site.btaMinistry of Innovation and Growth: Over 700 Companies Want to Innovate with EU Funds

A total of 713 Bulgarian companies have applied for grants to implement innovations with the Competitiveness and Innovation Programme in Enterprises. The application procedure was entirely online and ended Thursday at 16:30, the Ministry of Innovation and Growth said here on Friday.

The measure was open to micro, small and medium-sized companies, as well as companies with up to 499 employees from different economic sectors. Their projects had to be related to introducing innovations as part of the Smart Specialization Strategy. 

The applicants have applied for financial support of over BGN 275 million. If approved, the enterprises will receive between BGN 50,000 and BGN 800,000 depending on their size. They will be able to use the funds to implement product innovations (goods or services) or innovations in business through the acquisition of tangible and intangible fixed assets. It will also cover the costs of consultancy and support services for innovation, such as protection of industrial property rights, access to data bases and libraries, and the instruments from laboratories for research, measurements and tests.