General Discussion Forum

BULGARIA: Start-up funding for young entrepreneurs

BULGARIA: Start-up funding for young entrepreneurs

by Emilia Albonico -
Number of replies: 1

Access to information

The Ministry of Labour and Social Policy (MLSP) manages the Operational Program for Human Resources Development in Bulgaria and, as an executive agency, assigns projects on the topic „Encouragement of Entrepreneurship“ (Насърчаване на предприемачеството).

Access to capital

This project is funding new enterprises.The whole amount of the grant is 67 227 768.06 BGN. The minimum amount of funding is 50 000 BGN. The maximum amount for funding is 200 000 BGN. The maximum amount of the money dedicated only from this grant to the new projects is 80% of the whole investment. 

Annually, the Ministry of Economy implements the project „Техностарт 3- Насърчаване на иновационната активност на младите хора в България" (“Technostart 3 – Promotion of Innovation Activism of Young People in Bulgaria”). This project is implemented in line with the National Strategy for Small and Medium-sized Enterprises 2014-2020.

The project aims to encourage young entrepreneurs – students, phD and graduates in the earliest stage of the entrepreneurial cycle as the establishment of students’ companies is funded under the project. 

In order to obtain the funding each applicant, after approval of his business plan, must register a company at the Registry Agency and provide his own contribution of 10% of the grant amount in the form of funds and/or assets or up to 2 200 lv for every successful business plan separately. 

Currently, this project is the single initiative in Bulgaria that is financed entirely with public funds and provides grants for start-ups with business ideas in the field of industry and research and development. Although the initiative refers to entrepreneurship, innovative ideas and start-ups are also supported.

In reply to Emilia Albonico

Re: BULGARIA: Start-up funding for young entrepreneurs

by Ventsislav Perkov -
Very good direction for the development of technological innovations, I hope it will continue in the next planning period.