A recent in-depth article in CIO Bulgaria magazine, named "The Rise of Bulgarian Software Industry", elaborates on local IT companies, how they handled the unexpectedly turbulent 2020 and what the next 5 years hold for them.
The successful development and enviable adaptability is undeniable — data shows that last year local software industry saw a 12% overall rise, with a 10% income increase and more than 3,500 new specialists hired. BASSCOM Board of Directors member Krum Hadjigeorgiev predicts that this steady growth will continue in next 5 years and the IT companies will create additional 23,000 new jobs, attract more Western European investors and see the opening of strategic R&D centers in the country.
BASSCOM advisory board member and Nemetschek Bulgaria founder and general manager George Brashnarov is quick to add that the reason for this positive prognosis is the steady growth of the local software industry during the years:
"We put Bulgaria on the world software map long ago. Companies like mine already entered the third decade of their existence. This means more than 20 years of successful partnerships with leading world companies and a number of important software products almost entirely developed by Bulgarian teams."
"But most importantly, we managed to outgrow the perception of Bulgaria as a strictly outsourcing destination. The big Bulgarian IT companies are competent and trusted partners and innovators, certainly not organizations offering cheap labour. Today it's undeniable that the Bulgarian software services are of the utmost quality, so we need to continue developing and improving all of our software products. Professional product development has to enter its next stage, startups have to be encouraged, so that they could evolve from somewhat chaotic enthusiasm to professional workflow."
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