Bulgaria lags behind the EU in number of high-growth scaleup companies

Bulgaria remains among the European Union countries with the fewest high-growth innovative companies, despite the widely recognised role such businesses play in driving economic growth, innovation and job creation. According to data from the European Scaleup Institute and the European Commission, Bulgaria ranks among the lowest in the EU in terms of the number of so-called scaleup companies relative to its population.

Scaleups are companies up to 10 years old that have moved beyond the startup phase, established a sustainable business model, and entered a period of rapid and sustained revenue growth. They are increasingly regarded as the backbone of Europe's emerging innovation-driven economy.

Ireland tops the EU ranking on this indicator, while Romania, Bulgaria and Latvia occupy the bottom positions, according to BGNES.

Edited by Diana Tsankova