Bulgaria launches 65 mln euro business innovation grant

Micro, small and medium-sized enterprises (MSMEs), companies with up to 3,000 employees and large companies collaborating with MSMEs will be eligible for funding, the innovation ministry said in a press release. Project applications can be submitted until May 15.

The proposed projects must focus on innovations in the fields of IT and ICT, mechatronics and microelectronics, health industries and biotechnologies, creative and recreational industries, along with clean technologies, circular and low-carbon economy.

Funding will be directed towards innovations related to research, testing, measurement and validation, prototype and pilot line creation and testing, as well as activities to protect industrial property rights nationally and internationally. Among the priorities are also advancements in autonomous robots for the manufacturing industry and sectors with a long-term staff shortage and the development of clean production, storage and processing methods for certain Bulgarian products.

Additionally, financing will be deployed for hydrogen-based technologies across various sectors, as well as innovations in in-vitro processes, tissue engineering, regenerative medicine and the digitalisation of cultural and creative industries.

The minimum funding amount is 50,000 levs, with micro-enterprises eligible for up to 250,000 levs, small companies up to 400,000 levs and larger companies up to 500,000 levs. Companies will contribute 25% to 60% of the project costs themselves.

The grant scheme is part of the EU-backed operational programme Innovation and Competitiveness.

(1 euro = 1.95583 levs)