Support for business in Ruse: Information event on financing and innovation
On June 20, 2024, the Ruse Chamber of Commerce and Industry organized an information event entitled "The Road to Success: Financing and Innovation for Business in Ruse". The event was dedicated to the funding opportunities during the 2021-2027 program period provided by the Fund of Funds (FNF). Experts from the Fund of Funds, Rosen Yordanov and Kristina Stoyanova, presented the financial instruments that the Fund offers as funding opportunities.
The theme "Financial instruments to support business" attracted a wide range of participants, including representatives of small and medium-sized enterprises, financial intermediaries, scientific institutions and banks. The main purpose of the event was to inform the participants about the available financial instruments and the conditions for application, as well as to provide an opportunity for dialogue and exchange of experience.
The Fund of Funds has BGN 2 billion of public resources for the current program period, which are intended to support various projects in business and society.
The presentation focuses on the following key points:
- Funding priorities for 2021-2027
- Innovation and growth: €356.9 million to promote research and innovation, digitization and sustainable growth.
- Circular economy: €288.7 million for projects related to energy efficiency and resource efficiency.
- Financial instruments
- Equity funds: The Enterprise Innovation Fund with a budget of €34.1 million and the Nurture I4.0 High Risk Digitization Project Fund with a budget of €52.3 million were presented.
- Debt instruments: Including energy efficiency and resource efficiency instruments with budgets of €133.3 million and €155.4 million respectively.
- Blended financing
- Possibility of combining grants and financial instruments in single operations, which facilitates access to the necessary financing for the projects.
For those who were unable to attend or wish to learn more about the information presented, we provide the opportunity to download the presentation of the Fund of Funds from the link below:
The event also included an interactive question and answer session that took place after the keynote presentation. The participants were interested in different aspects of the funding, with the main questions focused on:
- The role of financial intermediaries: Participants wanted to understand what the specific roles and responsibilities of financial intermediaries are in the financing process and how they can facilitate access to financing for various projects.
- Funding of scientific projects and research: Particular interest was shown in the possibilities of financing scientific research and innovation, including the conditions for application and the criteria for evaluating the projects.
- Opportunities for small and micro enterprises: Representatives of small and micro enterprises asked for more information about the specific financial instruments that are intended for them and how they can take advantage of these opportunities, including possible preferential conditions.
- The readiness of banks and financial intermediaries: Questions were asked about the readiness of banks and non-bank financial intermediaries to manage and allocate financial resources under the various instruments. The idea of organizing a separate event in which representatives of the banks could meet with potential beneficiaries to discuss opportunities for cooperation caused particular interest. RTIK is committed to organizing and holding such a meeting at the moment when the financial agreements between the individual parties are signed.
Conclusion
The event "The Road to Success: Funding and Innovation for Businesses in Rousse" was a success and provided valuable information and networking opportunities to the participants. Rousse Chamber of Commerce and Industry continues to work hard to support local businesses and provide information on new financing and development opportunities. We look forward to organizing future events that will facilitate business access to the necessary financial resources and promote sustainable development and innovation in the region.
We thank all attendees for their active participation and interest, and we will continue to provide platforms for dialogue and collaboration between the various stakeholders.
