Future Unicorns Accelerator, born from the success of Bulgaria Innovation Hub, announces the official launch of its expanded program targeting high-potential startups from across Central and Eastern Europe (CEE), that are looking to expand to the US.
The accelerator led by Pavlina Yanakieva boasts a roster of mentors from Silicon Valley’s elite, including partners from Sequoia Capital, Greylock, USVC and 300+ other successful founders and investors, who believe CEE has the potential to become a major source of future tech unicorns.
Strong network of mentors
At the core of the Future Unicorns Accelerator is a strong network of mentors, many of whom are accomplished figures from Central and Eastern Europe’s tech diaspora. This group is dedicated to supporting high-potential startups on their journey to success.
Among them is Bogomil Balkansky, a Partner at Sequoia Capital, who has over 25 years of experience in Silicon Valley. Balkansky is known for his role in growing VMware’s product line revenue significantly and for his previous position as vice president at Google. He co-founded the Bulgaria Innovation Hub in 2019, fostering connections between Bulgaria and Silicon Valley.
Galina Antova, co-founder of Claroty, is another vital mentor. She co-founded Claroty, which has raised $740 million and serves numerous Fortune 1000 companies. Her experience as Global Head of Industrial Security Services at Siemens adds valuable insights to the accelerator.
Sim Simeonov, a serial entrepreneur and investor, has successfully exited six out of seven companies he has launched. His experience spans early-stage startups and unicorn companies, offering essential guidance for scaling.
Rika Nakazawa, Group Vice President at NTT, is an accomplished tech leader and VC investor, specializing in emerging technologies. Her extensive background in strategy and business development with Fortune 500 companies enhances the program’s depth.
Jerry Chen, a General Partner at Greylock, focuses on supporting founders across various sectors, including AI and cloud infrastructure. He provides critical advice on product-market fit and go-to-market strategies.
Mike Donohue, Senior Vice President of Global Sales at Gupshup, brings over a decade of experience in marketing technology and fintech. He leads a global sales team, focusing on driving revenue and customer satisfaction.
Tytus Cytowski, a technology lawyer, offers legal insights that help CEE founders avoid common pitfalls as they work toward unicorn status.
George Roth, a seasoned entrepreneur and former UiPath member, has over 20 years of experience in guiding startups toward global success. His insights are instrumental in navigating the tech landscape.
The program also includes a diverse array of mentors such as Dafina Toncheva from U.S. Venture Partners and Anton Lenke from Hewlett Packard Enterprise, among others.
Addressing critical challenges
The Future Unicorns Accelerator is focused on tackling key challenges faced by CEE startups. One significant issue is limited global ambition. Galina Antova observes that “Balkan founders are relatively scared to dream big compared to US founders.” The program encourages bolder thinking among its participants.
Another challenge is the lack of go-to-market expertise. While CEE is strong in technical innovation, there can be gaps in product innovation and marketing strategies. George Roth highlights, “There are two types of innovation: technology innovation, which CEE excels at, and product design innovation, where there’s a gap.”
The accelerator also seeks to improve access to global networks. Its Silicon Valley immersion offers unique opportunities for CEE founders to connect with US customers, investors, and partners. Roth notes that these trips are essential for learning to network effectively.
Investor readiness is another focus area. Sim Simeonov emphasizes the need to understand investor perspectives: “Smart startups use this knowledge to raise more money earlier and at higher valuations.” He encourages founders to aim for “minimum viable excellence (MVE)” to stand out in a competitive landscape.
Transforming mindsets and businesses
Across 9 cohorts under the Bulgaria Innovation Hub brand, the program has already helped 61 companies scale to the US market and collectively raised more than $150 million. Portfolio founders attest to its transformative impact:
Stefan Ivanov, co-founder and CRO of Ampeco, shares: “The biggest benefit from the program was to teach us how to think more ambitiously and gave us the confidence to see that it’s possible.”
Boyan Ivanov, co-founder and CEO at StorPool, adds: “Some of the mentors were very provocative and they challenged our own assumptions. This had a tremendous impact on the way we started to think about ourselves and the company.”
Miroslav Miroslavov, co-founder and CEO of OfficeRnD, notes: “When we started OfficeRnD, we had leading software development teams but we didn’t have a lot of business acumen. By participating in such a program, we gained valuable experience in developing business and working with more experienced people.”
Casius Morea, Founder and CEO of EmailTree.ai, strongly recommends following the program “as early as possible in your startup’s journey. With valuable learnings, insights, and things to do or not to do in your journey.”
As Balkansky puts it, “Honestly, VC companies are just looking for compelling investment opportunities. And the majority of investors are pretty indiscriminate when it comes to where these opportunities come from.”
The accelerator is now accepting applications from CEE-based startups ready to scale their operations to the US market. Interested founders can apply by February 14, 2025 at https://www.futureunicorns.io/
