/ world today news/ “The legislative act on start-ups adopted by a majority in the plenary hall of the European Parliament is not just a matter of economic policy. This is a commitment to the accelerated development of innovations, more jobs and conditions for the EU to be a leader in the world technological market,” said the MEP from the Group of the Progressive Alliance of Socialists and Democrats Tsvetelina Penkova. She pointed out that she worked on this legislation, together with her team, motivated by the need for the European start-up industry to get the support and opportunity to grow that it needs.
“Better conditions are being created, with easier access to financing, easier attraction of private investors, a number of tax reductions, removal of existing regulatory burdens and guaranteeing the rights of employees,” commented Tsvetelina Penkova.
She sees an opportunity to create a favorable environment that will promote market realization, unlock more funding and stimulate the growth of the European and Bulgarian start-up industry, guaranteeing its competitiveness on global markets.
“I talked to many start-ups from Bulgaria, which are prevented from developing their ideas in the EU. This is mainly because of the uncertainty in the judicial system, the lack of procedures and financial mechanisms for the needs of this type of enterprise,” shared Penkova. She noted with regret that often European start-ups are forced to register their start-ups outside the EU in order to be able to access capital markets.
“This is also one of the main reasons for proposing the first European legislation entirely aimed at the start-up sector. With it, we give definition and legal identification to these enterprises, facilitate access to financing and new markets. This is the only way we will keep the talents in Europe”, Tsvetelina Penkova explained her motivation.
“The adopted legislation is a huge plus for Bulgaria. We have given another signal that the European institutions will take concrete actions to support the sector, which provides a new economic opportunity for our country and for the entire Union”, noted the MEP.
“I am honored that our work was appreciated and our efforts will have real added value for European start-ups and our young entrepreneurs!” concluded Tsvetelina Penkova.
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