The company "Bioinovative PUL" was created for the project "Bioinovative PUL: Office for Technology Transfer", financed by the Operational Program "Development of the Competitiveness of Bulgarian Economy 2007-2013". The company is a partnership between "Bioinovative corp." (biotechnological company) and "The Institute of Plant Physiology and Genetics BAS" (research organization). The motive for the unification of the participants is to create and transfer innovative biotechnology in the field of cultivation and different applications of microalgae - producers of products with potential economic and medical importance, as well as other eco and energy-saving technologies and technologies related to health. The participants in "Bioinovative PUL" have the necessary scientific expertise and practical knowledge to implement and transfer innovations in the area of cultured microalgae - medicines, nutritional supplements, bioplastics, biodegradable packaging and many other "green" products and technologies. On 19.09.2012 a grant was signed between the Ministry of Economy, Energy and Tourism and "Bioinovative PUL", which started the actual project implementation.

The project envisages implementation of :

- Element "Investments"

- Element "services", administrative and operational activities 

Results (summarized):

- Realized investment project to create a new Office of Technology Transfer;

- Equipped and functioning office providing a range of services related to the assessment, development, optimization and implementation of innovative technologies and products.

-Tested novel optimizations for microalgae cultivation systems (including a LED-based lighting system for photobioreactors and a DAF-based enrichment of the culture medium with carbon dioxide).

- Developed a vast product portfolio including microalgae derived nutraceuticals, pharmaceuticals, cosmeceuticals and bioplastics.

- Outlined a marketing strategy for microalgae based products.