COMPETITION FOR THE AWARD OF START-AP INNOVATION LOANS TO BUSINESS ENTITIES IN THE FIELD OF ICT

15. March 2016.

The Ministry of Trade, Tourism and Telecommunications issues a public call to interested businesses entities in the field of information and communication technology (ICT) for applying for the allocation of loan resources, start-ups and innovation loans, earmarked in the budget of the Republic of Serbia for 2016.

The allocation of loan resources is carried out in accordance with the Regulation on the allocation and use of loan funds for financing business entities in the field of ICT ( "Official Gazette", No.16/16), which regulates the manner of allocation and use of loan funds for financing start-ups and innovative loans in the field of information and communication technologies.

Start-up loans are awarded to the enterprises that were registered in the previous two years starting from the date of publication of the competition for the allocation of loan resources, while innovative loans are awarded to the enterprises that have been registered for more than two years from the date of publication of the competition for the allocation of loan resources.

Start-ups and innovative loans are granted for the project of developing new or existing products or services in the field of ICT (innovative project).

Eligible to use start-ups and innovative loans are business entities registered with the Agency for Business Registers in the fields of: issuance of other software, computer programming, publishing, computer games, consulting activities within the information technology, running of computer equipment, other services, information technology, data processing , hosting, websites, wireless telecommunications, satellite telecommunications and other telecommunications activities.

Loans extended to entrepreneurs range from 300,000.00 to 1,500,000.00 dinars, while those extended to legal entities range from 500,000.00 to 3,000,000.00 dinars. Repayment period is up to four years, including a grace period of up to one year (as part of the four-year repayment period). The interest rate is 1% per annum, and during the grace period, the interest rate is calculated and accrued to the principal debt).

The deadline for applying for the loans is May 7, 2016.

The competition documents and further information are available on mtt.gov.rs.

Source: Ministry of Trade, Tourism and Telecommunications and the Coordination Body