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TNW X Recognises Sofia for Transforming into a Major Tech Hub in Europe

TNW X marks that Sofia has turned into a major technology center in Europe by publishing a matrix with over 170 participants, which represent the tech startup environment in the capital.

TNW X, together with fDi Intelligence, is celebrating successful European startup ecosystems by mapping out their key players, analyzing where their greatest potential lies and ranking them to find out what makes them strong. During the last months, TNW X has published matrices for other key locations such as Riga, Vilnius, Dublin, and Munich.  

With the publication of the matrix for Sofia, TNW X points out that in recent years the city has become a major tech hub in Europe with a highly skilled digital workforce. Furthermore, major software companies have their global R&D departments in Sofia and foreign investment in the Bulgarian software and ICT industry has tripled since 2015.

X is TNW’s digital transformation and innovation consultancy label, including online media (, The Next Web technological festival in Amsterdam, a global database of startups, an international platform for cooperation between co-working spaces, and much more. The organization connects businesses, institutions, investors, and startups with a global mission to give impetus to digital transformation and innovations.