From Intel to ecosystem builder: the rise of BearLake Group

Rather than building a startup or a corporation from scratch, Michał Dżoga has opted to integrate profitable technology companies founded by Polish entrepreneurs. Together, they offer support to businesses and public administration in areas such as AI, energy and cybersecurity. BearLake also plans to connect global investors with local businesses.

A career as a “lifelong executive” is not for everyone. After years of running companies including CCC, Marcin Czyczerski co-founded a boutique advisory and implementation firm, GCG Partners, a year ago.

Michał Dżoga has gone further. After stepping down as managing director of Intel Poland, he joined forces with Max Dropiński and a group of Polish entrepreneurs to establish the technology holding BearLake Group. Launched in November 2025, the project has been ambitious from the outset.

“We started by bringing together eight Polish companies with combined revenues exceeding PLN 500m (EUR 115m). Within three years, we aim to grow this to more than PLN 1bn (EUR 230m). The companies employ more than 200 people, are profitable, and generate a combined EBITDA of around PLN 45m (EUR 10m),” says Michał Dżoga, CEO and co-founder of BearLake Group.

This is another example of a departure from a global technology corporation in Poland. Similar decisions have recently been made by Dominika Bettman of Microsoft and Magdalena Kotlarczyk of Google Poland.

Leaving Intel after 16 years

Michał Dżoga spent more than 16 years with Intel and took over as head of its Polish operations in 2023. He stresses that he is not turning his back on that experience.

“There comes a point, however, when one wants to use the skills acquired to build something new. In my case, it is not just about my own business, but an attempt to strengthen Poland,” he explains.

He notes that Poland’s economy now ranks among the world’s 20 largest, with both companies harboring global ambitions and thousands of highly skilled specialists.

“I want to test whether combining that potential with growing interest from foreign investors can deliver multiplied benefits for the country. That is why, rather than building a startup from scratch, I chose a holding structure based on proven companies,” adds the founder of BearLake Group.

Between scale and agility

The former head of Intel Poland says his decision to leave was also driven by a desire for greater agility. For a senior executive, he notes, working in a large corporation means operating within a complex machine.

“On a daily basis, you come up against processes and a business model built over decades. At BearLake, we can implement new ideas almost immediately, adjust plans – or abandon them altogether. In a global organization, even taking a step back takes time,” says Michał Dżoga.

He concedes that the new role also entails adapting to a different working culture. The American corporate environment he had grown used to is not the norm in Poland. In his view, it is precisely this clash of perspectives that tends to produce the best solutions.

No factory, but still a success

When Michał Dżoga joined Intel in 2010, the company employed a few hundred people in Poland. Today, it operates its largest R&D center in Europe here, with around 3,000 staff.

In 2023, the company announced plans to build a Semiconductor Integration and Testing Facility near Wrocław – an investment worth about $4.6bn, set to be the largest foreign direct investment in Poland’s history. The project was first put on hold and, in 2025, ultimately cancelled following changes in the company’s global strategy.

“Speaking about the past few years at Intel, I prefer to focus on what has been achieved. The very choice of Poland as a location was a breakthrough. The company assessed 90 sites across Europe, and the process took around two years. Poland’s selection was a major success,” says Michał Dżoga.

He stresses that this was due both to Intel’s team in Poland and to public administration – at both central and local levels.

“News of the investment travelled the world and drew the attention of technology investors to Poland on an unprecedented scale. Since then, the country has regularly featured in international reports as an attractive destination for high-tech projects,” he adds.

Expert's perspective

Poland ready to co-create large-scale projects

The question is not whether someone wants to build a factory in a given location, but whether the local community is ready to welcome a new neighbor. Preparations for Intel’s investment showed that such readiness already exists in Poland. The engagement of public administration, institutions, universities, research institutes and private companies demonstrated that the country can sustain a dialogue around projects of this scale.

The target model assumed a partnership-based approach to such investments. When TSMC built its plant in Dresden, it created a joint venture with local companies, including Bosch and Infineon. Poland is not yet at that stage, but awareness is growing among domestic firms of their own capabilities and their role in building the wider ecosystem.

During trade missions with PAIH (Polish Investment and Trade Agency) to Saudi Arabia and the United Kingdom, the rising importance of “local content” is clearly visible. In this area, I see the biggest breakthrough linked to Intel’s planned investment. There is still much work ahead, however, to fully capitalize on it.

Adam Piotrowski

CEO, Vigo Photonics

Bringing together experts and entrepreneurs

The CEO of BearLake Group argues that rising investor interest, combined with experience gained from preparing complex projects such as Intel’s investment, can translate into tangible success.

“Today, we have greater ambitions when it comes to attracting investment to Poland – and they are justified. We no longer want to be seen as a source of cheap labor, but as a country of skilled specialists working on innovation,” says Michał Dżoga.

