Vasil Terziev

Vasil Terziev (born June 9, 1978) is a Bulgarian entrepreneur, investor and philanthropist. He is known as the co-founder and CEO of Telerik, a global provider of software development and content management tools and solutions. In 2014, Telerik was sold for $262.5 million, which at the time was the largest deal in the history of the Bulgarian startup ecosystem. Terziev has a key role in the development of the technological and innovative ecosystem in Bulgaria through its numerous initiatives and investments. In addition, it supports the attraction of investments in many businesses in Bulgaria. On November 6, 2023, Terziev won the mayoral elections in the city of Sofia and was elected the 65th mayor of the capital of Bulgaria.

Early years and education

Vasil Terziev was born on June 9, 1978. He studied at the First English Language High School in Sofia from 1992 to 1996. Then he was a student at the American University in Bulgaria (AUB) in Blagoevgrad from 1996 to 2001, graduating with honors majoring in Business Administration.

Career

After his first year at AUBG, Vasil Terziev participated in the “Work and Travel” program in the USA. After returning to Bulgaria, he started his first business – an Internet telephone operator. The venture was not a financial success, but it was a turning point for Terziev, who chose a career in technology instead of the financial sector.

After a series of short stints at various jobs, joined SwiftPro, a UK-based company, where he took on the role of “Project Manager”. In SwiftPro, Vasil Terziev worked together with his friends from AUB Boyko Yaramov and Svetozar Georgiev, as well as with Hristo Kosev, who later became his partners in Telerik.

Impact in the ecosystem

Vasil Terziev believes that education and entrepreneurship are the main drivers of prosperity. He is a co-founder, investor, and mentor of numerous companies and initiatives aimed at strengthening the innovative ecosystem in Bulgaria.

Telerik Academy

In 2009, Terziev was the key driver behind the founding of Telerik Academy, Telerik’s internal training project to address the shortage of skilled software professionals. The Academy provides an intensive and free 12-month training course for people looking for a career in software development, QA or technical support. Since its inception, the Academy has helped more than 10,000 people start working in the IT sector.

The Telerik Academy serves as a model and inspiration for many other organizations in the field of technology training in Bulgaria, which are essential for the growth of the Bulgarian IT sector.

In 2017, Telerik Academy was separated as a separate commercial company.

Campus X

In April 2018, Terziev and the co-founders of Telerik – Svetozar Georgiev and Boyko Yaramov, created Campus X, one of the largest technology incubators in Southeastern Europe. Dubbed the “Unicorn Factory”, CampusX has witnessed the creation and development of a number of companies such as Payhawk, Quantive and Dronamics. As of 2023, Campus X provides shared office space and services to over 1,350 professionals from more than 70 startups and growth companies, including OfficeRnD, Telerik Academy, Melissa Climate, NitroPack, FITE and many more.

Bulgaria Innovation Hub

In 2018, Terziev became a co-founder of the Bulgaria Innovation Hub, the goal of which is to build connections between the entrepreneurial ecosystems in Bulgaria and Southeastern Europe and Silicon Valley. The center provides an entrepreneurship education program and connects the community with high-impact entrepreneurs. This program includes about 30 modules led by experts from Silicon Valley and partners in venture capital funds such as Sequoia Capital and Sigma Ventures. Since its inception, Bulgaria Innovation Hub has supported over 45 companies that have attracted $124 million in capital, as well as created over 650 new jobs in Bulgaria.

Endeavor Bulgaria

Vasil Terziev is a co-founder and board member of Endeavor Bulgaria, part of the global organization for high-impact entrepreneurship. Since its launch in 2015, Endeavor Bulgaria has supported over 100 Bulgarian entrepreneurs who lead more than 50 fast-growing technology companies. These entrepreneurs have created more than 2,300 jobs and generated more than $182 million in revenue in 2021. The organization also launched Dare2Scale, a program aimed at supporting companies in earlier stages of their development.

Terziev is the chairman of Endeavor Bulgaria in 2019 and 2020. During his tenure, he made great strides to improve the management of the organization and start the process of closer integration with other Endeavor offices in the Balkans.

Significant investment and mentorship

Vasil Terziev started investing in Bulgarian startups and venture capital funds, seeing the lack of funding and knowledge of how companies are built. Between 2012 and 2017, he was the most active angel investor