Denys Strobykin will be one of the INnovators at the Economic.bg business forum – ALL IN – taking place on September 19. During the first stage panel, he will expand on the topic of the transformation of the traditional industries and the innovations that aid this process along the way.

Denys Strobykin has been the general manager of Philip Morris Bulgaria since August 2024. He has nearly 20 years of experience at Philip Morris International. He started his career in the financial department of the company in Ukraine, and in the following years held various positions related to sales and marketing in Moldova, Poland and Romania.

Mr. Strobykin, imagine that Elon Musk has achieved a big breakthrough in space travel and you are able to go on a year-long trip to Mars. Which three celebrities (living or dead) would you like to accompany you?

Stephen Hawking, Stanislav Lem and Yuval Noah Harari.

You are entitled to spend one working day with a company executive (living or dead). Who would you choose and why?

Tony Hsieh. I would be curious to learn more about his experience with self-managing teams at Zappos.

Imagine you are shipwrecked on a lonely island with all your basic human needs (food, water, shelter) met. What two other things would you like to have with you and why?

• A solar-powered satellite phone for communicating with the outside world and organizing my rescue.
• A good book to pass the time while waiting to be rescued.

If you could give just one book as a gift for the rest of your life, which one would it be?

Solaris by Stanislav Lem.

You are a time traveler. You have the option to move forward into the future or go back into the past. Where would you go and why?

I would go to the beginning of the universe. To see how it all started.

AI is a hot topic these days, but what is the most neglected issue that is important to discuss about it?

Probably ethical considerations and biases.

What work task would you never want to outsource to a robot?

People management.

Which is more important: talent or hard work?

Hard work.

Which is more important: education or experience?

Education. Experience easily becomes irrelevant in the dynamic and fast-paced world that we live in these days.

What are the three things without which success is impossible?

Hard work, consistency, luck.

What fascinates you nowadays?

The way technology is transforming our lives.

What’s the best advice you’ve ever received?

It isn’t really advice. It’s a Henry Ford quote that I really like and try to follow – “A vision without execution is just a hallucination.” It is not enough to have an idea, an ambitious goal or a good strategy. What matters is how you execute things.

When was the last time you said to yourself: “This was my best day at work”? What was the occasion?

Throughout 2024 at Philip Morris International there has been one occasion – we celebrate the beginning of our transformation, that is, 10 years since our main smokeless alternative IQOS made its global debut on the Japanese market. This is an opportunity for us to reflect on how much we have achieved in the last decade in terms of helping millions of adult smokers around the world, who would otherwise have continued to smoke, to leave cigarettes behind and switch to potentially less harmful smokeless alternatives.

What is your biggest passion – something you are  ALL IN?

My family.

Konstantin Djelebov will be one of the INnovators at the Economic.bg business forum – ALL IN – taking place on September 19. He has over 13 years of fintech experience and is the co-founder and CEO of phyre.

Konstantin Djelebov has received recognition for his innovations with phyre, including App of the Year 2020 and CESA’s Best Bulgarian Fintech Startup for 2019 and 2020.

At ALL IN, he will moderate the event’s second panel ‘INvestments in INnovations: The New Wave’.

Mr. Dzhelebov, imagine that Elon Musk has achieved a big breakthrough in space travel, and you are going on a year-long trip to Mars. Which three celebrities (living or dead) would you like to accompany you?

It may sound clichéd, but I’d go with Musk himself, Steve Jobs and Salvador Dali.

You are entitled to spend one working day with a company executive (living or dead). Who would you choose and why?

Steve Jobs, because I would like to know how you can create products that change the course of human history – and do it several times in a row at that!

Imagine you are shipwrecked on a lonely island with all your basic human needs (food, water, shelter) met. What two things would you like to have with you and why?

A computer and internet connection – I will have all the time in the world and full focus to create amazing things.

If you could give away just one book as a gift for the rest of your life, which one would it be?

“Moral Letters to Lucilius” (by Lucius Annaeus Seneca).

You are a time traveler. You have the option to move forward into the future or go back into the past. Where would you go and why?

Certainly, I would visit the future. I’ve always tried to anticipate it and strategize around it.

You have a chance to get a superpower (any skill you can think of), but only for a day. Which one would you choose and why?

Being able to travel through time so I can uncover what the future holds.

Can you identify the biggest threat or challenge for your company in the next five years?

If the State tightens regulations so much, under the pretext of the “common good of consumer rights”, that they make innovation almost impossible and the status quo gets cemented.

In which area Bulgaria has the greatest potential to become a leader in Europe?

I think we have extremely successful fintech companies and we can be one of the driving forces in Europe.

AI is a hot topic, but what is the most neglected issue about it that is important to discuss?

In Europe, innovation has been slowing down tremendously and, if we don’t change that, we will very quickly lose the race for the 21st century. For example, many of the AI ​​features of the new iPhone model will not be available in Europe due to the same reasons that cause an obstacle to innovation.

What work task of yours would you never want to outsource to a robot?

Goal setting and team development.

Which is more important: talent or hard work?

Hard work!

Which is more important: education or experience?

Experience.

What are the three things without which success is impossible?

Hard work, luck and resilience.

What fascinates you nowadays?

The acceleration of productivity growth.

What’s the best advice you’ve ever received?

Not to fall in love with my ideas.

What is the hardest lesson you’ve learned?

That I have to trust my own judgment rather than trust in people who are more experienced than me.

What’s the biggest challenge you’ve overcome?

Going from a state of de facto bankruptcy to changing strategy, attracting investment and turning a profit while starting a new company.

When was the last time you said to yourself: “This was my best day at work”? What was the occasion?

22 December 2018 – the day I kept my promise to investors that they would buy their Christmas presents with their phones.

What is your biggest passion – something you are ALL IN?

Creating products that customers love (and that work for the business).

Nikolay Andreev will be one of the INnovators at the Economic.bg business forum – ALL IN  – taking place on September 19. He will take part in the event’s second panel ‘INvestments in INnovations: The New Wave’. Nikolay Andreev has been the CEO of Vivacom since December 2021. Before that, he was the head of Nova Broadcasting Group.

