If it doesn’t improve people’s lives, we don’t do it. Shared the co-founder of Bulgaria’s No. 1 digital health company – BGO Software – Ivaylo Ivanov in the Darik Business Review podcast. Here are more highlights from the conversation:
Promising technologies in digital health, according to Ivaylo Ivanov
Ivaylo sees several key directions for the development of digital health, driven by technological advancements:
- Image recognition technologies that use algorithms to analyze X-ray and MRI images. These tools can detect diseases or abnormalities at a very early stage – often with accuracy exceeding human capabilities.
- AI models that support doctors in decision-making – by analyzing large volumes of data and offering specific guidance.
- Predictive algorithms in drug development, including technologies such as CRISPR and protein folding. It was precisely such tools that played a decisive role in the record-fast development of the first COVID-19 vaccine.
BGO Software’s contribution
Ivaylo and his team believe that real value is not just in the technology itself, but in the actual impact it has on people’s lives.
“We have an internal rule – every product we create must answer the question: how does it make someone’s life better? If we can’t answer that – we don’t do it.”
Today, BGO Software works with clients in over 15 countries, including the USA, UK, Germany, and Switzerland. The company specializes in software development for:
- Drug development – from concept to market realization
- Manufacturing and quality control
- Conducting clinical trials
- Management of patient and volunteer data
- Digitalization of medical forms
- Automation of processes in regulatory agencies
Among its partners are major pharmaceutical companies such as Roche, Fortrea, Labcorp, and Britannia Pharma. The company is also a partner of NLC Tech – the largest European healthtech investment fund. Together, they develop and invest in startups across Europe.
“If you start a business just for the money – better not start it at all.”
Ivaylo has always dreamed of building something big and sustainable, something that leaves a mark:
“Many people start a business with the mindset – I’ll make a lot of money, I’ll be my own boss, I’ll have freedom. But in reality, that mindset often leads to disappointment. But if someone starts a business to create something – a product, a service, a team, something that becomes an institution or a brand – then the difficulties with clients, employees, and circumstances are much easier to overcome. My goals are to create technologies with a positive impact on people’s lives and to contribute to the development of my country.”
Developing your country
Today, BGO Software primarily serves global markets, but its mission is deeply connected to Bulgaria:
“If we manage, with our company, to leave a good example – that we create meaningful things for the world in the field of digital health, if we succeed through our work and what we’re good at to help save more lives and improve people’s wellbeing, I’ll be very happy. We want BGO to remain a Bulgarian company – not just by registration, but in spirit. To show that things with global impact can be built from here. To put Bulgaria on the map of countries that have real product and engineering know-how, and not just be a services and outsourcing destination. My dream is that when people around the world talk about healthtech, they immediately think of Bulgaria.”
Building a team – not just a product
BGO Software now has a team of over 80 people and develops internal training programs, including an academy for young programmers.
“We don’t wait for the market to give us ready talent. We invest in people who share our values – even if they don’t know everything at the beginning.”
Ivanov believes that Generation Z is motivated differently – they don’t seek security, but purpose. “And that’s wonderful – as long as companies know how to channel it.”
BGO Software is a renowned IT company specializing in healthcare technology solutions. With over 15 years of industry experience, we offer comprehensive technology consulting, software development, and IT infrastructure services. Our focus on healthcare technology enables businesses to mitigate technological risks and accelerate growth, ultimately delivering enhanced value to patients.
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