Тoday, September 12, 2024, the Fund of Funds signed a Financial Agreement with the Executive Agency Programme “Education” under the Ministry of Education and Science, acting as the Managing Authority of Programme “Education” 2021-2027. The total public resources allocated for financial instruments amount to BGN 32,649,668, of which BGN 26,023,513.16 come from the European Social Fund Plus (ESF+), and BGN 6,626,154.84 is national co-financing. Additionally, private capital is expected to be attracted to support startups run by students and PhD candidates.
The signed agreement envisages the creation of equity and debt financial instruments aimed at developing the entrepreneurial potential of students and PhD candidates, with the participation of university professors. These FIs aim to facilitate the target group's access to funding for starting their own businesses or other entrepreneurial initiatives. More than 220 new companies are expected to be supported. The funds will be allocated indicatively as follows (75% for equity and quasi-equity investments and 25% for debt products, including loans and guarantees).
Market consultations will soon be held to gather feedback from market stakeholders regarding their needs and priorities, ensuring the optimal structuring and application process under the financial instruments.
This is the fourth Financial Agreement for the 2021-2027 programming period that the Fund of Funds has signed.