Prior to joining the media group, he was CFO at Devin. Andreev has held various professional financial positions at the international corporation Unilever in Bulgaria and Central and South-Eastern Europe.

Mr. Andreev, imagine that Elon Musk has achieved a big breakthrough for humankind, and you are going on a year-long trip to Mars. Which three celebrities (living or dead) would you like to accompany you?

First of all, Elon Musk himself. After all, if he sends us to Mars, he’ll know how to get us back. The other one would be Isaac Asimov – he dreams of the stars and the development of humanity, so he can take us beyond Mars. The third would be Sun Tzu because we might have to strategize if we meet aliens.

You are entitled to spend one working day with a company executive (living or dead). Who would you choose and why?

It would definitely be Steve Jobs or Richard Branson. Both are visionaries who changed the world – Jobs elevated innovation, marketing and teamwork to almost a religion. And Branson is an example of an extremely successful entrepreneur, managing over 400 companies. There is definitely something to learn from both.

Imagine you are shipwrecked on a lonely island with all your basic human needs (food, water, shelter) met. What two things would you like to have with you and why?

Definitely a satellite phone so I can call and be picked up anytime. Second, an e-book to read in peace before I go home since I’ve been short on time lately.

If you could give just one book as a gift for the rest of your life, which one would it be?

Maybe A. A. Milne’s Winnie the Pooh. It is a treasure of wisdom that can be read by young children, by grown children, by adults…well, by everyone. My favorite quote from it is: “When you don’t know where you want to go, you always go somewhere else.” Plus, everyone should learn that “every thing costs some other thing.” Whether it’s time, effort, sacrifice, money or whatever. A wonderful book for any age. But it would be a shame only to be able to give away one book. After all, Winnie the Pooh did say: “The more the better”.

You are a time traveler. You have the option of moving forward into the future or going back into the past. Where would you like to go and why?

I want to go 100 years into the future. And then 200 years into the future. And then 1000 years into the future. It would be interesting to see how society will have developed, how technology will have developed, how people will communicate with each other, what discoveries there will be, what the future of the telecom sector holds and whether it will still be called that or it will have become simply ‘communication sector’ because it will connect people in a completely new way. It’s wonderful just to think about this and the ideas that we could take and try to implement already today.

You can get a superpower (any skill you can think of), but only for a day. What will you choose and why?

I like Charles Xavier (Professor X) from X-Men, played by Patrick Stewart, and also in his earlier rendition by James McAvoy. He can get in touch and communicate with anyone on planet Earth. Can you imagine how many conflicts could be stopped, how many problems could be solved, and how many people could be reassured if someone could connect with everyone? Communication is a huge power.

Can you identify the biggest threat or challenge for your company in the next five years?

The biggest challenge will be to stay on the crest of the wave in terms of innovation, new products, technological development and attracting great people to our team. And the biggest threat will be to fail in this challenge.

In which area Bulgaria has the greatest potential to become a leader in Europe?

The tech sphere. We have wonderful young people, we have visionaries, we have the infrastructure. All that is needed is more willingness from politicians to actually support the strategic direction in order to achieve sustainable results.

AI gets a lot of attention these days, but what is the most neglected issue about it?

Yes, there is already a lot of talk about AI applications and overall usage. And many models are used in many places in industries. But I don’t think the ethical side of AI is being talked about enough.

What work task of yours would you never want to outsource to a robot?

I will never delegate communication with my team to a robot. The conversations, the discussions, even the heated arguments sometimes, these are priceless moments from which we all take a lot. I can’t imagine this would be done by a robot.

Which is more important: talent or hard work?

I respect the old formula: 10% talent and 90% hard work. No matter how talented a person is, without hard and continuous work there is no way to achieve success. And vice versa – no matter how hard a person works, if there is no spark, if there is no inner inspiration, they will achieve only mediocre results.

Which is more important: education or experience?

Once again, the same formula applies: 10% education and 90% experience. Without the foundation of education, there can be no progress. But on this basis alone, without having any practical experience, not much can be achieved either.

What are the three things without which success is impossible?

A drop of talent, a lot of daily work and a pinch of luck.

What fascinates you nowadays?

The fact that more and more people want to make an effort to live in a developed society. And the more such people there are, the better society can become.

What’s the best advice you’ve ever received?

“There are no new problems, only new opportunities.” Everything important is concentrated in this bit – not giving up, no despair, no stopping, the desire to achieve more and to gather like-minded people – everything that’s necessary for success.

What is the hardest lesson you’ve learned?

To not want everything here, now and immediately. The universe has its own rhythm, and one must learn to listen to it and comply with it. No matter how much you want something done right away, it has its own kind of “production time”. Even some ideas need time to mature in people’s heads and be perceived in the right way. Once you understand that, your success grows exponentially.

What’s the biggest challenge you’ve overcome?

Taking over a huge telecom company with the reputation of an outdated telephone exchange and in just a few years turning, together with my team, it into a modern company that sets the trends in the market.

When was the last time you said to yourself: “This was my best day at work”? What was the occasion?

I tell myself that every day. It’s a great feeling for me to work with my team, to grow the company daily and to make our customers happier.

What is your biggest passion – something you are ALL IN?

Skiing.

Konstantin Dzhengozov will be one of the INnovators at the Economic.bg business forum – ALL IN – taking place on September 19. He will take part in the event’s second panel titled ‘INvestments in INnovations: The New Wave’.

He is the co-founder and chief financial officer of the first Bulgarian unicorn company Payhawk. It is also one of the fastest-growing fintech companies, having attracted notable investors such as Greenoaks, QED, Earlybird and Lightspeed.

Konstantin Dzhengozov’s experience began in management consulting before joining software company Telerik, which was acquired for $262.5 million by US-based Progress Software.

As an experienced finance and investment professional, Konstantin has been recognized as CFO of the Year at the annual EY Business Awards. In the summer of 2023, Konstantin completed a leadership course at Harvard Business School.

Mr. Dzhengozov, imagine that Elon Musk has realized his big breakthrough for humankind, and you can go on a year-long trip to Mars. Which three celebrities (living or dead) would you like to go with?

