site.btaInnovative Sectors Are Drivers of European Competitiveness, EU Commissioner Zaharieva Says

The driver of European competitiveness is innovation and innovative sectors, European Commissioner for Startups, Research and Innovation Ekaterina Zaharieva said Friday during the presentation of the annual survey of the Bulgarian Association of Software Companies (BASSCOM) on the state and development of the software sector in Bulgaria - "BASSCOM Barometer 2024" in Sofia.

Zaharieva is on a working visit in Bulgaria. She stressed the importance of developing innovation and talent to boost Europe's competitiveness. 

Zaharieva pointed out that the aim of the portfolio she is in charge of is to help European innovative companies to grow, develop and stay in Europe. "Any innovative company that leaves the EU is a loss of resources, of high-paying jobs and a huge loss for our society", she noted. "My goal is to build the single market, to complete the single union for research and innovation", Zaharieva said, adding that this can be done with several acts, together with the member states, with scientists and business. She noted the European Research Act, whose main goal would be the free movement of science, innovation and talent, as well as removing the obstacles that exist for this to be achieved in Europe. She also pointed to the European Innovation Act, which supports the needs of innovative companies to develop, and added that the analyses that have been done in the Commission are that there is a need for capital, for talent and eased regulation.

Zaharieva noted the Horizon Europe programme for science and innovation and the European Innovation Council, whose aim is to support the financing of European innovative companies in growth. "In the first three years of the programme, Bulgarian companies have received as much money as they managed to get in the entire previous seven-year programming period", the Commissioner noted, adding that Bulgarian companies have good innovative ideas - the application process for the programme is competitive and the best, most innovative companies with the greatest potential for growth receive funding. She also pointed out that Bulgarian companies have already received EUR 12 million in grants and EUR 22 million in equity investments through the European Innovation Council.

Zaharieva announced that from 2025 the funding ceiling will be raised from EUR 15 million to EUR 30 million, which will significantly improve the opportunity of these companies to stay in Europe. She also stressed the importance of making it easier to attract talented people and highly qualified specialists to work in Europe. She said that the goal of the current European Commission is to make the EU an attractive place for talented people, scientists, innovators, engineers to live and work in and added that in this regard a programme called "Choose Europe" will be launched in that regard.