The holding was created in cooperation with entrepreneurs – the principal shareholders of its constituent companies: Marcin Staniewski, Tomasz Wojewoda and Bartosz Parszewski – as well as Max Dropiński.

“Max is an experienced technology leader who has spent nearly 20 years delivering strategic high-tech projects around the world and is responsible for attracting key investments to Poland. He is also an expert in semiconductors and AI, involved in building a European ‘Silicon Valley’ spanning Poland, Germany, Czechia and Slovakia,” Michał Dżoga adds.

Connecting global investors with local business

One of BearLake’s objectives is to address a gap in which foreign investors entering Poland rely primarily on global supply chains. Yet – wherever possible – they should more broadly engage local companies and leverage Polish capital and know-how.

“Even in the Intel project, we placed strong emphasis on this, and we want to continue doing so. We connect global investors with Polish businesses. Over the past year, Max has visited Taiwan and Japan several times, promoting Poland as an attractive destination for high-tech investment. This month we are taking part in a trade mission to South Korea,” says Michał Dżoga.

The team has also become involved in the project of the Center for International Relations-Leaders Forum powered by Poland in Davos. In the near future, the first meetings are planned with representatives of global corporations considering investments in Europe.

Expert's perspective

Untapped potential of Polish subcontractors

In recent years, Poland has significantly increased its readiness to attract large-scale technology investments, as confirmed by projects from companies such as Google, Airbus, Boeing and Pratt & Whitney. The key challenge, however, is not the ability to attract investors, but the capacity to support such projects over the long term. This concerns above all the availability of highly specialized engineering talent for R&D centers, rather than work in assembly plants or on simple components.

Poland has solid foundations – a growing pool of specialists, competitive costs and increasingly experienced service companies. However, it still does not fully exploit the potential for cooperation between global investors and local subcontractors. What is missing is a coherent approach to integrating these environments and supporting the scaling of Polish firms’ capabilities.

Every new investment requires a well-prepared institutional ecosystem – from PAIH, through local governments, to Special Economic Zones. The offering must be comprehensive and well-designed, as investors today expect one thing above all: an efficient, predictable process.

Tomasz Szpikowski

CEO, Bergman Engineering

Supporting broad digital transformation

Beyond acting as an intermediary between local companies and foreign investors, BearLake focuses on the operational activities of the firms within its holding structure. The selection of businesses is complementary, designed so that they reinforce each other rather than compete.

“We aim to cover as broad a scope of digital transformation as possible, at every stage. Without energy independence, there is no digital world. That is why our holding includes a company developing solutions in this area, including large-scale energy storage. Infrastructure is equally critical – hence our capabilities in advanced network installations, private 5G networks, and server solutions for data centers,” explains Michał Dżoga.

The hardware layer is complemented by cybersecurity solutions and proprietary software. Artificial intelligence is also a key part of the offering.

“That is why we have brought in experts developing sovereign AI-based technologies. Earlier this year, Agnieszka Karlińska joined us – one of Poland’s leading AI engineers – together with a team that played an important role in developing the Polish language models PLLuM. We want to leverage this experience to support businesses and public administration in the effective and secure implementation of artificial intelligence,” says the head of BearLake Group.

The holding and its companies may acquire

The purpose of the holding is not to merge companies into a single organism. Each of them is expected to operate independently under its own brand. BearLake’s founders do not plan to build extensive structures or radically reshape the operations of portfolio companies. Their goal is instead to coordinate the flow of competencies and experience in shared areas.

“Today, BearLake is made up of a dozen or so people, and ultimately it will be a few dozen at most. We are looking for experts in areas that are key to all the companies, while targeted reinforcements are handled directly by the firms themselves. We have brought in people from different backgrounds, and it is precisely this diversity that is meant to be our strength,” says Michał Dżoga.

The target of doubling revenues by 2028 is based primarily on organic growth within the companies. Through the exchange of competencies, they are able to deliver larger projects that clients do not want to split into smaller parts.

“This will allow us to accelerate the growth of each of our companies. At the same time, we are also analyzing acquisitions in two directions – either if a given company adds value to the holding or if it can benefit from joining it,” adds Michał Dżoga.

Expert's perspective

Future technologies need energy

The creation of BearLake Group sends a clear signal of change: Poland is moving from a phase of waiting for investors to actively managing its own ecosystem. This means a shift away from a model based primarily on low operating costs towards advanced technology projects and R&D.

A good example is Kraków. The opening of the Creotech Instruments office at the Kraków Technology Park shows that the deep-tech sector sees access to talent, scientific infrastructure and a supportive development environment.

However, the potential is still not fully utilized. It requires faster development of energy infrastructure, greater predictability of processes, and further strengthening of cooperation between business, local government and academia.

The biggest challenge remains energy. For future technologies, access to energy is becoming a critical resource – the foundation for data centers and Industry 4.0. If this element is secured, Poland’s potential will no longer remain a promise, but will translate into tangible economic outcomes.

