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The Fund of Funds Joined a Panel Discussion on Innovation adoption at Innovation Nexus

13.02.2024

The Ministry of Innovation and Growth, together with the Ministry of Education and Science and the Embassy of Finland in Sofia, organized a discussion on the development of the innovation ecosystem in Bulgaria. The Innovation Nexus event took place at Sofia Tech Park on February 12th in the presence of Prime Minister Acad. Nikolay Denkov, Minister of Innovation and Growth Milena Stoycheva, Deputy Minister of Innovation and Growth Martin Gikov, Deputy Minister of Education and Science Genka Petrova, Ambassador of Finland to Bulgaria H.E. Kristiina Kuvaja-Xanthopoulos, founder of one of the leading startup events in the world SLUSH Peter Vesterbacka, representatives of the Finnish universities Aalto and Hanken, Bulgarian universities and the entrepreneurial ecosystem.

Best practices and accumulated experience from Finland in the development and promotion of innovation and their contribution to economic growth were presented. The creation of regional innovation valleys, which will be connected into a center for the creation and development of innovations based on R&D activities, was also discussed. The initiative aims to provide an opportunity for the commercialization of various developments of high-tech products and services, to support businesses, academic communities and talents in Bulgaria and Finland.

At the invitation of the organisers, Konstantina Voynova, Head of the Equity Financial Instruments Department at the Fund of Funds, participated in the Innovation Nexus programme as a moderator. She took part in the panel ‘Creativity Café - From Individual Success Stories to Ecosystem Capacity’.

Practical discussions were held with a focus on applying the Finnish model of innovation adoption in Bulgaria. According to Minister Milena Stoycheva, there is a developed entrepreneurial culture in Bulgaria, a growing number of startups in the technology sector and in biotechnology. According to recent Eurobarometer data, Bulgaria ranks first in the willingness and readiness of young people to start their own business.

Image source: Ministry of Innovation and Growth