Neil Armstrong – after all, he has experience with extraterrestrial travel. Mahatma Gandhi because it is good to have a calm person on board. And finally, Nikola Tesla, let’s see what he would have to say to Musk about the latter’s car company’s name.

You are entitled to spend one working day with a company executive (living or dead). Who would you choose and why?

I’d choose to spend a day with Jeff Bezos (even though he’s no longer CEO). His experience in growing Amazon into a global giant is extremely inspiring and I would love to learn more about his strategies and approaches to business.

If I had to choose a CEO who is currently in this position, I would choose Microsoft’s Satya Nadella. The transformation he’s been able to make in a titanic company like Microsoft is very inspiring and I think Satya is one of the most successful CEOs out there right now.

Imagine you are shipwrecked on a lonely island with all your basic human needs (food, water, shelter) met. What two things would you like to have with you and why?

The first will be a laptop, the second will be a router with unlimited Internet access. Does this count as cheating?

If you could give just one book as a gift for the rest of your life, which one would it be?

Sapiens: A Brief History of Mankind by Yuval Noah Harari. This book provides a deep insight into human history and helps us understand where we are and where we are going.

You are a time traveler. You have the option of moving forward into the future or going back into the past. Where would you go and why?

I would choose to travel forward into the future, perhaps about 50 years into the future, to see how technology and society have evolved and what new opportunities and challenges have appeared. Enough years for major technological developments to have occurred, yet not too many so they can still be relevant to our time.

You have the chance to get a superpower (any skill you can think of), but only for a day. What power would you pick and why?

I would choose the ability to read minds. This will give me an unlimited amount of information, and as we know, information and data are key.

Can you identify the biggest threat or challenge for your company in the next five years?

Payhawk’s biggest challenge over the next five years will likely be to preserve our business culture as we continue to grow exponentially. I think we have the necessary experience, confidence and people to achieve it.

In which area Bulgaria has the greatest potential to become a leader in Europe?

Bulgaria has enormous potential in the field of information technology and software development. Our talents and innovations can put us in a leading position in Europe.

AI is a hot topic these days, but what is the most neglected issue about it?

In my opinion, it’s the ethical use of AI. How do we ensure that AI is used in a way that is fair? Although it is talked about, there is actually not much action in this direction.

What work task of yours would you never want to outsource to a robot?

I would never want to hand over to a robot the task of making strategic decisions that require human intuition and emotional intelligence.

Which is more important: talent or hard work?

Hard work. Talent can give you an initial boost, but hard work and discipline are the drivers to success.

Which is more important: education or experience?

Both are important, but if I had to choose, I’d say experience. Hands-on experience teaches you things that cannot be taught in the classroom. In theory, things always seem smooth and somewhat easier. In practice, however, there are many difficulties and obstacles that you cannot overcome without having the necessary experience and self-confidence.

What are the three things without which success is impossible?

Vision, tenacity and adaptability.

What fascinates you nowadays?

I am fascinated by the rapid development of technology and the way it is changing our lives and businesses.

What’s the best advice you’ve ever received?

“Never stop learning and growing.”

What is the hardest lesson you’ve learned?

The hardest lesson I’ve learned is that not everything can be controlled and sometimes we have to embrace uncertainty.

What’s the biggest challenge you’ve overcome?

On a personal level – being a parent. My work involves a lot of travel and long days in the office. I try to keep my time at home free of work commitments and pay less attention to the phone and email.

In terms of work – the path we took from being a small startup to becoming the first Bulgarian unicorn and, in general, a successful company in a competitive market.

When was the last time you said to yourself: “This was my best day at work”? What was the occasion?

The last time I said this to myself was when Payhawk became the first Bulgarian unicorn company. It was an amazing moment for me and the whole team.

What is your biggest passion – something you are ALL IN?

Apart from Payhawk, it’s my family.

Konstantin Rangelov will be one of the INspirers at the Economic.bg business forum – ALL IN – taking place on September 19. Together with his brother, Svilen, he is a co-founder of the Bulgarian company Dronamics, which developed the first unmanned cargo drone, “Black Swan”, which is expected to start performing commercial flights very soon.

Konstantin Rangelov leads the R&D department of Dronamics, comprised of over 100 engineers, and is the main driver behind one of the most INspiring and INnovative Bulgarian projects – “Black Swan”.  He also works on sustainability technologies at Dronamics with a specific focus on alternative fuels and hydrogen technology development.

He studied aerospace engineering at Delft University of Technology in the Netherlands.

Mr. Rangelov, imagine that Elon Musk has made distant space travel a reality and you are going on a year-long trip to Mars. Which three celebrities (living or dead) would you like to travel with?

• Richard Feynman – so we can study and explore space together.
• Roald Amundsen – to be our guide and make sure there’s discipline on board.
• J. R. R. Tolkien – to record and tell the story of our journey.

You are entitled to spend one working day with a company executive (living or dead). Who would you choose and why?

Kelly Johnson – because that means I’d have a hand in the development of the F-117, SR-71 Blackbird, and the like.

Imagine you are shipwrecked on a lonely island with all your basic human needs (food, water, shelter) met. What two things would you like to have with you and why?

Towel and sunscreen. Chances are they’ll find me sooner or later; I can at least enjoy my vacation (I’m totally serious).

If you could give just one book as a gift for the rest of your life, which one would it be?

The Odyssey by Homer – just like The Little Prince, it can be read over and over again while staying interesting. It’s quite diverse and adequate regardless of the era in which the reader is living.

You are a time traveler. You have the option of moving forward into the future or going back into the past. Where would you like to go and why?

I would never go forward in time – let it remain a surprise. I wouldn’t go too far back either because I don’t have the immune system for that. So, I pick 17 December 1903, Kitty Hawk Beach, the site of the Wright Brothers’ first flight. I’ll be just watching from the sidelines.

You can get a superpower (any skill you can think of), but only for a day. What will you choose and why?

Being able to rob a bank without being caught because… money?!

Can you identify the biggest threat or challenge to your company in the next five years?

The rapid growth of Dronamics will be our biggest challenge as we are still creating a new market and laying the groundwork for the future not only for us but for others to follow. This is an extremely big responsibility.

