News

Fund of Funds and the BIA Prepare Public Awareness Events to Assist Business

04.12.2020

The Fund of Funds (FoF) provides various financing opportunities, but businesses are still not well aware of the support instruments. That is why the FoF and the Bulgarian Industrial Association (BIA) will hold a series of information events to raise awareness among Bulgarian companies.

This was agreed by Vladimir Danailov, FoF Executive Director, and Radosvet Radev, Chairman of the Bulgarian Industrial Association at a working meeting at the BIA. It was also attended by the BIA Deputy Chair Stanislav Popdonchev and its Secretary-General Dobri Mitrev.

The first webinar for BIA members will be held at the end of January 2021. It will present the various financial instruments available for business support, as well as success stories featuring projects that have already benefited from them. During the Q&A, participants will be able to address their questions directly to FoF representatives.

The Fund plans to develop a digital manual and a business self-evaluation tool, which will be made available on the BIA website as well.

By 2023, the 235 million euro managed by the FoF under the OP Innovation and Competitiveness 2014 – 2020 is expected to be fully invested, along with a significant amount of privately-sourced capital. So far, equity investments have been made in 21 companies, using a total of 11.2 million euro from both public and private sources. By the end of the current year, nearly 50 companies are expected to receive financing.