28.02.2024

MINISTRY OF INNOVATION WITH NEW MEASURES FOR STARTUPS

Several measures to promote entrepreneurship in our country are planned by the Ministry of Innovation and Growth, it is clear from Minister Milena Stoicheva's answer to a parliamentary question regarding the additional BGN 10 million requested by the department from the budget.

First of all, it is planned to develop a National Program for the support of innovation valleys, which will provide national funding for approved projects under the Horizon Europe Program, the minister points out. She reminds that on May 17, 2023, the program published a call for projects for connected regional "valleys for deep technological innovation" to unite regions with a lower and those with a higher degree of innovation development.

The aim is for the institutions responsible for innovation to work together with the local sector and science to build a common vision and activities aimed at creating key sectors for Europe such as reducing dependence on fossil fuels, increasing food security, digital transformation and cyber security, improving health care, etc. Each innovation valley project consists of two components - for the preparation of an action plan and for a joint transregional competition for the recruitment of project proposals.

In addition, the ministry plans to launch a new initiative aimed at promoting open investment. It aims to create a dynamic ecosystem for start-ups to stimulate the participation of such enterprises in open innovation platforms. These include various stakeholders who are involved in the process at all levels – eg academia, government, civil society, etc. The Ministry will support the launch of such an ecosystem through a platform aimed at innovative small and medium-sized enterprises, as well as organizing a direct connection of the successful participants of the platform with leading global high-tech corporations.

Mentoring and coaching sessions will be provided with experts in the relevant field, sessions with presentation of the subject of activity and the potential need for financing, as well as for finding potential partners, the ministry specifies.

Another measure envisages the creation of a Program for the promotion of the Bulgarian innovative start-up ecosystem in an international aspect. It will ensure the participation of start-up innovative enterprises in summit meetings, specialized events and conferences with the aim of presenting Bulgarian entrepreneurs. The main goal of the measures is the positioning of Bulgaria as a high-tech hub in the Balkans, a good investment destination and a place full of talent and potential, says Stoycheva.