It is often said that capital made the deals and fools created the innovations. But what happens when the fools are there – yet the capital is missing? For a long time, that was the reality in the Balkans. The region was seen as Europe’s backyard, a place where ideas were suffocated by war, bureaucracy, or political control.
And yet, there is a story rarely told: the Balkans have, time and again, produced groundbreaking innovations. The birth of the computer has roots in Bulgaria. Electronics, medicine, even space technology have emerged from this region. But the capital? It often disappeared elsewhere.
The question now is whether this can change – as AI, digitalization, and a new global race for ideas unfolds.
The Bulgarian Roots of the Computer
When we talk about the history of the computer, most people think of Silicon Valley, Alan Turing in England, or IBM in the U.S. But in fact, an important part of computing’s birth lies in Bulgaria.
John Vincent Atanasoff, whose father was Bulgarian, developed the first electronic digital computer together with his student Clifford Berry in the 1930s – the Atanasoff-Berry Computer (ABC). Without this step, neither today’s computers nor AI would exist.
Later, Bulgaria earned the nickname “the Silicon Valley of the Eastern Bloc.” During communist times, the country manufactured computers, microchips, and hardware distributed throughout Eastern Europe. One famous example is the Pravetz computer series, still remembered with pride by many Bulgarians.
But the capital – free, global capital – was locked out. These innovations stayed within the Eastern Bloc and never became global phenomena.
Other Innovations from the Region
The Balkans are richer in innovation than many assume:
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Electronics and microchips – in the 1970s and 80s, Bulgaria was one of the largest exporters of computer equipment in the Eastern Bloc.
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Medical advances – Bulgarian scientists developed early techniques in pharmacology and probiotics. Bulgaria is still famous for its yogurt, but also for research into its health benefits.
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Space program – Bulgaria was the first Eastern Bloc nation after the USSR to send an astronaut into space: Georgi Ivanov (1979).
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Communication technology – Romania, Yugoslavia, and other Balkan countries contributed to early radio and telecom advances.
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Creative industries – from music and film to video games. Serbia today is home to a growing gaming industry.
Innovation has always been present – but often underfunded, isolated, or overlooked by the West.
Fools Without Capital
The problem in the Balkans was never a lack of ideas or creative minds. The problem was capital.
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Under communism, resources were centrally controlled.
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After the fall of the Iron Curtain, money often vanished into corruption or short-term deals.
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Long-term investments – the kind that build the future – flowed into Central Europe, not the Balkans.
While the Czech Republic, Poland, and Hungary became industrial powerhouses, Bulgaria and several other Balkan states lagged behind.
They became Europe’s fools – visionaries existed, but there was no one to make the deal.
The Present – New Opportunities
Today, the region stands at a crossroads.
On the one hand, the same old problems remain:
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Corruption that scares investors away.
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Bureaucracy that makes growth difficult.
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A stigma of being Europe’s backyard.
On the other hand, enormous opportunities have emerged:
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A young, well-educated population with strong IT skills.
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Digital nomads and startups putting the region on the map.
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Low costs that make capital more effective here than in the West.
AI and digitalization are reshaping the game. Capital is searching for new markets, new minds, and new places where ideas can grow quickly.
This is where the Balkans can shift from being Europe’s fools to becoming tomorrow’s winners.
Signs of Change
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Sofia – increasingly home to international companies. Bulgaria has one of the fastest-growing IT sectors in the EU.
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Bansko – from ski resort to international hub for digital nomads. Ideas are born here that wouldn’t be possible in Silicon Valley, precisely because of the mix of cultures, lifestyle, and creativity.
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Novi Sad – often called “Serbia’s Silicon Valley,” with strong investments in programming and AI.
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Cluj-Napoca in Romania – thriving as a tech city, attracting startups and capital.
These are signals that capital is finally beginning to notice the region.
Tomorrow’s Fools in the Balkans
Who, then, will drive the next wave of change?
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The Young Programmers – building AI models from their bedrooms in Sofia or Skopje.
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The Returning Minds – Bulgarians, Serbs, Romanians who worked in London or Berlin and now bring home knowledge, capital, and networks.
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The Creators – musicians, designers, filmmakers using AI and digital tools to project Balkan culture to a global audience.
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The Nomads – foreigners settling in the region, blending their knowledge with local culture.
Tomorrow’s fools in the Balkans are no longer isolated. They operate in a world where AI can give small ideas enormous reach. The question is whether capital dares to recognize this potential.
How Bulgaria Can Secure Its Creative Future
If Bulgaria – and the wider Balkans – truly want to transform from Europe’s fools into tomorrow’s winners, it is not enough to wait for capital to arrive. The region must design a framework that protects, cultivates, and multiplies creativity.
Here are some ideas that could make a difference:
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National Creative Hubs
Establish hubs in cities like Sofia, Plovdiv, and Varna where technology, art, and entrepreneurship meet. These hubs should not only provide co-working spaces but also mentorship, funding, and access to international networks. -
Education that Blends AI and Creativity
The future belongs to those who can combine technical skills with imagination. Bulgaria should lead by creating schools and university programs where coding, design, and entrepreneurship are taught side by side. Imagine a new generation that can build both algorithms and stories. -
Returning Talent Programs
Thousands of Bulgarians abroad have global experience. Offering them tax incentives, grants, or leadership positions to return and invest their knowledge at home could unleash a powerful wave of innovation. -
Nomad Integration
Digital nomads already see Bulgaria as an attractive base. Instead of treating them as temporary visitors, Bulgaria could integrate them into the local ecosystem through partnerships, co-ownership models, and community projects. Their global insights could enrich local creativity. -
Creative Economy Investment Fund
Create a public-private investment fund dedicated not just to tech startups but also to cultural and creative industries. This recognizes that tomorrow’s innovation will not come from code alone, but from the fusion of art, design, storytelling, and technology. -
Global Storytelling
Bulgaria should brand itself not only as “cheap and skilled labor” but as a land of hidden geniuses and creative rebels. The story of Atanasoff, Pravetz, and Bulgaria’s role in computing should be told globally. The same with its contributions to space exploration, music, and AI. Stories attract both capital and talent.
Conclusion – A New Role for the Balkan Fool
The Balkans will always carry the scars of history, but scars can also be marks of resilience. The region has been dismissed as Europe’s fool, lagging behind in the race for capital. But fools, history shows us, are often the true visionaries.
If Bulgaria chooses to protect and invest in its creative future, if it dares to combine the madness of vision with the discipline of capital, then it could become something more than a latecomer.
It could become Europe’s next creative engine – not despite its past, but because of it.
By Chris...
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