The Ministry of Innovation and Growth (MIR) will invest nearly BGN 2.3 billion in the development of Bulgarian business by the end of the year, the deputy director of the General Directorate of European Competitiveness Funds at the MIR Kalin Marinov announced at a Bulgarian-Turkish forum in Burgas, quoted by the department's press service.

The funds are part of the support package for companies under the National Recovery and Resilience Plan (NRRP), and the programs "Competitiveness and Innovation in Enterprises" and "Research, Innovation and Digitization for Smart Transformation".

They will be awarded as grants, financial instruments and a combination of both types of funding.

The MIR reminds that the application under the third procedure from the NPVU for building own systems from renewable energy sources in combination with batteries for storing the produced energy with a budget of BGN 200 million continues for nearly two months.

It can be used by micro, small and medium-sized enterprises, as well as companies with up to three thousand employees from almost all economic sectors.

In the coming weeks, the opening of the remaining two measures under the NAP - to promote the transition to a circular economy and to support companies with the "Seal of Excellence" from the European Commission is expected.

Under the first measure, micro, small, medium and large companies from the processing industry will be able to apply for a total of BGN 180 million for new equipment.

BGN 118.5 million under the second procedure will support the implementation of 15 innovative projects for cutting-edge technologies - biodegradable products, various software solutions for secure parental control, image recognition, accelerating the development of medicines, as well as personalized and intelligent care for Disabled.

Minister Pulev: We note a record exchange of goods with Turkey - over 7.3 billion euros in 2022.

According to Marinov, by the end of the year, procedures for grants and financial instruments for more than BGN 1.3 billion will be opened under the "Competitiveness and Innovations in Enterprises" program. The first two measures will be aimed at the development of development activities and the implementation of innovations .

A budget of BGN 420 million is planned for them. At the end of the year, a measure of BGN 117.5 million will be opened to improve the production capacity of family businesses and companies from the creative industries and crafts.

"We have already signed an agreement with the "Fund manager of financial instruments in Bulgaria" for BGN 1.2 billion. The development of some of the planned instruments has already begun with the market consultations and the selection of financial intermediaries who will invest the funds in the enterprises is expected soon . Both debt and equity financial instruments are planned for implementation. With them, companies will develop their competitiveness, their capacity for scientific research and the implementation of modern production solutions, create new jobs, as well as digital technologies to facilitate the lives of citizens he added.

Marinov also presented the opportunities under the new Program for Scientific Research, Innovation and Digitalization for Bulgaria.

This year, the funds available under it will be BGN 461.82 million, which will be allocated to build a national network of 12 digital and innovation hubs, to develop the Centers of Excellence and the Centers of Competence in the country, as well as in a voucher scheme for partnership between business and scientific organisations.