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Key people at Power of BG.
Power of BG was founded in 2020 by Boris Hristov (Co-Founder).
Power of BG cultivates a global community for Bulgarian entrepreneurs and innovators. The organization creates a trusted environment for its members, fostering meaningful relationships and shaping Bulgaria’s entrepreneurial culture. It builds an ecosystem that equips Bulgarian entrepreneurs with resources, support, and access necessary to develop globally relevant ventures, aiming to enhance the country's innovation capabilities and reach.
The non-profit organization was founded in 2013 by Todor Gigilev, who serves as Co-Chairman, and Nikola Likov, the Chairman of the Board. Their insight stemmed from recognizing the need to formalize a network of leading Bulgarian entrepreneurs. This formalization aimed to strategically leverage their collective experience and influence to benefit the broader Bulgarian innovation ecosystem, transitioning from informal gatherings to a structured support system.
Power of BG serves Bulgarian entrepreneurs, innovators, and the diaspora, along with investors and other ecosystem builders. The organization works to amplify entrepreneurship within Bulgaria and facilitate global expansion through initiatives like international hubs. Its long-term vision is to position Bulgaria on the global map as an innovation hub, driving its transformation into an innovation-driven economy and making it globally visible as a tech powerhouse.
Key people at Power of BG.
Power of BG was founded in 2020 by Boris Hristov (Co-Founder).
# Power of BG: High-Level Overview
Power of BG is not an investment firm but rather a community organization and entrepreneurial ecosystem builder focused on Bulgarian innovation. Founded as an informal gathering of entrepreneurs, Power of BG has evolved into a structured organization dedicated to fostering Bulgaria's startup culture and positioning the country as a regional innovation hub[2][7].
The organization's mission centers on two primary objectives: promoting entrepreneurship within Bulgaria—particularly among younger generations—by spotlighting successful entrepreneurs and creating jobs, and addressing the scalability challenge by building trust-based networks that enable Bulgarian ventures to compete globally[2]. Rather than deploying capital directly, Power of BG functions as a connector and knowledge-exchange platform, providing resources, support, and access for entrepreneurs to build globally relevant businesses[2].
# Origin Story
Power of BG emerged organically from informal gatherings of Bulgarian entrepreneurs and has since professionalized into a structured ecosystem organization[2][7]. The organization is led by Nikola Likov (Chairman of the Board) and Todor Gigilev (Co-Chairman & Founder)[2]. While the search results do not provide a specific founding date, the organization has grown substantially in recent years, achieving notable milestones including backing Bulgaria's first unicorn and facilitating multiple successful exits[2].
The genesis reflects a broader recognition that Bulgaria's entrepreneurial talent needed institutional support and international connectivity to scale effectively. This realization drove the organization's expansion strategy beyond domestic borders.
# Core Differentiators
# Role in the Broader Tech Landscape
Power of BG addresses a critical gap in Central and Eastern Europe's innovation infrastructure: the disconnect between local entrepreneurial talent and global capital and market access. Bulgaria possesses technical talent and innovative ideas but historically lacked the institutional bridges to scale ventures internationally[2].
The organization is riding the broader trend of regional innovation hub development, where countries outside traditional tech centers (Silicon Valley, London, Berlin) are building competitive advantages through specialized ecosystems. Power of BG's emphasis on positioning Bulgaria as "a crossroad of innovation in CEE" reflects this strategic positioning[2]. By fostering connections between the Bulgarian diaspora, international investors, and local entrepreneurs, the organization creates network effects that benefit all participants.
# Quick Take & Future Outlook
Power of BG's success will ultimately depend on its ability to execute on three fronts: effectively engaging the Bulgarian diaspora as mentors and investors, attracting international capital to Bulgarian ventures, and maintaining momentum as it scales internationally[2]. The organization's expansion into UK, USA, and Middle Eastern markets suggests confidence in this model, though the search results note that "real results of this labor" remain to be seen[2].
As Bulgaria seeks to diversify its economy beyond traditional sectors, Power of BG's role as a connective tissue between local talent and global opportunity becomes increasingly valuable. The organization's future influence will likely depend on whether it can consistently produce successful exits and unicorns that validate its ecosystem-building approach—ultimately proving that institutional support and international networks can unlock innovation potential in emerging tech regions.
