The Innovation Fund opened the second Public Call, allocating EUR 10.3 million for project funding in the private and academic sectors of Serbia, as part of the IPA project ‘Increased Innovation Capacity and Growth of SMEs.
Grant support for the development of new products, services, and/or technologies is provided in collaboration with the Ministry of Science, Technological Development, and Innovation, with the support of the European Union.
To unlock innovative potential and gain access to the global market, the Fund provides companies substantial financial assistance ranging from up to EUR 120,000 and up to EUR 500,000 per individual project. The second public call has been announced for three support programs of the Innovation Fund: Mini, Matching and Collaborative Grant Scheme Program.
The Mini Grants Program fosters innovative entrepreneurship and ensures the survival of startups in the early stages of development by providing financial support up to EUR 120,000, with a 70% Fund participation in each project. Project financing is directed towards the development of innovations with commercial potential.
The Matching Grants Program supports the realization of the development cycle of technological innovations for established companies. To cover the high costs of transferring research into a commercially sustainable product, high-tech enterprises have access to up to EUR 500,000, with Fund participation covering 60%/70% of the total budget for each project.
The Collaborative Grant Scheme Program enhances industrial research by fostering collaborative efforts between the private sector and scientific research organizations. With the aim of creating new or improving existing commercially viable products and services, the Fund allocates up to EUR 500,000 to consortia, with Fund participation covering 60%/70% of the total budget for each project.
Interested companies can submit innovative project proposals from all fields of science and technology until April 1, 2024, at noon. The application documentation and the application form are available on the Fund’s portal. Additional information about programs details and propositions will be shared by the Fund at online info sessions every Thursday from 1 p.m.