By Pavlina Yanakieva | CEO/Executive Director
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
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
NitroPack
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.
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