Management Shuffle at Sofia Tech Park Ahead of Its Largest Technology Projects

Sofia Tech Park is changing its management just as it is set to take on some of the most significant and largest technology projects in its history. The state-owned company is reducing its Supervisory Board to three members, comprising individuals with backgrounds in the technology, finance and AI sectors – ahead of the construction of the BRAIN++ artificial intelligence factory and the expansion of the park’s role as a national center for technology transfer.

Ivan Vasilev, Minister of Innovation and Digital Transformation, has appointed Ivan Mihaylov, Anton Kitipov and Teodor Panayotov as members of the Supervisory Board. Mihaylov retains the chairmanship while Kitipov and Panayotov are the new members of the governing body.

The ministry has presented this change as the launch of “Sofia Tech Park 2.0” – a commitment to more streamlined management and a more open infrastructure for the business and scientific communities. The real test however will be whether the company succeeds in transforming its growing portfolio of state and European technology projects into a truly functional ecosystem for companies and researchers.

The Big Test Is BRAIN++

This change comes ahead of a period in which Sofia Tech Park’s role is expected to grow significantly. Among the key projects is the BRAIN++ AI factory, which Bulgaria will develop jointly with INSAIT. It is intended to provide high-performance computing infrastructure and resources for the development and implementation of artificial intelligence solutions.

The company’s portfolio also includes the Center for Defense Innovation, the Center of Excellence in Kazanlak as well as the park’s ambition to serve as a national hub for technology transfer.

It is precisely these projects that the ministry has cited as the reason for the change in the supervisory profile. The goal is to ensure that management has greater expertise in the fields of artificial intelligence, technology financing and commercialization, as well as to introduce common metrics for evaluating the performance of the various entities.

One of the more significant questions will be to what extent companies and scientific organizations will actually use the technology park’s infrastructure jointly – one of the core ideas from the very inception of the project.

Who Will Join the New Supervisory Board

Ivan Mihaylov remains chairman of the Supervisory Board. He has experience in information technology, telecommunications and the automotive industry and has led engineering and technology centers at companies in the IT sector. Since 2022 he has served as CEO of the American Chamber of Commerce in Bulgaria (AmCham).

Mihaylov holds a degree in computer science from the Technical University of Sofia, a degree in economics from Sofia University “St. Kliment Ohridski” and an MBA with a focus on technology commercialization from the McCombs School of Business at the University of Texas at Austin.

Anton Kitipov comes from the banking and financial sector and has over 20 yr of experience in foreign exchange trading, digital financial solutions and electronic distribution. He has worked on regional digital FX platforms for corporate clients and financial institutions as well as on fintech partnerships, payment infrastructure and digital assets. He holds a law degree from Sofia University.

Teodor Panayotov specializes in artificial intelligence and technology platforms. He has worked on the development of local, hybrid and so-called “sovereign” RIA platforms for knowledge management and has held leadership positions at technology companies. He holds degrees in “Network Technologies” and “Human Resources Development,” and his biography also notes that he completed training at Singularity University at the NASA Ames Research Center.

A Change Is Also Coming to the Board of Directors

The reshuffle in the supervisory board will not be the last change in the state-owned company’s leadership. Once the Commercial Register registers the three members procedures must begin to determine the composition of the Sofia Tech Park Board of Directors.

Thus the new management structure will take shape precisely at a time when the park must transition from management based on physical and scientific infrastructure to playing a significantly greater role in the national ecosystem for artificial intelligence and technology transfer.

Whether the proposed “Sofia Tech Park 2.0” concept will lead to a measurably more active use of the infrastructure by the business and scientific communities will depend not only on the new composition of the supervisory board but also on the rules for access, the management approach and the concrete results of the projects yet to be implemented.

Translated with DeepL.