site.btaInnovation Minister Singles Out Two Priorities: Encouraging Innovation and Attracting Strategic Investors

The Ministry of Innovation and Growth has two strategic priorities: promoting innovation and attracting strategic investors to Bulgaria, said outgoing Minister Milena Stoycheva Friday. The first will be achieved through an active agenda and continued vision and work on making Bulgaria a leading innovation hub for South-East Europe.

"Technology, human talent and an ecosystem approach are at the heart of our vision to make South-East Europe an innovation hub," the outgoing minister said. "We have specific measures that we have set out which provide for the promotion of start-ups as well as stimulating the development of innovation in established companies," she said.

Stoycheva highlighted the drive to effectively use the financial resources provided for the creation of a technology transfer fund and a technology transfer office, along with new policies and tools to stimulate innovation in priority areas - defence, chips, space, artificial intelligence, biotechnology, green technology, energy storage, mechanical engineering and metallurgy. 

This, she said, will go with a consistent application of a sustainable approach along the model of open innovation.  

"We continue to work to make innovation a cross-cutting policy and develop this approach synergistically with all other partners and ministries," she explained.

The second priority - attracting investment - will be based on innovation policy and attracting strategic investors for the region. To this end, several measures are planned related to the development of a national strategy for high-tech parks and industrial zones. 

"The Ministry has succeeded in attracting resources, together with the Finance Ministry and the support of the European Investment Bank, the European Investment Fund, in the amount of BGN 1.38 billion for the next programming period, which will provide liquidity for companies and for the development of Bulgarian business," said the Minister.