SOFIA’s PLACE at Webit.Festival Europe 2019
High-level Conference in Brussels Celebrates the Work of Sofia and 40 Other European Cities on Their Individual Digital Transformation Strategies

Vladimir Danailov: Top Companies Open their Regional and Global Tech Hubs in Sofia

Even though it started just 7 years ago, the ecosystem of fast developing startup enterprises in Sofia is already comparable to that in Vienna. At present, there are 16 venture capital funds and 500 startups in Sofia This was reported by the CEO of the Sofia Investment Agency, Mr Vladimir Danailov at the Tenth Credit Risk Management Conference. The event was organised by  ICAP – the largest business information and consultant group in Southeastern Europe.

“Many companies, world leaders in their sectors, open not just a local branch, but their technological hub for Europe or even their global one. Bulgarian companies are increasingly engaged in international expansion and startups are scaling up. This comes to show that we are living in one of the best times for running a business in Bulgaria” Danailov said. He emphasised that Sofia Investment Agency is the first instrument in Bulgaria for regional development.

The Agency provides investors and entrepreneurs with information and opportunities to increase access to markets, support them with their communication with the municipal and state administration, as well as with funding opportunities. In addition to establishing close contacts between foreign and local companies in Bulgaria, Sofia Investment Agency also helps them reach potentially interesting markets.