Bulgaria is rapidly establishing itself as a major player in the global tech scene by offering a 10% tax rate, a highly skilled workforce, and notable inclusivity in the workforce, with nearly 29% of ICT roles held by women. The country's growing reputation was exemplified by the rise of Telerik and the emergence of Payhawk, its first homegrown unicorn. Investments in Bulgarian startups surged to over €264 million in 2023, reflecting a growing interest from global investors and further enhancing Bulgaria's ranking in the global startup ecosystem.
Bulgaria's unique blend of a flat 10% tax rate, a strong technical workforce, and women representation in tech has positioned it as an emerging tech hub in Europe.
The success of companies like Telerik and the emergence of Payhawk as Bulgaria's first unicorn are transforming the country into an attractive destination for tech investment.
With Sofia being ranked the most cost-effective city for fintech, Bulgaria offers favorable conditions for startups and has increased its global startup ranking significantly.
Bulgaria's commitment to nurturing homegrown tech talent and inclusivity in tech roles stands out, marking it as a model for other aspiring tech ecosystems.
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