The Fund of Funds (FoF) has selected the “Innovation Capital II” Consortium as the financial intermediary to manage the “Innovation in Enterprises Fund“, financed under the “Competitiveness and Innovation in Enterprises” Programme 2021–2027, co-financed by the European Regional Development Fund.
The public resources provided by the FoF amount to €32.17 million and the selected fund manager is expected to raise additional co-financing from private investors, bringing the total size of the “Innovation in Enterprises Fund” to €36.08 million.
The Fund will provide support for the creation of new and development of innovative businesses in order to stimulate innovation in Bulgarian enterprises and the development of high value-added products. The expected effects include improving the internal innovation capacity of companies and ensuring better access to high technologies. Half of the resources will be directed towards the development of innovation in enterprises in the less developed regions of the country.
The investment period of the “Innovation in Enterprises Fund” is until December 31st, 2029.
