Application period: July 22 – September 21, 2022.
Total budget: BGN 260 million
Technological Modernization is the first measure launched under the National Recovery and Sustainability Plan and will be implemented by the General Directorate “European Competitiveness Funds” of the Ministry of Innovation and Growth of the Republic of Bulgaria.
The aim of this measure is to increase the efficiency of production processes, to achieve higher productivity, to reduce production costs and to optimize the production chain by providing grants to the Bulgarian SMEs.
The expected effect is to restore the economic potential of enterprises from the period before the COVID-19 pandemic and create conditions for the growth and development of enterprises through digitalization of production processes in order to expand or diversify the activity of SMEs.
Eligible candidates: Funds will be targeted at micro, small and medium-sized enterprises that should meet the following mandatory requirements:
1) To be legal entities or sole traders registered in accordance with the Commercial Act or the Cooperatives Act
2) To be registered no later than 31.12.2019
3) To have realized net sales revenue in total for the last three completed financial years (2019, 2020 and 2021) depending on the category of the candidate enterprise, as follows:
- for micro enterprises >= BGN 210 thousand.
- for small enterprises >= BGN 750 thousand.
- for medium-sized enterprises >= BGN 3 million.
4) To have realized net sales revenue for the 2021 financial year, depending on the category of the candidate enterprise, as follows:
- micro enterprise ≥ BGN 52,000
- small enterprise ≥ BGN 187,000
- medium enterprise ≥ BGN 750,000
5) To perform their main economic activity in one of the following sectors:
- Sector C „Manufacturing“
C10 “Manufacture of food products”; C11 “Manufacture of beverages”; C13 ‘Manufacture of textiles and textile articles, except apparel’; C14 “Manufacture of wearing apparel”; C15 “Treatment of hides and skins; manufacture of footwear and other articles of hairless leather ‘; C16 “Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials’; C17 “Manufacture of paper and paperboard and of articles of paper and paperboard”; C18 “Printing and reproduction of recorded media”; C19 “Manufacture of coke and refined petroleum products”; C20 “Manufacture of chemicals”; C21 “Manufacture of medicinal products and products”; R22 “Manufacture of rubber and plastic products”; R23 “Manufacture of other non-metallic mineral products”; C24 “Manufacture of basic metals”; C25 “Manufacture of fabricated metal products, except machinery and equipment”; C26 “Manufacture of computer and communication equipment, electronic and optical products”; C27 “Manufacture of electrical equipment” C28 “Manufacture of machinery and equipment, general and special purpose”; C29 “Manufacture of motor vehicles, trailers and semi-trailers”; C30 “Manufacture of motor vehicles, except automobiles”; C31 “Manufacture of furniture”; C32 “Manufacture not classified elsewhere “; C33 “Repair and installation of machinery and equipment”
- Sector E “Waste Management and Recovery”
E38 “Collection and disposal of waste; material recycling’; E39 “Reclamation and other waste management services”
- Sector J „Creation and dissemination of information and creative products; Telecommunications”
J58 “Publishing”; J59 “Film and television production, sound recording and music publishing”; J60 “Radio and television activities”; J61 Telecommunications; J62 “Information technology activities”; J63 “Information services”
- Sector М „Professional activities and research“
M71 “Architectural and engineering activities”; M72 “Research and development”
- Purchase of machinery, facilities and equipment representing long-term tangible assets
- Costs for the purchase of software representing a long-term intangible asset, including:
- costs for the acquisition of specialized software;
- costs for acquiring ERP systems, CRM systems and/or MOM/MES systems – up to BGN 50,000.
Percentage of funding: up to 50%
Maximum amount of the grant:
- For micro enterprises – BGN 180 thousand, but no more than 100% of the realized average annual net sales revenue for the three-year period 2019, 2020 and 2021.
- For small enterprises – BGN 350 thousand, but no more than 60% of the realized average annual net sales revenue for the three-year period 2019, 2020 and 2021.
- For medium-sized enterprises – BGN 700 thousand, but no more than 25% of the realized average annual net sales revenue for the three-year period 2019, 2020 and 2021.
Duration of the projects: up to 12 months
If you are interested to apply, contact our team of professionals to guide you through the application process.