The Innovation Fund approved EUR 11.3 M for 55 Serbia innovative projects
The Innovation Fund, with the support of the Ministry of Science, Technological Development, and Innovation, Ministry of Finance and the European Union, continues to play a key role in strengthening innovation capacities and enhancing the growth of small and medium-sized enterprises in Serbia.
In the second phase of the IPA project “Increased innovation capacity and growth of SMEs”, the Innovation Fund has approved financial support amounting to EUR 11.3 million for 55 projects of innovative companies. The evaluation of 333 received applications resulted in support for 40 projects under the Mini Grants Program, 7 under the Matching Grant Program, and 8 under the Collaborative Grant Scheme Program. The innovative projects are supported with grant funding, and the Fund will also provide expert support to businesses to help them realise their full potential.
The joint efforts of the Government of the Republic of Serbia and the European Union continuously contribute to the development of new technologies, enhancing the competitiveness of domestic enterprises, and driving economic growth. The EU Project, with a total value of EUR 20.6 million, has provided funding for 96 innovative projects through two public calls for proposals. Significant results and successful commercialisation of new products, services, and technologies are anticipated in the coming period.
Based on established statistics, the second public call for proposals has seen a dominance of innovations across various sectors from major cities in Serbia, focusing specifically on the IT sector. Innovations in the IT sector accounted for 67% of the total number of approved projects, indicating a strong focus on digital solutions and the development of advanced information technologies. Conversely, a significant number of projects are directed toward innovations in mechanical engineering, electronics, and energy efficiency. Our companies are dedicated to developing innovative solutions that will enhance production processes, reduce energy consumption, and reduce environmental impact.
Strategic investments in innovation and the competitiveness of small and medium-sized enterprises shape a dynamic and innovative economic environment, aiming to make the most of innovation’s potential on the global market and raise the quality of life of all citizens.
Review of approved innovative projects
Collaborative Grant Scheme Program
Direct Grant – Increased innovation capacity and growth of SMEs is signed between the Innovation Fund and Ministry of Finance – the Department for Contracting and Financing of EU Funded Programs (CFCU) provides funds for the continuation of Mini Grants Program, Matching Grants Program and Collaborative Grant Scheme Program.
The total budget of the Direct Grant Agreement is EUR 26 million, of which EUR 16 million is from the European Union Pre-Accession Assistance for 2019 (IPA 2019) and EUR 10 million is from the budget of the Republic of Serbia, under the Ministry of Science, Technological Development and Innovation.
The amount allocated for financing approved projects under the Mini Grants Program, Matching Grants Program and Collaborative Grant Scheme Program financed under this Direct Grant Agreement is EUR 20.6 million. More about the project can be found on http://www.inovacionifond.rs/
