The Technology Transfer Fund (TTF) is implemented in line with the goals of Operational Programme Innovation and Competitiveness 2014-2020 (OPIC), co-financed by the European Structural and Investment Funds to bridge the gap between science and business, commercialisation and internationalisation, R&D, promotion of innovation.
It is planned to set up one or more funds in the form of a closed-ended investment fund, with the Fund of Funds acting in the standard role of a limited partner.
The resources made available by the Fund of Funds amount to BGN 58.7 million, and additional co-financing is expected to be raised from private investors.
The TTF will provide equity and quasi-equity financing to final recipients and will finance projects the benefits of which would remain in or flow to Bulgaria.
TTF investments will be aligned with the goals of the national strategy for smart specialisation, with a focus of the following industries: ICT, pharmaceuticals and bio technologies, mechatronics, nano- and clean technologies, creative and recreational industries.
Eligible final recipients include business start-ups, SMEs and large companies, including their subsidiaries and joint ventures.
The Technology Transfer Fund should be established and managed by professionals in the area of equity investments (Financial Intermediaries). The financial intermediaries will be designated as a result of open, transparent and non-discriminatory selection procedures in compliance with the requirements of the applicable EU law and national legislation.
Current stage of the instrument: The Fund of Funds (FoF) has launched a call for selection of a financial intermediary with respect to a new Technology Transfer Fund (TTF). Candidates for Fund Managers are welcome to submit proposals at the office of the Fund of Funds until December 19, 2019.