EU funding provided to startup companies

Companies should take advantage of EU finding under the new OP Innovations and Competitiveness as a means to start and develop their business and not rely on it permanently, said Economy Minister Bozhidar Lukarski in an interview with Bulgaria on Air.

Following April 20 applications will be accepted under the first axis of the OP – Improvement of the Production Capacity of SMEs. The total funding earmarked under the axis is EUR 150 million, while the companies which fail to achieve the targets set in their projects would have to refund 5 – 25% of the funds provided to them, the Standart daily reports.