site.btaUPDATED Bulgarian SME Agency, Innovation Norway Sign Cooperation Agreement

Representatives of the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) and of Innovation Norway signed a cooperation agreement here on Thursday on a project that will improve the administrative capacity of BSMEPA to promote and develop the presence of Bulgarian small, medium and emerging enterprises in foreign markets.

The event was held in the presence of Deputy Minister of Innovation and Growth Martin Gikov, BSMEPA Executive Director Boyko Takov, Counsellor at the Embassy of the Kingdom of Norway in Bucharest, Kerstin Wahlberg, Director Division Tourism and Special Assignments at Innovation Norway, Elisabeth Meyer, representatives of the Swiss Embassy in Sofia, among others.

In his keynote address, Gikov said that creating additional capacity for innovation and globalization of Bulgarian SMEs is the hidden ingredient that can add value to the efforts already made by his ministry and BSMEPA to support Bulgarian companies not only in terms of liquidity but also in terms of experience, knowledge and opportunities to be more competitive in a world where innovation makes a difference.

Wahlberg said that the signed Cooperation Agreement shows not only commitment but also proves that there is a foundation to build on. The implementation of the joint project between the two entities is another good example of support being given and a starting point for future steps, she added.

A project entitled "Implementation of innovative combined support measures for supporting innovation and technological development and promotion of the internationalization of the Bulgarian SMEs through exchange of knowledge and experience between Norway and Bulgaria," which has BSMEPA as its partner and beneficiary, was presented by its head, Tomislav Atanasov. The project worth BGN 385,715 is funded by the Fund for Bilateral Relations under the Financial Mechanism of the European Economic Area and the Norwegian Financial Mechanism in the 2014-2021 programming period. The project began on July 17, 2023, and is scheduled to end on April 29, 2025.

The project's main objective is to increase the capacity and competence of BSMEPA, contributing to the implementation of innovative combined measures to support the innovation and technological development system, and also promoting the internationalization of Bulgarian SMEs.

The project has three specific objectives. First, the organization of joint events aimed at sharing expert advice, training, knowledge exchange and sharing of good practices. The second one is to develop innovative tools to monitor and support the technological development of emerging companies in Bulgaria. The third one is related to the creation and expansion of a transnational and interdisciplinary partner cooperation network in order to promote and develop the presence of Bulgarian SMEs in foreign markets.

Among the highlights of the project's six months of implementation was the visit of a Bulgarian delegation from BSMEPA to Oslo in September. A key event in BSMEPA's programme for 2024 is the participation of Bulgarian emerging companies at Innovation Week in Oslo at the end of the year.

The Norwegian Financial Mechanism has been an example of good cooperation with Europe for 25 years. Fourteen countries are recipients of grants under this programme, including Bulgaria, which ranks third in terms of the amount of funds, after Poland and Romania.