelerate the success of already developed ones.
By the spring of 2019, Campus X is planned to gradually expand to a total of 4 buildings with modern equipment and state of the art facilities on a total area of 18,000 sq. m. and capacity of more than 1,000 desks. Following the planned expansion, the already operational complex will become the largest private incubator for technology and talent in Bulgaria and the region.
Numerous teams working in technology companies with a total market value of about EUR 50 million and projects in the fields of healthcare, education, transport and logistics and office management are already working in the operating premises of the incubator in Mladost residential district. Tenants include Office RnD – a platform for management of shared space, Healee with projects for access to healthcare, Dronamics, the first strategic partner of the International Air Transport Association (IATA) for drones worldwide, Telelink City Services, which develops smart urban solutions, Find Me Cure, working to connect people with various illnesses with the most appropriate clinical trials for them, as well as the venture capital fund Eleven, which recently announced its next EUR 6 million private equity fund.
Campus X curently has a capacity of 200 jobs for freelance teams and specialists. Rents start at EUR 170 per month for an individual desk. There are indoor and outdoor parking spaces, meeting and conference rooms, equipped dining areas. Next year, after the construction of the other 3 buildings under the project, the campus will also have recreation and leisure halls and green areas. It will also have the capacity to integrate developed companies with larger teams of up to 150 people.