In which area Bulgaria has the greatest potential to become a leader in Europe?

The aerospace sector – we have all the prerequisites to attract the best talents and encourage them to develop.

AI is a hot topic, but what is the most neglected issue about it that is important to discuss?

Education. We are still learning and training according to obsolete methods that do not prepare us for the real world nor how to solve its problems.

What work task of yours would you never want to outsource to a robot?

Firing someone – the most unpleasant part of my job is having to fire someone. No matter how emotionally difficult it is for me, I would never give it to a robot because it would be endlessly humiliating and insulting to the person on the other side. If we choose to lose our humanity in our worst moments, we are doomed as a species.

Which is more important: talent or hard work?

Hard work – always!

Which is more important: education or experience?

Experience – but not always.

What are the three things without which success is impossible?

Insomnia, pain, and stress – everyone talks about the good things, but nobody talks about these…

What fascinates you nowadays?

Witnessing a gratuitous act of kindness or seeing a BMW driver use a turn signal – it’s a tough choice…

What’s the best advice you’ve ever received?

Don’t expect anyone to appreciate your work.

What is the hardest lesson you’ve learned?

Same as the above.

What’s the biggest challenge you’ve had to overcome?

Making 1200 kg of carbon and steel fly without a person on board.

When was the last time you said to yourself: “This is my best day at work”? What was the occasion?

17 August 2024. Still classified information though.

What is your biggest passion – something you are ALL IN?

Preserving the child that lives in me – keeping my dreams, games, laughter and admiration for the world.

Jesus Caballero will be one of the INnovators at the Economic.bg business forum – ALL IN – taking place on September 19. He is the CEO of SOF Connect, the operator of Sofia Airport. Before taking over the management of the Bulgaria’s largest air travel hub, Mr. Caballero was the CEO of Seville and Melilla airports, and was also involved in the management of Madrid, Barcelona and Malaga airports.

Jesus Caballero manages investment projects for over 600 million euros that have the goal of improving infrastructure, passenger experience and services, digitalization, renovation of Terminal 2 and construction of Terminal 3.

Mr. Caballero works actively in the field of sustainable development of the aviation industry as a member of the Council of the ACI WORLD FUND and a member of the Board of the European Airports Association ACI EUROPE.

Jesus Caballero is an aeronautical engineer specializing in airports, air navigation systems and air traffic management. He holds an Executive Master’s degree in Business Administration (EMBA) from the Chamber of Business, Commerce and Industry of Malaga and has completed the Executive Development Program at the IESE Business School of the University of Navarre.

Mr. Caballero, imagine that Elon Musk has achieved a big breakthrough in space travel and now you are going on a year-long trip to Mars. Which three celebrities (living or dead) would you like to accompany you?

Mahatma Gandhi, Nelson Mandela, Alexander the Great.

You are entitled to spend one working day with a company executive (dead or alive). Who would you choose and why?

Steve Jobs because he followed his passion and vision. He exercised creativity in hiring and aimed to create a better world.

Imagine you are shipwrecked on a lonely island with all your basic human needs (food, water, shelter) met. What two things would you like to have with you and why?

A boat and a laptop with an internet connection.

If you could only give one book as a present for the rest of your life, which one would it be?

Balthasar Gracian’s The Art of Worldly Wisdom.

Now you are a time traveler. You have the option of moving forward into the future or going back into the past. Where would you like to go and why?

I would travel to the future in order to find out if there was any threat to my family so I could protect them.

You can get a superpower (any skill you can think of), but only for a day. What would you choose and why?

The intelligence to understand what we don’t yet know about the universe.

Can you identify the biggest threat or challenge for your company in the next five years?

Global political and economic instability.

In what area does Bulgaria have the greatest potential to become a European leader?

Sofia has the potential to become the largest HUB (in terms of maintenance, repair and operation of aircraft) and to have the first 5-star regional airport in Europe.

AI is a hot topic these days, but what is the most neglected issue about it?

What will happen to the vast and expanding use of energy, water and other resources? The emerging monopolists will lead to wealth inequality associated with mass unemployment.

What activity of yours would you never want to outsource to a robot?

My passion.

Which is more important: talent or hard work?

Hard work.

Which is more important: education or experience?

Education.

What are the three things without which success is impossible?

Faith, passion and perseverance.

What fascinates you nowadays?

The new space race launched by Space X and nuclear fusion – a new source of clean and unlimited energy that will change everything.

What’s the best advice you’ve ever received?

Whatever you do, give it your 100%.

What is the hardest lesson learned?

That we can’t control everything in life, but we can control how we handle our lives.

What’s the biggest challenge you’ve overcome?

Raising my daughters in the best possible way.

When was the last time you said to yourself: “This was my best day at work”? What was the occasion?

I tell myself that every day.

What is your biggest passion – something that you are ALL IN?

My family.

Nikolay Vasev will be one of the INspirers of the Economic.bg business forum – ALL IN – taking place on September 19. At the event, he will seek to answer the questions of how our lifestyle affects the aging process, as well as how the combination of epigenetics and artificial intelligence can greatly increase the possibilities for disease prevention and personalized medicine. 

Moritz Seiler is Head of the Economic Section as well as focal point for Germany’s Feminist Foreign Policy at the German Embassy in Bulgaria since 2022. Before moving to Bulgaria, Mr. Seiler worked in the humanitarian assistance division, the division for strategic communication and underwent diplomatic training at the Federal Foreign Office in Berlin. Prior to joining public service, Mr. Seiler worked for almost ten years in the private sector as Manager for Asia and International Affairs at German wholesale company METRO AG and as Public Policy Manager for German testing and inspection company DEKRA e.V.

Mr. Seiler has studied at Potsdam University in Germany and at the University of California at Berkeley in the United States and holds a degree in public policy. He is married and has two children.

He will be part of the INnovations for INdustry: TRANSFORMERS discussion at the first Economic.bg ALL IN business forum, which will focus on the transformation of industries and the economy.

Mr. Seiler, do you see signs of recovery in the German economy?

