Bulgarian IT industry retains growth potential, reforms in education remain in focus

Sofia, 17 January 2018:

The growth potential of Bulgaria’s IT industry is still here even though the domestic market is already saturated. In order to remain competitive in the long run, Bulgaria would need to put efforts in the transformation of its education system, both at the university and high school levels.

The state must work out a strategy which will help bridge the gap between business and education institutions by integrating the latest information technologies in the curriculums, Stefan Bumov, Chief Operations Officer, HeleCloud said in an interview for Bloomberg TV Bulgaria.

The digital age requires a transformation of the education system. Its tailoring to the needs of the market has three main aspects: facilitating the access of business professionals and practitioners to education programmes as tutors in certain disciplines; government investment in improving the expertise and skills of teachers and professors; and the development of new curriculums reflecting the latest trends in the IT sector.

„Opportunities exist for partnering with big technology companies such as Amazon Web Services, Microsoft and Google. They have training programmes targeting universities that facilitate the entry and use of their technologies in the curriculums,” Bumov said.

“For example, if Bulgarian professors take up the opportunities provided by Amazon Web Services Educate, they will not only have the chance to benefit from training but enter academic and scientific communities where they will be able to share practical experience with their colleagues around the world.”

Attracting new bigger players to the outsourcing sector is becoming increasingly difficult because the market has reached a certain level of maturity and the building of big teams in a short period of time is not an easy task to fulfil amidst the limited availability of human resources. The Bulgarian environment, however, is favourable for the IT sector, as there are enough qualified specialists, who are interested in the opportunities for career development and taking up ever more challenging and complex tasks.

The recent trend of attracting highly qualified specialists from abroad and the wave of returning expatriate Bulgarian experts can be complemented by the opening of the country’s labour market would be a great advantage for the future development of the industry. Attracting experts from non-EU countries, however, is hampered by the administrative rules that are not yet adapted to market needs.

“From a geopolitical and cultural point of view, we could attract specialists from Ukraine and Moldova,“ Stefan Bumov noted.

„Bulgarian IT specialists are world-class. They learn very quickly, they adapt to innovations very easily and are very good at building trust with customers. Even though HeleCloud is a company with a one-year track record, we already have our first official recommendations from clients who are coming forward with their names and are ready to tell the world why they chose to work with HeleCloud,” the COO added.

The rapidly changing business environment is the reason why new and modern companies do not draft detailed long-term strategies with a five- or ten-year horizon. To stay on top of the changes, businesses would rather target and pursue major goals, leaving room for quick modifications of business plans. HeleCloud is a company built on Amazon Web Services technologies with an individual approach to each client. The company has drafted a strategy based on tangible goals and an agile business model adaptable to market dynamics.

The full interview is available here.

About HeleCloud

HeleCloud™ is an Amazon Web Services technology consultancy with offices in Maidenhead, UK, and Sofia, Bulgaria that helps enterprises of all sizes establish Cloud vision, and execute Cloud strategies through their industry-leading Cloud Roadmap methodology. HeleCloud™ also provides Cloud managed services to further amplify Cloud benefits and enable enterprises to focus on their core business and customers.