site.btaBulgaria's Lowest Eco-Innovation Index in EU Implies Big Potential - Innovation Starter

Bulgaria has the lowest eco-innovation index among the EU member states, Tsvetan Tsolov, chief operating officer of Innovation Starter, said here Thursday. He was speaking during a forum on "Innovation and Entrepreneurship - 20 years later" taking place at the House of Europe on the occasion of the European Entrepreneur Day.

The eco-innovation index reflects different aspects of eco-innovation by applying 16 indicators grouped into five dimensions: eco-innovation inputs, eco-innovation activities, eco-innovation outputs, resource efficiency and socio-economic outcomes.

The low index implies that there is a very high potential for future development, said Tsolov. Therefore, one of the main goals is to move Bulgaria from a "modest" entrepreneur to the top of the ranking.

In Bulgaria there are over 20 active investment funds, accelerator programs and ecosystems of "business angels" that support entrepreneurs in early and accelerated stages of development, Tsolov added. They are focused in the area of supporting early entrepreneurship.

Around 2,200 startups were created between 2013 and 2021, of which 25% were in the circular economy.

Stefan Dobrev, member of the Governing Board (GB) of the European Institute of Innovation and Technology, said during the event that Europe's role is to create an environment for good ideas. The environment in Europe may be the biggest "ecosystem" for entrepreneurship that exists anywhere.

Dobrev explained that this is achieved through the so-called "triangle" of businesses, universities and research centres. In the middle of all this is entrepreneurship. The role of the European Institute of Innovation and Technology is to make sure this triangle exists in all possible areas and environments.