Funds to be allocated by the Fund Manager of Financial Instruments in Bulgaria EAD
A BGN 1.2 billion of unused funds under operational programs will be available to the Bulgarian business following December 2017. The money comes from the European Structural Fund for the programming period 2014 – 2020. A single body – the, so called, “Fund of Funds”, will manage the amount available under different programs. The funds will be directed to projects and businesses through financial intermediaries – banks, funding funds, legal and natural persons.
Until now, departments to the relevant ministries have managed the funds, under the individual programs. They have been non-repayable, but have hardly reached the beneficiaries. Under the new allocation procedure, the system will aim at absorbing as much of the European money as possible. In general, the documentation procedure is what holds documents burden applying for operational programs and there is no opportunity to apply online. This repels entrepreneurs who consider the application procedure for an investment fund easier. It is precisely under the principle of an investment fund that investment through intermediaries of the “Fund of Funds” will occur. The main difference between funds and operational programs is that the funds received are repayable and a return might be expected – after the agreed period, the investor may expect an interest rate on the profit or shares in the enterprise.
The procedure for selecting financial intermediaries for the Fund of Funds was open until November 6, and the selection of fund managers will take place in the beginning of December.
For more information, visit this website.
Funds under OP “Innovation and Competitiveness” for 2018
Next year BGN 290 million will be allocated under the Innovation and Competitiveness Operational Program. Just over half of this amount, or about BGN one hundred and fifty point six million, will be for growth of small and medium-sized enterprises. The application process will be open from April to June 2018. Funds will help to acquire assets, introduce quality and business management systems. The eligible funds for allocation will be between BGN one hundred thousand and BGN one million
BGN 107.6 million will be allocated for research in innovation and is intended for both small and medium-sized companies. However, large ones will also be considered. The call for proposals will be open at the end of this year until February 2018 and the amount of the grants will total between BGN one hundred thousand and BGN one point five million. At the end of 2018, the procedure for allocation of funds to cluster organizations will be launched. Funding will range between BGN two hundred thousand and BGN five hundred thousand per project for activities such as exchange of information, knowledge, technology, marketing to attract new members, etc. The deadline for application is scheduled to take place to be between September and November 2018.
More than 50 partner organizations in Bulgaria operate and direct funds under EU programs. A full list and detailed instructions on where, how and for which projects your business can apply, are available at EU’s website for access to financing here.
Business offers from China
A Chinese investment intermediary is looking for a partner in Europe for strategic cooperation regarding technology projects. Suitable partners include technology parks, research centres and clusters. The Chinese client is a technology park with developments in ICT, ocean biology, renewable energy sources, new materials, 3D printing, etc.
If you are interested in this offer, you can contact our team for more information or with our partners in China by email kevin_wangxk@yeah.net.
