The Applied Research and Communications Fund (ARC Fund) has opened applications for the 22nd "Innovative Enterprise of the Year" contest. Companies have until November 13, 2026 to apply. The contest is open to firms from any sector and any part of Bulgaria and runs with support from the European Commission.

To take part, a company must have launched a new or much improved product, service, technology, process or business model in the past three years. It doesn't matter what stage the company is at — startups and established firms with operations abroad can both apply.

In the application, companies describe the innovation and what impact it has had, whether economic, technological or social. The application form is posted with the fund's announcement.

There are eight categories: market leadership, artificial intelligence and digital transformation, defence and security, quality of life, energy and climate, creative industries, startup and management. Market leadership goes to innovations that are already selling well and could break into international markets. Defence and security covers products that could also be used by civilians. Startup is for young companies with original ideas and fast growth.

Winners get to use the "Excellence in Innovation" mark, awarded to firms that can show real results from the innovations they've brought in. More than 150 Bulgarian companies have won the contest so far.

Winners will be announced at a ceremony in Sofia on January 26, 2027, as part of the 22nd National Innovation Forum. Alongside the forum, there will be an event run by MIT REAP, a global programme run by the Massachusetts Institute of Technology to build competitive regional innovation hubs, which ARC Fund takes part in. This year's forum will focus on how Bulgarian innovation is growing and where it stands in the EU.

The event will also mark 20 years since Bulgaria joined the EU.

Six companies won awards in last year's contest, the 21st edition, held at the end of 2025 at the Sofia Balkan Hotel in the capital, also as part of the National Innovation Forum.