Cybersecurity Funding: 4 Million BGN for SMEs

A total of 63 enterprises will receive non-repayable funding of nearly 4 million leva to enhance their cybersecurity. This became clear after the completion of the procedure for supporting the improvement of cybersecurity in small and medium-sized enterprises, announced the Ministry of Electronic Governance (MEG). The event comes against the backdrop of increasing threats in the digital space, which affect both large corporations and small and medium-sized businesses.

The procedure is implemented by the MEG in its capacity as the National Coordination Center (NCC-BG). Funding is provided both by the "Digital Europe" 2021-2027 program and from the budget of the ministry itself. This partnership demonstrates the multi-source approach adopted to ensure cybersecurity.

The main goal of this initiative is to support micro-, small and medium-sized enterprises in Bulgaria in implementing modern solutions for protection against cyber threats. The ambitions of the project are high – it aims to increase the resilience of businesses in the digital environment, to reduce the risk of cyber incidents and, last but not least, to improve the competitiveness of Bulgarian companies. This is a key moment for the development of the digital economy in the country.

The results of the evaluation of the project proposals have already been published in the Information System for Management and Monitoring of Funds (ISUN) of the EU in Bulgaria. Anyone interested can get acquainted with them and follow the development of the projects.

Back in June, it became clear that small and medium-sized enterprises could apply for financial support, reaching up to 120 thousand leva, for the protection of their cybersecurity. This specific amount shows the government's commitment to supporting businesses in the critical sector.

The project provides for the improvement of existing or the implementation of modern cloud-based, locally-based hardware or software solutions for cybersecurity, the ministry also announced. This shows a clear focus on current trends in cyber protection and the desire to apply the best practices.