The German economy is strongly focused on exports. In 2023, the most important export markets for Germany shrank by 0.1%. In 2024, these markets are growing by 3.2% and the same growth is forecasted for 2025. Once this growth materializes again into imports from Germany, our economy should recover. Currently, our expectation is a 0.3% growth for 2024 and a 1% growth for 2025.

I believe this is also an important message for the Bulgarian economy: most of what is produced in Bulgaria and exported to Germany will not stay in Germany. Therefore, I believe that for Bulgaria it is much more important to look at the state of the world economy – especially China and the United States – than to look at Germany, despite Germany being Bulgaria’s largest trading partner.

But please allow me to make a quick comment on the word “recovery”, because there has been a lot of doom and gloom around Germany’s economy lately. To give you some perspective: in 2023, Germany climbed from fourth largest to third largest economy in the world. We had a trade surplus of almost 226 billion US dollars, ranking second in the world, just trailing China and leaving behind natural resource giants and tax havens. The German stock index Dax – and the stock market is always looking towards future earnings – has reached one record after another this year. I don’t want to sugar coat the structural challenges we are facing in Germany, but I remain firmly convinced: Germany is and will continue to be an economic powerhouse.

One of the big problems of the German economy at the moment is expensive energy. How are you working to solve this problem and how do you see the future of energy transformation in Bulgaria?

Energy prices in Germany are now lower than they were before Russia’s full-scale invasion into Ukraine and the subsequent energy crisis. Germany has been hit extremely hard by this crisis, because we were so dependent on Russian gas. We never again want to see that kind of dependence. And this shock motivates us to speed up the transition to renewables. Energy from wind and sun will help us to achieve long-term low energy prices. Yes – at the moment, we have to invest heavily into modernizing our entire energy infrastructure, but in the long run, variable costs for renewables are much lower than for fossil fuels, including nuclear. Wind onshore has a production cost of 3.9-8.3 ct/kWh, solar/PV is at 3.1-11 ct/kWh, while lignite coal is at 10.4-15.4 ct/kWh and hard coal is at 11-20 ct/kWh.

What is the result of all that? Last year, almost 60% of electricity in Germany was produced from renewables.

From what I hear, Bulgaria’s coal-fired power plants halved their electricity output last year. Solar production has increased by 141%. So, the energy transformation in Bulgaria seems to be in full swing.

Three observations: one, the development I just outlined obviously entails huge structural change. In Germany, we continue to experience a similar process for more than fifty years and it is difficult. But: Bulgaria and Germany, we are not alone in this. Bulgaria received 1.2 billion Euro from the EU Just Transition Fund and is set to receive a total of 5.7 billion Euros in grants out of the EU’s Recovery and Resilience Facility. Two, German copper processor Aurubis – biggest company in Bulgaria – just started to invest 800 million Lewa to upgrade its production site in Pirdop. Their CEO Tim Kurth told the media that Aurubis is investing that money not despite the green transition, but because of it! Three, I think there is huge potential for Bulgaria to further benefit from the energy transition. North East Bulgaria is one of the windiest regions in Europe and perfect for on- and offshore wind energy. A German investor has shown interest in investing one billion euro into a floating photovoltaic power plant. The only thing necessary: less bureaucratic obstacles and swift permissions.

How do you see the development of the German economy in the next 5-10 years, and hence the future of its relations with Bulgaria?

The German Council of Economic Experts, the main economic advisory council of the Federal government, has identified the shrinking volume of labor as main challenge for Germany’s growth in the next ten years – a problem which is quite familiar to Bulgarians, I believe. The good thing: we can tackle this challenge. For once, we can establish more pathways for legal migration. But we can also further utilize the existing potential workforce. In Bulgaria, for instance, 70% of all women are working. In Germany, it is only 55%. Germany needs to learn from Bulgaria. In Bulgaria, in contrast, 72% of young female and 55% of young male Roma are unemployed. This is a great labor reservoir that is waiting to be activated. One big German investor in Bulgaria is working persistently with local NGOs to promote higher education among the Roma community and integrate members of the community into the labor market

What measures can be taken by the Bulgarian side to facilitate and encourage the activities of German businesses in the country?

The biggest private company in Bulgaria is German. 30 out of the 100 largest investors in Bulgaria are German companies. 3 out of the 10 largest employers in the country are German. I think it is fair to say that Bulgaria is an attractive investment destination for German companies.

However, I want to point your attention to an open letter which the biggest bilateral chambers sent to leading Bulgarian politicians July. In this letter, the chambers call on – quote – “all political parties and leaders for dialogue, constructiveness, and clear priorities in forming a government. The business expects stability and predictability, which can only be achieved through joint efforts and compromise.” Nothing to add from my side.

On a different note: during my summer vacation I also attended the Christopher Street Day parade in Berlin and the corporate involvement was just massive. There were trucks forming the parade from companies like Siemens, Allianz, Commerzbank to name just a few. On the Mercedes-Benz sponsored truck, you could see their CEO dancing and celebrating. Supporting the LGBTIQ community is by now deeply enshrined in German corporate culture. Therefore, I fear that discussions like the one on amending the Pre-school and School Education Act may potentially have an adverse effect on investment decisions by German companies. These companies are looking for investment destinations where diversity is seen as an asset, not a threat.

With the adoption of the euro in Bulgaria, do you expect trade relations to deepen and why?

Germany very much appreciates the commitment of the current government as well as the previous governments to introduce the Euro and, hence, to further Bulgaria’s integration into the European Union. As the Bulgarian Lew is already pegged to the Deutsche Mark since 1997 and later to the Euro, I would not – maybe with the exception of tourism – expect immediate massive effects on trade relations. However, adopting the Euro means a reduction of transaction costs for businesses operating in Germany and Bulgaria, which especially affects businesses that did not engage in German-Bulgarian trade so far. As none of Bulgaria’s neighbors – with the exception of Greece – is a member of the Eurozone, such a reduction of transaction costs could well translate into investment decisions that benefit Bulgaria. This could also boost the establishment of global value chains that include Bulgaria and Germany.

What are the solutions to the problem of the shortage of personnel in Bulgaria and what practices from Germany can be used in our country?

