site.btaOver 500 Bulgarian Companies Apply for Funding for Innovation Development

A total of 514 companies submitted project proposals under the "Developing Innovation in Enterprises" procedure of the Innovations and Competitiveness Operational Programme 2021-2027. The total value of the companies' projects is estimated at over BGN 250 million. Companies have requested grants worth BGN 144 million, the Ministry of Innovation and Growth said in a press release Thursday.

The deadline for applications was May 15. The total budget of grants that companies can receive under the procedure is BGN 127 million.

The aid will benefit micro, small and medium-sized enterprises (SMEs), small companies with a medium market capitalization and large companies in partnership with SMEs. The minimum amount of funding is BGN 50,000 and the maximum depends on the size of the companies. Co-financing is 25% to 60% depending on their category. 

The companies' projects had to focus on developing an innovation in one of the areas of Informatics and Information and Communication Technologies, Mechatronics and Microelectronics, Industry for Healthy Living, Bioeconomy and Biotechnology, New Technologies in Creative and Recreational Industries and Clean Technologies, Circular and Low Carbon Economy.