site.btaInnovation Ministry Unveils BGrowth Vision to Transform into National Business Accelerator

The Innovation and Growth Ministry has presented on its official website its BGrowth vision for a comprehensive transformation of the institution from a traditional administration into a modern national accelerator which, according to the Ministry’s press release, will operate at the pace of business and speak the language of business.

The Ministry explained that it is undertaking this transformation in response to the changing external environment and in an effort to guide and accelerate the process of structural change in the Bulgarian economy from a “cheap labour” model to a model based on high value-added products, exports and integration into global value chains.

The goal of the strategic change within the Ministry is to turn Bulgaria into a place “where innovation happens quickly, easily and with state support”, the institution said.

To achieve this, the Ministry said that it will carry out a structural reform so that the institution functions as a single entry point for business; it will speed up administrative processes by shifting from an “administration-centred” to a “user-centred” model; and finally, it will develop new support instruments through a “balanced portfolio of financial and non-financial mechanisms covering the entire life cycle of companies”.

According to information published on the Ministry’s website, the process will begin with three pilot projects.

The first is Startup.bg – a single entry point for start-up companies, aimed at providing comprehensive support to start-ups throughout their entire life cycle, from idea to market realization. The Ministry places particular emphasis on high and deep technologies, as well as on niche markets in which Bulgaria, according to the official information, can be among the leaders.

The second project is Invest.bg – an intelligent navigator for investors, presenting Bulgaria as a smart and reliable destination for nearshoring and friendshoring.

The third project is Breakthrough – a specialized instrument for financing high-risk projects with the potential for radical technological breakthroughs. Its aim is to encourage the emergence and establishment of national technology champions.