Last week, we introduced to the world our focus on AI-powered growth and the appointment of Petar Petrov as our Chief AI Officer – helping us and our startups succeed in the age of AI and stay at the forefront of this rapidly evolving field. This week, we continue the news and mark yet another significant milestone.
With great pride and excitement, we announce that Svetozar Georgiev, co-founder of Telerik, Telerik Academy, and Campus X, is taking on the role of Partner at Eleven Ventures. With his proven track record of building successful businesses and driving innovation, we are confident that he will be a significant contributor to guiding Eleven forward and expanding our Future of Work vertical with a strong emphasis on AI.
Who is Svetozar?
Svetozar Georgiev is a co-founder of Telerik, Telerik Academy and Campus X. After spending 14 years building a global software company, he is now dedicated to sharing his learnings with the next generation of Bulgarian entrepreneurs. As a co-founder and co-CEO of Telerik, Svetozar has been instrumental in steering the company from a bootstrapped startup to a global market leader, employing 850+ people in 11 offices around the world. So far, he has been overseeing the development of the educational institutions Telerik Academy and Telerik Academy Foundation, as well as the biggest private incubator in Bulgaria – Campus X. Currently, he is Chair of BESCO – the Bulgarian Entrepreneurs’ Association, Vice Chair of Teach for Bulgaria Foundation, and member of the Board of Trustees of the American University in Bulgaria. Svetozar is also an active mentor, advisor and angel investor, working with numerous startups and community organizations. His mission is to help the local tech and startup ecosystems evolve and become strong bottom-up forces for positive change in Bulgaria.
His role at Eleven
Svetozar’s expertise and passion for software and technology will play a key role in our Future of Work vertical, where he will put a special focus on its intersection with AI. He firmly believes that AI is leveling the ground, allowing even pre-seed companies with a handful of people to achieve a lot and attack incumbents with outdated technologies, business models, and go-to-market strategies.
The shaky path in the beginning of a company’s journey is when founders need most support – what not to do, how to focus their efforts, how to be creative and opportunistic, yet disciplined. Many choices, potentially with serious consequences. Svetozar is sharing our vision of “empowering local heroes to build global success” and joining us in helping our founders and get the lift off the ground. The #Oneof11 startups will benefit from his experience in strategy, positioning, market segmentation, and customer development. Being fascinated with product development, Svetozar will also guide the founders in the journey from an idea to finding the right market fit that can turn it into a successful business.
Looking ahead, Svetozar envisions Eleven building solid expertise in AI as a fund to empower our portfolio companies to differentiate themselves and outperform competitors through advanced technology. When it comes to Future of Work, he firmly believes that the vertical will be significantly impacted by AI and other emerging technologies – whether we like it or not.
“We all need to be part of this evolution, we need to be aware, and we need to participate in the public debate of how it shapes the future of humanity. Ignoring or avoiding the transformative effects of AI is not an option, as they will shape the future of humanity on personal, company, and country levels.”
Getting to know him better
1. What would you say is your #1 “superpower”?
I can simplify complex matters – dissect them and explain them briefly and concisely.
2. Knowing what you know now, what advice would you give your 18-year-old self?
Be bolder and braver. Ambition feeds ideas and dictates success of execution. As a nation we lack self confidence, and quite often this gets in the way of success. If you dream it you can achieve it.
3. Do you live by any motto or core principle?
My principle is to seek balance in life. Strive for professional success but be very disciplined about family time and health. Heroics don’t last long but if your “system design” is balanced it can be sustainable in the long run.
4. Aside from necessities, what one thing could you not go a day without?
Music. 😊 I am fanatical about music. It is an indispensable element to every situation – from family dinner, to focused work, to a cocktail party with friends. I need it all the time.
5. What was the last book you read? Which is your all-time favorite one?
The last book I read was Red Notice. No all-time favorite – it is hard to pick one. I love to read and listen to podcasts, thus expanding my perspectives and gaining knowledge every day.
The addition of Svetozar is another step in the expansion of the #Oneof11 family. Meanwhile, our Partner Vassil Terziev embarks on a new chapter of his journey and is stepping down from his position to devote more of his time to other initiatives. Vassil has played a pivotal role in the growth of Eleven over the past five years, contributing significantly to its transformation into one of the leading venture capital funds in the region. His dedication, expertise, and unwavering support have left an indelible mark on Eleven and the Bulgarian startup ecosystem as a whole. We sincerely wish him success in all his endeavors and we are sure that his example as one of the leaders of the Bulgarian startup ecosystem will find worthy followers.
We are excited about what’s ahead and remain committed to empowering local heroes to build global success. Let’s all give a warm welcome to Svetozar!