In 2024, businesses can apply for over BGN 660 million under innovation procedures

In 2024, Bulgarian businesses can apply for more than BGN 660 million under procedures from the "Competitiveness and Innovations in Enterprises" program under the Ministry of Innovation and Growth. With the funds, companies will be able to develop and implement various types of innovations, protect industrial property rights, introduce technologies from the field of Industry 4.0, etc.

For the first time, MIG will launch a procedure to increase the production capacity of a specific category of enterprises - family businesses and those from the creative industries and crafts. The budget is BGN 117 million, and the eligible costs will be aimed at acquiring machinery, equipment, and software related to the production goals of the enterprises. The aid for them will be between BGN 25,000 and BGN 150,000.

"Cultural and creative industries have a huge potential for development in Bulgaria. They are a sector with high added value to our economy, which must be supported and encouraged for development", commented the Minister of Innovation and Growth Milena Stoicheva.

With a budget of BGN 127 million, a procedure for developing innovations will also be opened for application. The grant that Bulgarian companies can receive will be between BGN 50,000 and BGN 500,000, with co-financing up to 60%. For example, innovations related to artificial intelligence, cloud computing, communication networks, including wireless sensor networks and wireless communication or control may receive support. Innovations related to the launch of serial production of Bulgarian autonomous robots and systems and their implementation in industry will be encouraged.

In 2024, a procedure for the protection of industrial property rights in enterprises at the national, European and international level will also be launched. The total budget is BGN 24 million, and the minimum financial assistance for a project will be up to BGN 3,000, and the maximum up to BGN 50,000.

With a total of BGN 101.7 million, the introduction of technologies from the field of Industry 4.0 in enterprises will also be supported. The goal is to increase digitization, ensure cyber security and data privacy, as well as increase the digital skills of employees. The minimum financial aid will reach BGN 35,000, and the maximum - BGN 500,000. The grant-in-aid under this procedure is combined with the use of a debt financial instrument, providing easier conditions for obtaining loans.

Until January 31, companies can apply under the innovation implementation procedure with a budget of BGN 293 million. The minimum amount of the grant will be BGN 50,000, and the maximum is differentiated according to the size of the companies.

The funds will finance the implementation of product innovations (goods or services) or innovations in business processes through the acquisition of durable tangible and intangible assets. The costs of consulting and support services for innovation such as protection of industrial property rights, provision of access to databases and libraries, provision of services from laboratories for conducting research, measurements and tests will be covered.

"With this financial resource, we will be able to support hundreds of Bulgarian enterprises that want to increase their competitiveness by implementing innovations in their work. In the Ministry of Innovation and Growth, we have directed efforts to encourage companies from various sectors throughout the country to modernize their businesses," commented Minister Stoicheva.