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The capital of Bulgaria, Sofia, was ranked among the top 25 cities in Europe at the “fDi and TNW’s Tech Cities of the Future” for 2020/21.
Sofia is one of the two South-East European cities included within this first- time classification. The aim of this is to point out the most promising cities whose atmosphere for start-ups is most friendly and where investors seek to invest in new high-tech and innovative companies. The recognition comes shortly after Bulgaria was ranked a top Digital Riser in Europe and North America for 2020, by the World Economic Forum Report.
Due to the it’s thriving IT sector, Bulgaria has increasingly attracted investor interest and has become renowned as one of the most popular start-up destinations of the Balkans. The favorable environment in the technology sector has contributed to the founding and rapid growth of small and creative start-up in addition to hyper-growth scale-ups.
The most promising Bulgarian tech start-ups have developed software, systems and applications that help serve numerous industries amongst which that of finance. The requirement for advanced analytical solutions has presented start-ups with the challenge of developing solutions for automation in supply-chain forecasts, automated decision- making and smart payment solutions. Furthermore, lot of effort is also invested in finding the best tech solution for every city’s smart infrastructure, such as in the field of waste collection, logistics etc.
Among start-ups engaged in blockchain technological solutions, are also some dealing with the launching of products that are not typically considered “traditional” in terms of targeted industries. Such start-ups develop smart solutions for the agri-biotech, robotics, science research, innovative therapies, event planning and many more.
In conclusion and without a doubt, we can surely say that Bulgaria, and particularly Sofia, has grown to be one of the most favorable places for launching and developing start-up companies in the world!
For further information please do not hesitate to contact Milen Milev, Legal Advisor at Eurofast Global, at milen.milev@eurofast.eu
Eurofast is a regional business advisory organization employing local advisors in over 22 cities in South East Europe & Middle East . The organization is uniquely positioned as one stop shop for investors and companies looking for professional services in South East Europe & Middle East.
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Milen Milev
Legal Advisor
milen.milev@eurofast.eu