European Commissioner for Innovation, Research, Culture, Education and Youth, Iliana Ivanova, who spoke at an information day on financing high-tech scientific research and innovation organized by the European Innovation Council (EIC) in cooperation with the Ministry of Innovation and Growth here on Monday, said that Bulgaria and the EU have no choice in the global race but to strengthen their capacity, specifically through investment in skills, science and innovation.
Ivanova said that all sectors of the Bulgarian economy need to be competitive based on Bulgaria's specific strengths and the structure of its industry. She added that the great interest in Monday's event is a sign of Bulgaria's enormous potential.
For the time being, Bulgaria continues to be defined as an emerging innovator, as it faces challenges to encourage public and private investment in R&D. Bulgaria's participation in the Horizon Europe programme has so far reached more than EUR 108 million, Ivanova said.
Bulgaria should take advantage and develop even more areas where it has its specific expertise, Ivanova said, pointing to medicine, chemistry and security.
"If you have talents and bold ideas, we have the tools to support you on the road ahead. The European Innovation Council is supporting the most innovative among you, with a budget of more than EUR 10 billion," Ivanova said. The EIC can provide up to EUR 17.5 million to high-risk start-ups in deep technology. So far, five Bulgarian companies have been successfully funded under the EIC with a total of EUR 10 million in grant funding and EUR 22 million through equity investment.
/RY/
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