Bulgaria is to spend BGN 937.9 million on innovations in 2015, almost twice the amount allocated in 2011, when the expenses for research and development amounted to BGN 429.6 million. The decision is part of the last version of the Innovation Strategy for Intelligent Specialization 2014-2020, which is aimed at determining the distribution of EU funding under the program "Innovations and Competitiveness" in the 2014-2020 programming period, Standart wrote.
Bulgaria's public spending on innovations will total BGN 525.6 million next year, including BGN 275 million through EU funds, BGN 197 million from the state budget and BGN 53.6 million from institutions of higher learning.
Companies and non-profit organizations are expected to spend around BGN 412.3 million on technological innovations in this period.
Source: Invest Bulgaria Agency