FMFIB JSC is implementing an operation for financial instruments through a holding fund under „Research, Innovation and Digitalisation for Smart Transformation” Programme (RIDSTP) 2021–2027, co-financed by the EU.
The total support under RIDSTP 2021-2027 for financial instruments and grants in one single operation with financial instruments is EUR 60 033 613, of which EUR 47 000 000 is provided by the European Union through the European Regional Development Fund.
The financial resource will be used to structure a financial instrument „Technology Transfer Fund” (TTF), which will offer a financial product for equity and quasi-equity investments combined with grants in one single operation.
The goal of this financial instrument is to develop and strengthen the technology transfer, thereby increasing the investments in applying new funding models in science and innovation. TTF will facilitate the transfer of knowledge and technologies and will support the active commercialization and monetization of scientific researches and intellectual property. The use of financial instruments under RIDSTP 2021-2027 is expected to lead to greater efficiency and effectiveness of funding due to the implementation of a market-oriented evaluation of innovativeness and economic feasibility of scientific researches.
The Technology Transfer Fund will provide support for spin-off companies, high-tech startups, and knowledge-based enterprises as part of industrial startup systems, transforming scientific developments into market-applicable products and technologies, monetization, and management of intellectual property. The fund will also stimulate the deployment and acceleration of startups in developed industries and clusters. The combination of science and business will lead to highly effective knowledge transfer and sharing of scientific research results, thus contributing to the economic development of the respective sector and regions in the country.
The Technology Transfer Fund is financed under Priority 1 „Sustainable Development of the Bulgarian Scientific Research and Innovation Ecosystem”, „Specific Objective: Development and Strengthening of Research and Innovation Capacity in Implementing Modern Technologies”, and Priority 3: „Technology and Knowledge Transfer” of RIDSTP 2021-2027.
The planned financial distribution between financial products is as follows:
A combination with grants in one single operation is foreseen, for example, for technical assistance for early-stage developments (proof-of-concept; minimal viable product), market testing, business plan preparation, etc., and/or investment grants.
The financial instrument will be structured under one or more alternative investment funds that address different stages of development of supported enterprises:
Sub-fund „Early Stage” for providing support to enterprises primarily for proof of concept, acceleration, and early stages;
Sub-fund „Commercialization” for supporting enterprises that invest in mass production and sales of new products;
The target final recipients of the TTF are spin-off companies, high-tech startups, and knowledge-based enterprises as part of industrial startup systems.
At least 57 enterprises are expected to be supported, out of which 29 to be newly established.
