Cyprus:

Sofia Among The Top 25 Tech Cities Of The Future For 2020/21


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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 [email protected]

Eurofast is a regional business advisory organization employing
local advisors in over 22 cities in South East Europe & Middle
East (SEEME). The organization is uniquely positioned as one stop
shop for investors and companies looking for professional services
in South East Europe & Middle East.

Originally published by Eurofast, September 2020

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
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