Seventh Framework Program of EU and Its Role for the Innovation Development

The main objective of the paper is to analyze the role of the Seventh Framework Programs of EU on scientific studies, technological development and demonstration activities (2007-2013) for the development of the innovations in Europe, for increasing the productivity of the enterprises and of their innovation and absorption capacity. For this purpose first the paper studies the contemporary negative trends in the development of the European economy under the influence of the global financial crisis and the current debt crisis in the Euro Zone, as well as the problems and challenges they set to the implementation of “Europe 2020” strategy. Second, the paper analyzes the Seventh Framework Programme and its contribution to the development of the innovations in the EU. Particularly significant is insuring financial support for the small and medium-sized business on the programme, the areas, schemes and mechanism they are done in practice, and their role for increasing the innovation capacity of the enterprises. The place of Bulgaria in this process is also a subject of study in the paper, considering the fact that on one hand, the small and medium-sized enterprises (SME) are dominating part of the production in the country, and on the other hand, these enterprises need a significant increase of their potential for developing and introducing innovative decisions.