BVCA presents at The Economist

BVCA Chairman, Evgeny Angelov, presented at the first conference of The Economist Bulgaria

The event SMART GROWTH was focused on discussing the challenges ahead of the small and medium-sized enterprises (SMEs) as part of their growth strategies. The conversation had three main aspects:

  • Market strategy, forecast budgeting, team management and mentorship opportunities for SMEs;
  • Financial instrument for further growth opportunities via European programmes and fund of funds; opportunities from the banking sector, as well as options for internationalising business contacts; and good business practices;
  • Technology for growth: cloud services, ERP solutions, digital marketing and best world practices.

Mr Angelov shared investment data from BVCA and country overview during the SMART GROWTH conference. The forecast is that the resource for investment in start-ups in Bulgaria will triple in the next two years. For the last eight years from a total of 6,000 applications for funding, 250 of the companies received investment and 40 of them have already realised exits. This means that the companies managed to reach a mature phase and are well established on markets, where they operate.

BVCA Chairman added that Bulgaria is continuing to be a very attractive place for R&D activity, with big multinational companies opening offices in the country, where they develop innovative future products. Examples of companies with R&D activity in Bulgaria are VmWare, Uber, FT, HP, among others.

According to the presented statistics, Bulgaria is rated #13 among the most peaceful countries in the world citing the index of Simon Anholt, and #3 in the world for production of ski and snowboard.

Read the full presentation of Evgeny Angelov, Chairman of Bulgarian Venture Capital Association, here: https://bvca.bg/wp-content/uploads/2019/06/20190313-EA-BVCA-presentation-Smart-Growth-conference-14-MAR-2019.pdf