Bulgaria to Invest Up to 180 Million Euros in Innovative Companies via JEREMIE Initiative

Bulgaria is set to invest up to 180 million euros in its innovative companies and small and medium-sized enterprises (SMEs) through the European JEREMIE initiative. This significant funding boost follows the Bulgarian Parliament's ratification of amended agreements between Bulgaria and the European Investment Fund (EIF).

The new financial instrument aims to provide additional support for developing Bulgaria's innovation ecosystem and fostering businesses with high growth potential. The investment package includes 48.4 million euros from returned funds of the "SME Initiative" Operational Program.

The EIF will manage the JEREMIE funding, channeling it into various strategic areas. These include development capital, technology transfer, advanced technologies, the Three Seas Initiative, and companies operating in the defense and dual-use technology sectors. This diversified approach underscores Bulgaria's commitment to modernizing its economy and strengthening key industries.

JEREMIE has proven to be a highly successful financial tool for supporting businesses in Bulgaria since its inception in 2009. To date, it has mobilized 349 million euros in investments for companies, with over 200 million euros subsequently reinvested into new financial instruments. This track record highlights the initiative's effectiveness in driving economic growth and innovation within the country.