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The startup scene across Bulgaria
Where startups are forming across Bulgaria: the cities, accelerators and investors, and how you get close to them.
The ecosystem
The European Commission’s 2025 European Innovation Scoreboard classified Bulgaria as an Emerging Innovator, with a Summary Innovation Index of 45.8% of the EU average and a rank of 26 among EU Member States. Its score was 6.3 points above 2018 and 2.2 points below 2024.
Bulgaria has been an EU Member State since 1 January 2007 and joined the euro area on 1 January 2026; Sofia is its capital.
Sectors and strengths
The 2025 Scoreboard identifies design applications, trademark applications, and high-speed internet access as relative strengths. Their respective indexed scores were 157.1%, 127.6%, and 116.6% of the EU average.
As of . Official information. Source: European Innovation Scoreboard 2025: Country profile Bulgaria
The same Scoreboard identifies business R&D support, labor productivity, and lifelong-learning participation as relative weaknesses; their reported indicators were 2.2%, 9.7%, and 10.0% of the EU average, respectively.
As of . Official information. Source: European Innovation Scoreboard 2025: Country profile Bulgaria
For founders
For positioning, the Commission’s indicators identify relative strengths in design applications, trademarks, and high-speed internet access, alongside weaknesses in business R&D support and lifelong learning.
As of . Official information. Source: European Innovation Scoreboard 2025: Country profile Bulgaria
For investors
The 2025 EIS places Bulgaria at 45.8% of the EU average overall, with a 157.1% score for design applications and a 35.4% score for venture-capital expenditures.
As of . Official information. Source: European Innovation Scoreboard 2025: Country profile Bulgaria
Constraints and recent changes
The 2025 EIS venture-capital-expenditures indicator was 35.4% of the EU average, ranking 19th among EU Member States.
As of . Official information. Source: European Innovation Scoreboard 2025: Country profile Bulgaria
Startup ecosystem standing
Where Bulgaria ranks
| Ranking | Edition | Position | Since last edition | Trust | What it measures |
|---|---|---|---|---|---|
 Global Innovation Index | 2025 | #37 | Up 1 | A | Innovation, Competitiveness, Research, Talent |
 Bloomberg Innovation Index | 2019 | #41 | Up 1 | B | Innovation, Research |
 Global Startup Ecosystem Index (countries) | 2025 | #41 | No prior edition | B | Ecosystem, Activity, Finance, Business Climate |
 IMD World Competitiveness Ranking | 2026 | #56 | Up 2 | B | Competitiveness, Business Climate, Performance |
 Doing Business (Ease of Doing Business ranking) | Doing Business 2020 | #61 | Down 2 | B | Business Climate |
66 organizations with a profile
Who's based in Bulgaria
Investors 42
Investor
InvestorEmpowering Bulgarian SMEs and innovative projects.
InvestorInvesting in early-stage technology for a sustainable future.
The 3 most prominent of 42. Browse all investors
Accelerators 13
AcceleratorReview Block Labs's documented accelerator identity, programs, and sources.
AcceleratorSupporting research-based startups in the Balkans.
AcceleratorEmpowering innovators to transform ideas into reality.
The 3 most prominent of 13. Browse all accelerators
Incubators 6
IncubatorSupporting innovative startups in Bulgaria.
IncubatorConnecting innovation and talent for business growth.
IncubatorTransforming traditional industries through technology.
The 3 most prominent of 6. Browse all incubators
Venture studios 5
Venture studioBuilding the future of Web3 technology.
Venture studioBuilding and growing startups in gaming and entertainment.
Venture studioBuilding community-oriented startups for global impact.
The 3 most prominent of 5. Browse all venture studios
Pick what describes you
Your way in
Raising in Bulgaria
Investors based here, and the programs that take teams at your stage.
Get investor introsFinding startups in Bulgaria
Accelerators and incubators here see the earliest teams first.
Get startups that fitScouting in Bulgaria
Campuses and communities are where teams form before anyone funds them.
Start scoutingCity guides
Cities in Bulgaria
Questions about Bulgaria
How does Bulgaria rank as a startup ecosystem?
Its best position is #37 in GII (2025). It appears in 5 published rankings; the table above lists each one.
How many startup investors are based in Bulgaria?
42 investors based in Bulgaria have a profile here, including Eleven Ventures, Fund of Funds in Bulgaria (FMFIB) and Ocean Investments. The real number is higher.
Are there accelerators or incubators in Bulgaria?
Yes. Bulgaria has 13 accelerators, 6 incubators and 5 venture studios on record, including Block Labs, BIC Innobridge and 4 Point O Labs.
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