As mentioned before: I believe this is a problem both our economies have in common. One thing, however, I fail to fully understand: on the one side, shortage of personnel is always mentioned by businesses as one – if not the biggest – challenge they are facing. On the other side, there is fear of mass unemployment in the coal regions, Bulgaria has the longest maternal leave and the lowest rate of flexible work positions in the European Union. Hence, there should be ample opportunity to counter the problem of labor shortage. One example: German prothesis manufacturer and global market leader Ottobock built a plant in Blagoevgrad and took over around 100 workers from a company that was shutting down – completely different industry – , retrained them for half a year and is now successfully operating a 90 minute drive away from Sofia with its tight labor market. What do I want to say: why not consider the current shortage of labor as an opportunity to integrate or reintegrate people into the labor market for whom that is currently not so easy?

What is the place of artificial intelligence in education? What is the example of this in Germany?

AI is the key technology of the 21st century. It is a huge opportunity and has enormous potential, for example in education, research and business. Our ministry of education has drafted an action plan that shows how and with what measures we can succeed in eleven fields of action, from research to use in schools. Particularly important are the further strengthening of the research base, the expansion of the AI ​​infrastructure, the use of AI in education and the better transfer of AI into applications.

One concrete example is the AI campus, an open and interoperable digital learning platform on artificial intelligence. The AI ​​Campus’s education offerings are available free of charge to anyone interested: universities, vocational training institutions, companies or private individuals. In addition to the digital learning platform, the advantages of digital learning platforms are combined with the practical relevance and impact of local educational ecosystems by establishing regional hubs. For example, teachers or teacher training students will find a suitable offer on the AI ​​campus to impart knowledge about artificial intelligence in school lessons in a practical and clear way, for example with the courses “School makes AI” or “School makes data”.

What is the area in which Bulgaria has the greatest potential to become a leader on the European map?

Please allow me to try to answer your question through the prism of some of Germany’s foreign policy priorities: First, Ukraine must not lose the war against the Russian aggressor. Second, we have to fight climate change. Third, we follow a feminist foreign policy approach aiming at equal representation, rights, and resources for everyone. Now – where is the link to Bulgaria’s potential? On defence: Bulgaria’s support for Ukraine, especially regarding ammunition, has shown the great potential of Bulgaria’s defence industry. I have attended a number of events hosted by the Ministries of Defence, Economy and Innovation on the development of Bulgaria’s defence industry and I am convinced that Bulgaria can take a leadership role in this sector. On decarbonization: in Q1 of 2024, Bulgaria has reduced its CO2-emissions more than any other EU member state. And there is opportunity for more: Bulgaria has great hydropower resources that are not yet fully exploited. Plus, there are ambitious plans for the development of a hydrogen-based industry in former coal regions. On feminism: Bulgaria has the highest share of ICT professionals in the European Union – 29.1%. At the same time, the European Commission ranks Bulgaria last in using the ICT skills of women for employment. Now imagine what happened if you unleashed this hidden super power?

What must we do to reach this place of leadership?

Bulgaria has been and continues to successfully use EU funding to develop these sectors. However, there is room for more, especially considering that Bulgaria has until now only fulfilled the preconditions for the first tranche of its recovery and resilience plan. I am also convinced that Bulgaria can make good use of the newly introduced EU and NATO funding mechanisms in the defence sector.

What is your biggest passion – something you are ALL IN on?

Next to my family – and this might sound a little bit boring – I am really ALL IN on my job. In diplomacy, you get to work on so many different issues that sooner or later impact people’s lives. I have the chance to contribute to the representation of a fantastic country – home of Beethoven and BMW – in a country which is, as I just laid out, crucial to achieve our shared policy goals. To me, ALL IN means never stop thinking about how to create additional value out of our bilateral relations as well as our partnership in the European Union and in NATO.

Krasimir Kotsev will be one of the INspirers of the Economic.bg business forum – ALL IN – taking place on September 19. During the event, he intends to provoke the audience with his presentation titled “AI is not AI” by pulling back the curtain to reveal what really hides behind the acronym AI that almost every startup today uses for self-promotion. He will dispel some AI myths and misconceptions and make us wonder whether the technological shift is actually as big as people imagine. He will also talk about what new career opportunities the AI ​​industry opens up and what knowledge people need in order to adapt and stay relevant in the job market.

Krasimir Kotsev became passionate about cyber security at the age of 14 when he began learning how to breach networks and systems. He has many years of experience as an expert in the field. In 2018, he founded the company SoCyber, specializing in vulnerability assessment, penetration testing, Red Teaming, social engineering and other security testing disciplines. His vulnerability management platform Kikimora.io launched two years ago.

Mr. Kotsev, imagine that Elon Musk has achieved a big breakthrough for humankind, and you can go on a one-year trip to Mars. Which three celebrities (living or dead) would you like to travel with?

Pencho Semov (the man who turned from a simple peasant into a respected entrepreneur, also known as the ‘Bulgarian Rockefeller’), Simon Sinek (who seeks meaning in every action and undertaking), and Richard Branson (the “YES” man who knows how to have fun while doing business).

You are entitled to spend one working day with a company executive (dead or alive). Who would you choose and why?

Once again, Pencho Semov – an outstanding example of how using innovative thought, perseverance and financial culture you can create dozens of successful ventures, starting from scratch, with the main goal of improving people’s lives in society, and without an emotional need for recognition.

Imagine you are shipwrecked on a lonely island, but all your basic human needs such as food, water, and shelter are met. What two things would you like to have with you and why?

My love partner: Sexual energy and love have been proven to be the strongest motivators in this world and would give me more meaning to find a solution to get back to civilization or provide me with an opportunity to create a new society on a lonely island.

And a friend who’s brought 2 beers: every venture requires like-minded people and partners to realize it with, because people are interdependent, and after every long working day, one should find time for a beer with a friend.

If you could give just one book as a gift for the rest of your life, which one would it be?

Start with Why (Note: written by Simon Sinek).

You are a time traveler. You have the option of moving forward into the future or going back into the past. Where would you like to go and why?

