On June 20, 2024, with the support of the Municipality of Ruse, the informational event "The Path to Success: Financing and Innovations for Business in Ruse" was held. Organized by the Ruse Chamber of Commerce and Industry in collaboration with the Fund Manager of Financial Instruments in Bulgaria EAD (Fund of Funds), the event attracted a wide range of participants, including representatives of small and medium-sized enterprises, financial intermediaries, scientific institutions, and banks.

The purpose of the event was to inform participants about financing opportunities for the 2021-2027 program period and to provide a platform for dialogue and exchange of experiences. Experts from the Fund of Funds, Rosen Yordanov and Kristina Stoyanova, presented key financial instruments and funding opportunities.

The Fund of Funds has BGN 2 billion in public resources for the current program period, intended to support various projects in business and society.

Key points from the presentation included:

1. Funding Priorities for 2021-2027
   • Innovation and Growth: €356.9 million to promote research and innovation, digitalization, and sustainable growth.
   • Circular Economy: €288.7 million for projects related to energy efficiency and resource efficiency.
2. Financial Instruments
   • Equity Funds: "Innovation in Enterprises" fund with a budget of €34.1 million and "Nurture I4.0" high-risk digitalization project fund with a budget of €52.3 million.
   • Debt Instruments: Instruments for energy efficiency and resource efficiency with budgets of €133.3 million and €155.4 million, respectively.
3. Blended Financing
   • The possibility of combining grants and financial instruments in single operations.

The event concluded with an interactive Q&A session where participants discussed various aspects of financing, including:

• Role of Financial Intermediaries: Participants were interested in the roles and responsibilities of financial intermediaries in the financing process.
• Funding for Research Projects and Innovation: Participants discussed opportunities for funding research and innovation, including application conditions and project evaluation criteria.
• Opportunities for Small and Micro Enterprises: Special attention was given to specific financial instruments for small and micro enterprises.
• Readiness of Banks and Financial Intermediaries: Questions were raised about the readiness of banks and financial intermediaries to manage and disburse financial resources through various instruments.

Conclusion

The event "Path to Success: Financing and Innovations for Business in Ruse" was held with the support of the Municipality of Ruse. The event not only provided valuable information and networking opportunities for the participants but also significantly contributed to the development of the city's investment potential. At a later stage, the Ruse Chamber of Commerce and Industry will work to organize a specialized meeting-discussion with representatives of banks and financial intermediaries to facilitate business access to necessary financial resources and promote sustainable development and innovation in the region.

We thank all participants for their active participation and interest. We look forward to future events that will facilitate access to necessary financial resources for businesses and promote sustainable development and innovation in the region.

For those who could not attend or wish to learn more about the presented information, we provide the opportunity to download the Fund of Funds presentation from the link below:

[Download the presentation]