Bulgaria Innovation Hub (BIH) - GO TO US MARKET

Company: Bulgaria Innovation Hub

Representative: Pavlina Yanakieva

Position: CEO

How would you explain your business in one sentence to your grandmother?

We help impact driven entrepreneurs and change makers expand their business into the US market.

Where did the idea come from and what problem does it solve?

Bulgaria Innovation Hub (BIH) closes the knowledge and network gap between the US and Bulgaria/SEE/CEE entrepreneurial communities. We wanted to leverage our extensive expertise, market knowledge and expansive global network to assist high potential technology startups gain access to the single largest market in the world, the US and become global leaders.

How did you form a team? How do you know each other, why did you decide to work together?

Bogomil, Vassil and I met seven years ago through our collective work at a partner organization, Teach for Bulgaria (TFB). As donors, mentors and advisory board members we collaborated a few times to fundraise and increase diaspora support for their mission in the US and beyond. This was the precursor for our next big idea, Bulgaria Innovation Hub.

Was there a moment that almost turned you down?

 Fundraising during the pandemic was a big challenge at first as there was a lot of uncertainty about the market and donors were more conservative. While few commitments failed other resources came around such as government programs aiming to assist NGOs during the crisis. It was at that period when we started our discussions with our largest donor, ABF, so the conclusion is that there is an opportunity in every situation.

The biggest mistake so far?

There are many opportunities for improvement, can't pinpoint a single one that's been overly dramatic.

The most valuable advice you would give to those after you?

 Surround yourself with likeminded, impact driven individuals who are equally passionate about the problem you're trying to solve. Be open to learn every day and never forget where you came from, and how far you've come.

How do you resemble the Bulgarians and how do you differ from them?

As a native Bulgarian I hold the same values and cultural characteristics as most: empathy, friendliness, willingness to help others, etc. , however living 30 yrs in the US has taught me to be more confident, positive and assertive when communicating something of value to others. Being shy isn't a virtue in the US and is perceived as a shortcoming, or vice.

Why is Bulgaria a good (or bad) place to start a business?

Beautiful nature, resources, abundance of technical talent with ambition to learn and grow, access to capital and innovation.

If you have a magic wand, which partner or investor would you like to bring to the team?

It would be great if we can inspire the rest of the BG and regional VCs to invest in our mission to elevate the Bulgarian and SEE/CEE startup ecosystem to global leadership.

What are your goals? Where do you want to go from here on out? 

Scale the effort beyond Silicon Valley, and eventually open a charter in Boston, New York, London, etc.

Additional information

Looking forward to collaborating much more closely with your members and your team.