Support the Growth of CEE's Startup Ecosystem

by Bulgaria Innovation Hub, Inc.
Play Video
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem
Support the Growth of CEE's Startup Ecosystem

Project Report | May 30, 2024
Bulgaria Innovation Hub - Mid Year Report

By Pavlina Yanakieva | CEO/Executive Director

BIH Spring'24 cohort
BIH Spring'24 cohort

Bulgaria Innovation Hub (BIH) mission is foster knowledge exchange and cross-cultural collaboration between the entrepreneurial communities in Bulgaria, South Eastern/Central Eastern Europe and the US in order to drive innovation, growth and human development.

Here are some of the achievements that program participants reached in the last few months. 

1. Funding 

Since the last report, 6 BIH portfolio companies have announced new funding - attracting a total fresh capital of over €16.8 million or $18 million. This brings the total capital raised by companies after participating in BIH programs to nearly $147 million.

2. Exits 

2 BIH portfolio companies were acquired by global industry leaders:

Shkolo.bg platform is implemented in more than 1,800 educational institutions in Bulgaria, with more than 1 million daily visits.

Before the acquisition, the company was trusted by more than 2,8K global brands on Shopify & Shopify Plus, to which it brought up to 30xROI.

3. US Expansion and Notable Growth

Approximately, 115 new jobs have been created by BIH portfolio companies since the time of the last report. The total headcount of BIH portfolio companies is now over 2000 people, with nearly 1200 of those jobs created after participating in the  BIH program.

EnduroSat

  • In 2023, EnduroSat doubled its revenue compared to 2022, reaching approximately 13.5 million euros and 250+ customers.
  • The company hired 55 new people and currently has 160 employees.
  • The space tech innovator already has offices in six locations worldwide - Bulgaria, where its main activity is, Italy, France, Luxembourg, Germany, and the United States.

With its global success, EnduroSat is still committed to giving back to the community in Bulgaria - The company launched a Space Education Lab to support the development Bulgaria’s future space engineers

Ampeco 

  • On the revenue front, after last year Ampeco was recognized by Deloitte as one of the fastest-growing technology companies in CEE (1627% over 3-year period), this year the firm has continued attracting bigger and bigger customers.
  • Currently, Ampeco has 150+ customers, with 95, 000 EV charge points in 50+ markets.
  • The company’s team counts over 120 people as of April 2024.

NitroPack

  • At the beginning of the year, the company opened its first US office and hired the first 4 colleagues there.
  • NitroPack speeds up 208,000+ websites every day.

None of this would have been possible without the support of our sponsors and donors, including the America for Bulgaria Foundation, Payhawk, Ampeco, Sofia Ventures, Morningside Hills Ventures, TeamGPT, Bright Cap Ventures, and many more. More that twelve program alumni have now become donors, emphasizing the program's impact and the cycle of growth within our community.

Looking ahead, our vision includes cultivating a thriving alumni network, expanding our regional influence into South Eastern and Central Eastern Europe, and positioning Bulgaria and the region as a global hub of technological innovation. Together, we aim to make BIH not just an accelerator but a catalyst for lasting change.

We extend our deepest gratitude to every member of the BIH community, as your dedication and collective impact truly define our success.

Links:

 

Sequoia Pitches
Sequoia Pitches
The BIH Sharks
The BIH Sharks
Vodar pitch
Vodar pitch
FutureUnicorns at Demo day
FutureUnicorns at Demo day
Tenyks at Demo Day
Tenyks at Demo Day

Links:

Share on Twitter Share on Facebook

About Project Reports

Project reports on GlobalGiving are posted directly to globalgiving.org by Project Leaders as they are completed, generally every 3-4 months. To protect the integrity of these documents, GlobalGiving does not alter them; therefore you may find some language or formatting issues.

If you donate to this project or have donated to this project, you can receive an email when this project posts a report. You can also subscribe for reports without donating.

Sign up for updates

Organization Information

Bulgaria Innovation Hub, Inc.

Location: San Francisco, CA - USA
Website:
Facebook: Facebook Page
Project Leader:
Bulgaria Innovation Hub
San Francisco , CA United States
$11,745 raised of $15,000 goal
 
22 donations
$3,255 to go
Donate Now

Help raise money!

Support this important cause by creating a personalized fundraising page.

Start a Fundraiser

Learn more about GlobalGiving

Teenage Science Students
Vetting +
Due Diligence

Snorkeler
Our
Impact

Woman Holding a Gift Card
Give
Gift Cards

Young Girl with a Bicycle
GlobalGiving
Guarantee

Get incredible stories, promotions, and matching offers in your inbox

WARNING: Javascript is currently disabled or is not available in your browser. GlobalGiving makes extensive use of Javascript and will not function properly with Javascript disabled. Please enable Javascript and refresh this page.