Mateusz Zurzycki

Vice President, Kraków Technology Park

AI, cybersecurity and energy security

Solutions deployed by companies within BearLake Group – across ministries, corporations and other institutions – are used daily by more than 10 million people. The holding focuses on three core technology areas. The first is cybersecurity.

“Its importance is growing alongside an unstable geopolitical environment and an increasing number of attacks on IT systems and critical infrastructure. This applies both to companies and public administration. Without adequate safeguards, every organization is exposed to serious risk,” stresses Michał Dżoga.

The second area is artificial intelligence. BearLake focuses on implementations that support people and organizations while improving process efficiency. The group emphasizes that it has the capabilities to develop and deploy sovereign technologies tailored to real market needs.

“The third pillar is energy security. The energy transition linked to the growth of renewable energy sources requires grid stabilization, including through large-scale energy storage. We focus on our own sovereign solutions – both technological and software-based,” says Michał Dżoga.

Smart cities and large-scale computing power

BearLake’s ambitions do not end there. The holding draws on years of experience in designing and deploying smart city systems that combine infrastructure, telecommunications and AI competencies – from intelligent transport systems to video surveillance with image analytics supporting safety and traffic flow.

“Within the group, we integrate CCTV systems – video surveillance systems for a defined group of users – advanced video analytics such as event detection, traffic intensity analysis and parking systems, with ICT solutions, data centers and AI platforms for real-time data processing. This enables cities to manage infrastructure, safety and transport proactively, in a centralized oversight model,” explains Michał Dżoga.

The group is also planning projects related to the development of large-scale computing capacity in Poland.

“Energy is still expensive, but over the long term its availability will increase and the energy mix will improve. In many parts of Europe, the situation is worse today. We are in talks with foreign partners interested in investing in this area. We need sovereign computing capacity located in Poland, operated by Polish engineers and independent of other jurisdictions,” Mr. Dżoga emphasizes.

Expert's perspective

We can compete in Europe’s top league

The creation of BearLake is an important signal for the technology market. Poland is not short of talent or capital – the challenge lies rather in the absence of entities capable of connecting global investors with the local ecosystem and navigating administrative and regulatory realities to deliver projects. Experience gained from initiatives such as Intel’s investment is therefore highly valuable.

Today, Poland has strong arguments to compete for a place in Europe’s top tier. It has a large talent base – further strengthened after 2022 by the inflow of skilled professionals from Ukraine – operates within the stable regulatory framework of the EU, and has a growing group of managers with experience in international corporations.

Operating costs, combined with a high level of competence, remain competitive compared with Western Europe. Poland also has long-standing experience in managing global shared service centers. This is not only about talent, but also about a ready-made process and management infrastructure that can be quickly adapted to new investments. Finally, it is worth highlighting the rapidly increasing defense spending, which opens an entirely new category of technology projects in which Poland can act not as a subcontractor, but as a strategic partner.

However, there are areas requiring urgent action. Administrative procedures for infrastructure projects – such as data centers – still take too long. The second, equally pressing issue is the modernization of energy transmission networks. High-density data centers dedicated to AI require large amounts of energy. Building infrastructure capable of ensuring its availability should become one of the country’s key infrastructure priorities.

In addition, technology investors are setting increasingly strict ESG targets, while Poland’s energy mix still relies on coal. This creates a real reputational and contractual risk. Modernizing the energy infrastructure will require significant state involvement, but it could itself become the largest infrastructure project of the decade – with a multiplier effect across the entire economy.

Poland has solid foundations to become one of Europe’s key technology hubs. The question remains how quickly it will decide to remove the barriers that still hold this potential back.

Łukasz Węgrzyn

Partner, Osborne Clarke Poland and Head of IT & Data Practice

Key Takeaways

1. Concrete capabilities and development directions. Solutions deployed by BearLake companies are used daily by more than 10 million users. The holding focuses on three key areas: cybersecurity, artificial intelligence and energy security. In parallel, it is developing capabilities in smart city systems and plans to engage in projects involving the development of large computing capacities in Poland.
2. Intel experience as the foundation of a new strategy. Michał Dżoga and Max Dropiński, founders of BearLake Group, were responsible at Intel for preparing the project to build a semiconductor factory in Poland. They stress that the very selection of Poland – despite the project’s later cancellation – significantly increased the country’s visibility among global technology investors. Today, they aim to leverage that experience to support the inflow of new projects, their execution, and integration with local business, maximizing the participation of Polish subcontractors.
3. High ambitions of a young group. BearLake brings together eight Polish companies operating in broadly defined digital transformation. They employ over 200 people, generate approximately PLN 45m (EUR 10m) in EBITDA and more than PLN 500m (EUR 115m) in revenue. Within three years, the holding plans to double its scale, primarily through organic growth and the exchange of competencies, which is expected to facilitate access to larger contracts. Acquisitions are also under consideration – both at holding level and within individual companies.