BOYANOV & Co. Reaffirmed its Commitment to Supporting the Startup Ecosystem in Bulgaria
BOYANOV & Co. proudly announced the successful completion of the “Life-Cycle of the Start-Ups: Challenges” international conference held in Sofia, Bulgaria on 7 November 2024. This landmark event brought together startup founders, venture capitalists, legal experts, and industry leaders from Europe to discuss the critical challenges and growth opportunities startups face at each life-cycle stage. Diplomats from the embassies of the USA, United Kingdom, Japan, Korea, India, Indonesia, Montenegro, Finland, and other countries from Central & Eastern Europe attended the forum.
The conference focused on navigating the landscape of the Bulgarian start-up ecosystem through its major challenges in 2025; government programs, grants, and EU funds for financing start-ups in 2025; and broadening horizons for international expansion of the CEE start-ups and venture capital funds. The views of Teodor Radonov, Head of the European Investment Bank Group in Bulgaria; Evgeni Angelov, Chairman, Bulgarian Private Equity & Venture Capital Association (BVCA); Dobromir Ivanov, Chairman of the Board, BESCO; Nikolay Markov, Member of the Supervisory Board, Fund of Funds, etc. attracted the attention of the audience.
The conference gave a good chance to the participating start-ups and venture capital funds to learn how to maximize their opportunities from experienced international lawyers from Dorda, Van Campen Liem, Gide Loyrette Nouel, and Mason Hayes Curran law firms. A Fire-side chat moderated by Max Gurvits, Deputy Chairman, BVCA and Managing Partner, Vitosha Venture Partners presented the perspective of venture capital funds.
“We are thrilled to have organized such a pivotal event that fosters dialogue, knowledge exchange, and networking opportunities among startups, venture capital funds, and professionals committed to innovation,” said Borislav Boyanov, Managing Partner, BOYANOV & Co. “The conference highlighted the importance of a well-rounded approach to legal and business challenges to help startups thrive.”, he said.
“The increase in the number of high-tech startups is a significant trend. We can report high potential for the development of startups in the coming years in the following sectors: biotechnology, fintech, Internet of Things, smart cities, artificial intelligence, virtual and augmented reality, robotics, electric vehicles and autonomous cars, drones, 3D printing, and process digitalization. To achieve more results in the long term, the government continues to make efforts to improve the conditions for doing business, and for the development of startups in Bulgaria. Here, I would like to mention the legislative regulation of the “Variable Capital Company” – as a form of a startup business with advantages for equity investors; the “Startup visa” – as a measure to attract entrepreneurs from third countries to the Bulgarian market, to create enterprises that use high technology and implement research and development activities; Also, Bulgaria’s accession to the Declaration on the introduction of the “EU Startup Nations Standard of Excellence”, Mr.Petko Nikolov, Minister of Economy and Industry said in his congratulatory remarks.
“All this makes Bulgaria one of the best countries in Europe to start a new business, we have all the prerequisites to establish ourselves as a startup center. The strategic documents and the Programs that are being implemented: the Program “Competitiveness and Innovation in Enterprises” 2021-2027, and the Recovery and Resilience Plan, give priority to implementing measures for improving access to financing, diversifying sources and instruments for financing, promoting the use of alternative sources of funding, and overcoming the shortage of qualified personnel”. Minister Nikolov also said.
With the strong turnout and active participation, BOYANOV & Co. reaffirmed its commitment to supporting the startup ecosystem by organizing events that provide knowledge, legal guidance, and industry connections vital for new businesses.