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31 Companies Get Additional Funding under the “Support for development of innovations by start-ups” Procedure under OP “Innovation and Competitiveness”


In the middle of August, 31 Bulgarian companies received additional funding from the Ministry of Economy under the “Support for development of innovations by start-ups” procedure. The total amount of the additional funding is BGN 11.4 million and the largest contract amounts to BGN 391 thousand. The additional contracting was made possible following a proposal by the Ministry of Economy to the Monitoring Committee of the Operational Program “Innovation and Competitiveness” to increase the financing and granting funds to companies that have more than 80 points after the application, but have remained in the reserve list.

All the beneficiary companies under the program have presented startup projects from four areas of the Ministry of Economics’ strategy for intelligent specialization – information technology, mechatronics and clean technologies, biotechnology for healthy life as well as creative and recreational industries. The duration of each project should not exceed 2 years as of the date of entry into force of the grant agreement.

In order to boost capital market investments, the Ministry of Economy together with representatives of the Bulgarian Stock Exchange (BSE) are discussing the introduction of incentives to encourage companies to become public and listed on the stock exchange. The idea of providing vouchers in the amount of up to BGN 100 thousand is being discussed, to enable companies to cover the costs for the necessary documentation, investment intermediation and other activities necessary for their listing on the stock exchange. It is expected that the criteria and requirements for applying for funding in this direction will be prepared by the end of the year.