I would stay in the present. I am a tech-minded person, and although the past attracts me precisely because of the lack of technology and the ability of people to communicate more fully and live outside the matrix, it’s the lack of hygiene and modern medicine that would dissuade me from visiting. Looking into the future would not help me to be a better entrepreneur because every innovation needs years to develop and a precise moment to be accepted by society.

You get a chance to get a superpower (any skill you can think of), but only for a day. What would that power be and why?

The power that lets me in just one day identify and attract to my environment people with similar moral values, ethical norms and entrepreneurial spirit.

Can you identify the biggest threat/challenge for your company in the next five years?

The biggest threat is possibly poor judgment in recruiting and bringing in the wrong employees who would weigh our “shuttle” down and use up the fuel for the right people before the “shuttle” has reached the next gas station.

What is the area in which Bulgaria has the greatest potential to become a leader in Europe?

Technology development.

AI is a hot topic, but what is the most neglected issue linked to it that is important to discuss?

What new positions and industries will AI open up so that society can start preparing and training early to be in the right direction?

Which of your tasks would you never want to outsource to a robot?

The personnel selection.

Which is more important: talent or hard work?

50/50, their combination is the key to success.

Which is more important: education or experience?

Enthusiasm! Because experience and education go hand in hand; one learns and gains experience every day of one’s life’s journey.

What are the three things without which success is not possible?

Desire, purpose, persistence.

What fascinates you nowadays?

Seeing a man carrying a bouquet of flowers on the street or someone helping a passerby. I am increasingly fascinated by things that in the past were accepted as the norm in human relationships and absolutely basic for a person to function normally in society.

What’s the best advice you’ve ever received?

Never mind, let’s do it!

What is the hardest lesson learned?

One must take care of things and maintain them, not let them fall apart – building something from scratch takes many times more energy and resources than maintaining something already built (applies to relationships, business and most things in life).

The biggest challenge that you’ve overcome?

Starting a company with BGN 2,000 alone and in less than 5 years and being able to develop it into an organization with a turnover of over BGN 1 million where people come to work with a smile on their face.

When was the last time you said to yourself: “This is my best day at work”? What was the occasion?

I write the answer to this question as I’m sitting at a beach bar: I am passionate about my work and changing the world to be a little better every day, my family and friends are alive and well and I manage to satisfy the needs of my adventurous self. What more does a person need?…

What is your biggest passion – something you are ALL IN?

Cybersecurity. I like to “hack” in the true sense of the word – that is, finding a resourceful (cunning) method for a non-standard, but effective solution to a given problem.

We present to you one of the INspirers taking part in our ALL IN business forum – Boriana Manolova, CEO of Siemens for Bulgaria, North Macedonia and Ukraine. On September 19 at Hilton Sofia, she will plunge us into the depths of the industrial metauniverse and tell us more about the effect this innovative technology is having on businesses, the economy and daily lives. 

Boriana Manolova (PhD, Eng.) is a global-level expert in the fields of electrification, automation and digitalization. She is a Board member of the Council of Women in Business in Bulgaria, vice-chairman of KRIB, Board member of the Bulgarian Chamber of Mining and Geology, chairman of the Board of Trustees of the University of Telecommunications and Post (UTP) and the University of Ruse “Angel Kanchev”.

Say Elon Musk has already achieved his planned big breakthrough for humanity and you’re going on a year-long trip to Mars. Which three celebrities (living or dead) would you like to accompany you?

For such a trip, I would choose three people who, for me, embody to the greatest extent the spirit of innovation, progress and human potential. First, Leonardo da Vinci—his interdisciplinary genius and insatiable curiosity about the mysteries of life would inspire us to see Mars not only as a new frontier but as a blank canvas for reinvention and reimagining. Second – Ada Lovelace. As the world’s first programmer, her visionary thinking would help us look beyond the obvious and discover new interconnections and unexplored possibilities. Finally, I would like to take David Bowie with me – his music and artistry would keep us firmly connected to the essence of being human, even when Earth is a tiny dot somewhere among the distant stars.

Now imagine you are entitled to spend one working day with any company executive (dead or alive). Who would you choose and why?

I would certainly choose Werner von Siemens. And not only because he is the founder of Siemens AG, but because he is a unique combination between an engineering genius, a successful entrepreneur and a bright visionary with responsibility towards generations. Spending a day with him would be an extraordinary opportunity to connect the past with the future. His entrepreneurial spirit and relentless pursuit of innovation continue to inspire us, and I believe his insights still hold true for all those technological pioneers who are blazing paths into the future.

I would use this day to find out if he ever imagined that his inventions such as the pointer telegraph, the dynamo, the electric locomotive, and the trolleybus would have such an impact on the overall development of mankind. I want to learn how he would envision the role of technology in shaping society and how he would approach today’s challenges such as digitalization and sustainability.

Imagine you are shipwrecked on a lonely island, but all your basic human needs – food, water, shelter – are met. What two other things would you like to have with you and why?

As an engineer, my first thought, of course, is to wish I had an ax or some other similar tool that would enable me to build a raft or boat to get off the island.

If this is impossible, I would like to have a seed bank with me so I can plant. Having a diverse collection of seeds would allow different plants to be grown and would ensure an additional food source. At the same time, taking care of them would give me something to do on a daily basis.

If you could give as a present just one book for the rest of your life, what would it be?

“The Little Prince” by Antoine de Saint-Exupéry. This timeless tale captures the essence of the human experience through the eyes of a child, reminding us of the importance of imagination, curiosity, and the bonds that bind us. In a world driven by the pursuit of success, The Little Prince serves as a reminder to value what is truly important – love, relationships and the simple joys in life. It is a book that transcends the limitations of time and space, offering wisdom and perspective to any reader, no matter where they are on their journey.

You are a time traveler. You have the option of moving forward into the future or going back into the past. Where would you like to go and why?

I would choose to travel 100 years into the future. The pace of technological and societal change is accelerating, and it would be extremely interesting to me to see what the world would look like a century from now. I want to understand how humanity has dealt with today’s challenges such as climate change, digitization and social justice. It would be an opportunity to learn from these insights in our time to shape the present better and prepare for what lies ahead.

You are offered a superpower (any skill you can think of), but only for a day. What will you choose and why?

