YOUNG BULGARIANS TO GET BGN 50,000 FROM THE EU FOR THEIR INNOVATIVE BUSINESSES

At least BGN 50,000 assistance under the new Operational Programme " Innovation and Competitiveness 2014-2020 " ( OPIC ) will help the young Bulgarian, who decided to start a new and innovative business.

This is one of the measures designed to develop the economy in the country by the draft program prepared by the Ministry of Economy and Energy. Young entrepreneurs will receive priority support.

In order to benefit from this kind of support by the OPIC, young businessmen will have to have a new enterprise and will have to realize a business idea worth over EUR 25,000.

The concrete parameters of the aid and those of eligibility of candidates will be detailed after the completion of the preliminary assessment of the implementation of the financial instruments.

Thus young businessmen are the main target of the 2014-2020, OPIC, with over half of the planned funds totaling EUR 1.414 billion dedicated to them.

But the OPIC is also set to provide support for large enterprises as well as other types of beneficiaries in partnership with companies such as universities, research institutes and research organizations, technology transfer offices, technology centers, clusters with potential for high value-added output, "Sofia Tech Park", agencies and departments related to the provision of services for businesses and improving the business environment.

Moreover, the OPIC is also scheduled to finance projects not only in the field of innovation and production, but also for business ideas related to agriculture, tourism, services and others.