Innovative companies in Bulgaria will receive approximately €210 million in funding in four strategic areas such as scaleup financing; technology transfer (fintech, artificial intelligence/AI, quantum computing and space technologies); defense and dual use technologies and infrastructure (energy, transport and digital infrastructure) under the EU program named Joint European Resources for Micro to Medium Enterprises (JEREMIE), which aims to improve the entrepreneurial environment and sustainable economic growth in Bulgaria. The European Investment Fund (EIF) will manage the program for Bulgaria until 2035. To date, the EIF has invested over EUR 1.6 billion in the form of equity investments, loans, and guarantees through JEREMIE Bulgaria, increasing the initial 350 million EUR from EU structural funds by approximately five times.
This became clear on April 14 during a conference under the title “JEREMIE Bulgaria: A New Chapter”, organised by the Ministry of Innovation and Growth and the EIF, which is part of the European Investment Bank (EIB) Group. Over the past 15 years BOYANOV & Co. played a significant structural and enabling role in the development and diversification of financial instruments in Bulgaria. Its contribution could be understood across several interconnected dimensions: transaction structuring, legal innovation and a bridge to international finance. Based on this impressive experience, BOYANOV & Co. will continue to work for its clients under the new JEREMIE Bulgaria Investment Strategy.
Participants in the event included Prime Minister Andrey Gyurov, Vice-President of the European Investment Bank (EIB) Marek Mora, and Chief Executive Officer of the European Investment Fund (EIF) Marjut Falkstedt.
“The new investment strategy will improve the entrepreneurial ecosystem and the sustainable growth of the Bulgarian economy,” said Prime Minister Andrey Gyurov. “We are not just financing startups – we are building enterprises, technologies, and infrastructure of strategic importance for Bulgaria and Europe. JEREMIE gives us the opportunity to retain our talent and intellectual potential in Bulgaria,” he added.
“Together with our partners in Bulgaria, we are committed through the EIF to supporting Bulgarian entrepreneurs, innovators, and creators of high-value jobs,” said EIB Vice-President Marek Mora. “JEREMIE shows that when EU resources are used strategically and professionally, they can have a lasting impact on businesses and the economy as a whole.”
“JEREMIE helped position Bulgaria as a leader in the market-oriented use of EU funds and contributed to a dynamic system of venture capital and private equity funds,” said EIF CEO Marjut Falkstedt. “We will continue to ensure that resources are directed to the most promising projects developing innovative technologies and solutions that drive innovation, digitalisation, and sustainable growth,” she stated.
Bulgaria will be the first country in Central and Eastern Europe to participate in the flagship pan-European EIF initiative European Tech Champions.