EUR 1.415 billion is Planned For the Development of Innovation

For the 2014-2020 period, innovation in the Intelligent Specialization Innovation Strategy (ISIS) envisages EUR 1415.6 million in 4 priority areas where Bulgaria has the economic, scientific and technical capacity for smart specialization, reported Econ.bg

In the words of the Deputy Minister of Economy, Lachezar Borissov, the capacity for innovation of the Bulgarian companies has improved after Bulgaria's accession to the EU. However, the country is facing a number of obstacles to become innovative. In this regard, he pointed out that the main objective of the Ministry of Economy is to create models to overcome these obstacles by enabling more companies to become innovators and more actively engaged in the development of new products and processes.

Deputy Minister Borissov stressed that Bulgaria is smoothly reaching the main strategic goal of ISIS by 2020, namely to move from the group of "modest innovators" to the group of "moderate innovators" by the end of 2017 our country is reaching an innovative performance of 48% of the EU average, at 40% in 2014.