How BreakingGrounds Showcased Bulgaria’s Tech Ecosystem to 250,000 Investors and Innovators

Bulgaria is poised to become a major player in the digital economy, with its first unicorn established and the share of the digital economy in its GDP expected to reach 16% by 2025. This growth has been fueled by years of attracting investors to the country’s strategic location, tech talent, and cost-effective operations, making Bulgaria an emerging star in the SaaS and ICT sectors. Companies from the region are increasingly opening offices in Western Europe and expanding further afield.

To capitalize on this momentum, the #BreakingGrounds initiative, led by The Recursive’s Storytelling Studio, aims to put Bulgaria and the Central and Eastern Europe (CEE) region on the global map. This initiative seeks to attract investment and technological development by amplifying the reach of the region's startups and connecting them with investors and industry leaders. The vision for #BreakingGrounds is to establish Bulgaria as a deeptech hub by 2027, and significant progress is already being made towards this goal.

Boyko Takov, Executive Director at the Bulgarian SME Promotion Agency, highlighted the importance of public-private partnerships in this endeavor. He stated, “Our profit as a public agency is solely when companies succeed—that is our mission and goal.” The agency is focusing on supporting Bulgarian SMEs as they expand into international markets. Takov emphasized the collaboration with The Recursive to elevate the profile of Bulgarian startups: “The #BreakingGrounds initiative is a wonderful platform to showcase our companies to the world, their achievements, and to open new horizons for them.”

BreakingGrounds brings Bulgarian startups, scaleups, VCs, and government officials to the global stage, using audience analysis to enhance their public relations, digital presence, and social media campaigns. It also selects tech leaders to represent the region at major tech conferences. Past destinations have included Web Summit, Slush, and DLD Conference, where delegates conducted 567 meetings last year. In 2025, the initiative plans to attend conferences in the US (such as SXSW and SEC) and even Davos.

Iskren Krusteff, Co-Founder & CEO of Integrator JSC, noted that #BreakingGrounds enhances trust in Bulgarian business on the international stage. He said, “For Integrator JSC, #BreakingGrounds is a symbol of good collaboration among Bulgarian institutions, businesses, the academic community, and investment partners, who together demonstrate the benefits of high work ethics, quality and scalable products, and services but moreover unity that we have not witnessed before.”

The relatively low profile of Bulgaria has fostered a highly collaborative system, with cross-border initiatives across energy and infrastructure development distinguishing its tech sector. Bulgaria’s Sofia Tech Park plays a pivotal role in these partnerships, making the country a leading fundraiser of venture capital in Southeastern Europe (SEE).

Pavel Lisev, CEO at FMFIB, highlighted Bulgaria’s progress: “Bulgaria has made a quantum leap in building an interconnected and tech-enabled ecosystem with regional links, pan-European exposure, and global access.” The Bulgarian government has prioritized the tech sector, with successful initiatives like the International Technical Fair and AWS Community Day Bulgaria contributing to the sector’s growth.

BreakingGrounds has strengthened private-public partnerships and ensured alignment on messaging to bring key stakeholders together. This year, the initiative has planned a total of 11 conferences, starting with the Tech.eu Summit in London in 2024. Upcoming events include Bits & Pretzels in Munich, How To Web in Bucharest, Web Summit in Lisbon, Slush in Helsinki, and FinTech Connect in London. Engaging with various ecosystem stakeholders—startups, investors, corporate leaders, academia, associations, and policymakers—allows The Recursive to identify common goals, foster strategic connections, and streamline communication into one integrated program. This approach is designed to maximize the impact and visibility of Bulgaria’s tech sector on the global stage.

In conclusion, Bulgaria's digital renaissance is gaining recognition, thanks to strategic initiatives like #BreakingGrounds. The country is set to become a deeptech hub, leveraging its strengths and collaborative spirit to attract global attention and investment. As Bulgaria continues to rise in the tech world, the support from public and private sectors will be crucial in sustaining this growth and achieving long-term success.