site.btaInnovation Ministry: National Innovation Fund to Finance 21 Projects Worth BGN 7 Mln

In its 12 previous competitive sessions, the National Innovation Fund (NIF) has funded more than 500 projects with more than BGN 100 million.

In the 13th competitive session of the NIF 21 innovation projects will receive nearly BGN 7 million. The Fund is managed by the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) with the Ministry of Innovation and Growth. The information comes from data released by the Agency on Wednesday.

The NIF provides funding of up to BGN 500,000 per project. In its 12 previous competitive sessions, it has funded more than 500 projects with more than BGN 100 million.

This year, the BSMEPA has introduced a number of changes aimed at reducing the administrative burden for businesses wishing to obtain funding for their innovative ideas. Companies now apply through a new system, and the form to be filled in has also been streamlined.

Among the proposals that find a place on the list of approved projects in the current session are a monitoring system to prevent serious diseases, a technology for the production of fire-resistant, energy-saving and insulating building elements from glass waste, an innovative approach for bioprinted cartilage implants, a solutions for microplastics contamination in aquatic environments, and an innovative educational application.

These are all part of the four priority axes that the Fund supports, related to ICT, mechatronics and clean technologies, industry for healthy living and biotechnologies, and new technologies in creative and recreational industries.

The 21 winning projects were selected from a total of 127 proposals. Of them, 17 will be implemented in partnership with research and knowledge dissemination organisations. One of the main objectives of the NIF is to promote research and development, the release says.