site.btaAid Requested under Competitiveness and Innovations in Enterprises OP Exceeds Budget Twice

The Ministry of Innovation and Growth reported great interest on the part of family businesses, companies from the creative industries and crafts in the procedure announced by the department for assistance under the Competitiveness and Innovations in Enterprises Operational Programme. Applications for the measure, which aims to increase production capacity and accelerate development, ended on September 16, and 2,894 enterprises applied for financial support, the Ministry of Innovation and Growth informed on Tuesday.

The measure's budget is BGN 117.5 million, and the funds requested by the companies amounted to BGN 286.3 million. This is over twice the designated resource. Depending on their type and size, the companies applying for grant funding have applied for assistance in an amount between BGN 15,000 to BGN 150,000. The funds are provided for targeted costs for the purchase of new machinery, equipment, tools and specialized software. There is also an opportunity to introduce ICT systems or modules to improve management, production and logistics processes. The funds will allow for the establishment of online stores, and the companies can improve their market performance and increase their sales.

The grant provides up to 75% funding to family businesses and businesses in the creative industries and up to 85% to businesses in the craft sector. The percentage is higher than standard rates for other procedures, and the aim is to maintain the sustainability and continuity of these companies, the Ministry explained.

The evaluation of the received project proposals will begin in a few days. The results and lists of approved candidates will be published on the Ministry of Innovation and Growth website.