NEWS

Rumen Radev: Technological Transfer, Science and Innovation Are Key to the Competitiveness and Future of European Economy

Technology transfer, science and innovation are key to competitiveness and the future of the European economy. This is why both the European institutions and the EU Member States must make the knowledge-based economy a priority. This is what President Rumen Radev said today at the gala event in Munich organised by the European Patent Office, which marked the 50th anniversary of the signing of the European Patent Convention.

In his address, the Head of State highlighted the successful models for economic growth and technology development, which are based on the protection of innovation and intellectual property and create incentives for their subsequent upgrading. These models attract investments, encourage business, create jobs and accelerate growth, Rumen Radev stressed. The President also recalled that the economic contribution of the European patent system is measured by almost 50% of the EU's GDP, as well as by more than a third of the jobs created in the Union.

It is obvious that in order for the European economy to be globally competitive, we need to create incentives for innovation and business, the President stressed. Rumen Radev expressed his support for the efforts of the European Patent Office to build an inclusive and flexible system, aimed primarily at small and medium-sized enterprises and scientists, so that their inventions can be more visible through the patent system. Bulgarian universities, which are at the heart of science and education, should be recognised as active and reliable partners of the European Patent Office, the Head of State further said.

President Radev underlined Bulgaria's ambitions to actively participate in the development of the European patent system and the single market for technology and innovation. This year, a Centre for Intellectual Property and Technology Transfer was established in Bulgaria in partnership with the Bulgarian Patent Office and the European Patent Office, which aims to promote technology transfer and knowledge exchange and strengthen the link between science and business. Rumen Radev also highlighted the recognition that Bulgarian scientists receive through the inscription of their inventions in the Golden Book of the Patent Office during the annual ceremony held at the presidential institution.

As an important step in the regional cooperation in Eastern Europe, the Head of State stressed the importance of digital technologies and innovations. Within the framework of Bulgaria's hosting of the Three Seas Initiative, aimed at boosting regional transport, energy and digital connectivity, this country highlighted connectivity in innovation and research as a priority for the future. Because of this country's initiative, an innovation fund was also established to address the growing need for investment in science, to reduce research costs within individual countries and to contribute to changing the innovation climate across the region.

Head of State Rumen Radev attended the event in Munich at the invitation of the President of the European Patent Office Antonio Campinos. The two will hold a meeting to discuss the possibilities for further expansion of this country's partnership with the European Patent Office in the field of intellectual property, aimed at strengthening the connectivity between science, education, technology and innovation in Bulgaria.