If I could have a superpower for a day, I would choose the ability to make people understand each other. I believe that a large part of today’s problems of humankind, including military conflicts, are due to the lack of empathy and the desire to really know the other person and to walk in their shoes. Imagine the impact of such a force—dissolving misunderstandings, bridging cultural differences, and fostering understanding, if only for one day. Barriers could fall, decades-old conflicts could be left behind and people and nations could reinvent themselves in a new way. This force would be a catalyst for lasting harmony and progress. I know it sounds utopian, but nothing stops us from dreaming…

Name the biggest threat/challenge for your company in the next five years.

The biggest challenge for Siemens over the next five years is to remain at the forefront of new technology development while maintaining our commitment to sustainability. As digitization accelerates, we need to innovate fast enough while ensuring that our solutions contribute to a sustainable future. Balancing these two imperatives – innovation and sustainability – will be critical to lasting success.

Which area offers the greatest potential for Bulgaria to become a leader in Europe?

I believe that Bulgaria has the potential to become a European leader in digital innovation. Thanks to its well-educated workforce, thriving startup ecosystem and strategic positioning in Europe, our country can harness these strengths to become a hub for digital transformation, especially in areas such as IT, AI and automation.

AI is a hot topic, but what do you think is the most neglected issue that needs attention?

Yes, artificial intelligence has been talked about a lot in recent years. Various concerns have been cited, from the very pragmatic like the disappearance of certain jobs to those straight out of science fiction. Most of them are related to the practical application of AI and its ethical dimensions.

However, there is another important issue that I think is largely neglected – the effect of AI on art and culture. While artificial intelligence can undoubtedly generate impressive artistic results, it is crucial to ask what “art” really means in the age of artificially created works.

Art has historically been an expression of human emotion, experience and perspective. If AI can mimic these elements, what will happen to the value we place on authenticity and originality? Won’t they be supplanted by “artificial art” that only requires an AI app to create?

Also, if one could be an “artist” or a “poet” at the push of a button, wouldn’t that make the creation of new, original works by human artists, which sometimes takes months, even years, meaningless? And how can we, the consumers and connoisseurs of art, be sure of the originality of the value of whatever is offered to us?

In this sense, it is essential to foster a dialogue that balances the potential benefits of AI in the arts with the preservation of human creativity and artistic potential.

Which of your tasks would you never want to outsource to a robot?

I would never entrust mentoring to a robot. While AI and automation can handle many tasks, a human approach to targeting, inspiring and nurturing talent is indispensable. Mentoring means understanding people, empathizing with their challenges, and fostering a culture of growth and innovation—qualities that require a deep human connection.

Which is more important: talent or hard work?

Hard work is more important to me. Talent is a great starting point, but dedication, persistence and the desire to push forward are the real drivers of success. Hard work allows you to develop your skills, overcome obstacles and constantly improve, no matter where you start. Talent can give you an edge, but hard work in pursuit of excellence is what makes the difference.

Which is more important: education or experience?

Both are important, but experience is more essential than education because it brings knowledge to life. Education provides the foundation, but only through experience we apply what we learn, adapt to real-world challenges, and gain the practical wisdom that drives success. The combination of the two is ideal, but if I had to choose, I would value the lessons learned from the experience more highly.

What are the three things without which success is impossible?

Vision, persistence and collaboration. Vision provides direction and purpose. Persistence helps you overcome setbacks and stay the course. Collaboration relies on team synergy to achieve something greater than you could on your own. These three elements are the pillars that support any lasting achievement.

What fascinates you nowadays?

I am fascinated by the intertwining of technology and sustainability. The way emerging technologies like AI, IoT and renewable energy are coming together to create smarter, more sustainable solutions is truly inspiring. At the same time, the demand for ever-greater resilience of businesses, economies and societies generates strong pressure for innovation and new solutions to make this possible. This intersection has been one of the most powerful engines of technological progress in recent years.

What’s the best advice you’ve ever received?

“Embrace uncertainty as opportunity.” In today’s fast-paced world, change is constant, and uncertainty can be frightening. But it’s also where innovation and growth happen. If you see uncertainty as a chance to explore new possibilities and adapt, you turn challenges into stepping stones to success.

What is the hardest lesson you’ve learned?

The hardest lesson I’ve learned is that perfection is the enemy of progress. Striving for absolute perfection can lead to procrastination, missed opportunities, and burnout. It’s important to strive for excellence, but also to recognize when something is good enough. Progress often comes from iterating, learning and improving over time, rather than waiting for everything to be perfect to take the next step.

The biggest challenge you’ve overcome?

I think that every day at the head of a large and diverse company like Siemens Bulgaria is a challenge. If I had to mention just one thing, I think of how we were able to move to a hybrid mode of operation at the beginning of the COVID-19 pandemic, as well as redefine and adapt our work processes and employee care in a very short time after that. Our entire team worked at an extremely high level, which allowed us to handle this emergency situation smoothly.

When was the last time you said to yourself “This is my best day at work”? What was the occasion?

I have had many occasions when I have said this to myself – moments of achievement, breakthroughs and team successes that fill me with pride and joy. Each time I think, “That’s it, it can’t get better than this!”, I am then pleasantly surprised by the next conquered peak that’s higher than the last.

Still, one of the most exciting and memorable moments was when Siemens Bulgaria received the Team of the Year award at the end of 2022.

What made this day particularly special was the sense of unity and shared achievement. We had been through several years of significant change and unprecedented challenges, and yet we emerged stronger, more united and more determined. As I stood there with my team holding this award, I felt a sense of immense pride in the people who made this achievement possible. And at that moment I said to myself that this is one of the greatest days of my career!

What is your biggest passion – something that you are ALL IN?

My biggest passion is promoting diversity and inclusion in the workplace and beyond. I believe that diversity is a catalyst for innovation, driving creativity and resilience in our teams. Inclusion, in turn, ensures that diverse voices are not only heard, but valued. This is not just part of corporate responsibility; it’s about building a future where everyone has a chance to succeed. This is my cause both as the head of Siemens Bulgaria and as a co-founder and member of the Board of the Council of Women in Business in Bulgaria.