GRANTS FOR THE DEVELOPMENT OF INNOVATIVE PRODUCTS, SERVICES AND TECHNOLOGIES

20. November 2019.

The Innovation Fund’s programs - the Early Development Program and the Science and Economy Cooperation Program, which envisage the award of grants for the development of innovative products, services and technologies, were presented at the Serbian Chamber of Commerce. The call for participating in the programs is open until December 31, 2019.

On October 10, 2019, the Innovation Fund launched a public call for grants for the development of innovative products, services and technologies through the Early Development Program and the Science and Economy Cooperation Program. Applications for both programs are submitted through the Fund's portal by December 31, 2019, while all required documentation is available on the Fund's website.

Under the Early Development Program, the Fund may allocate up to 80,000 euros per project, while micro and small enterprises established in Serbia, the greater parts of which are in private Serbian ownership, and which are no older than five years, may apply for the program.

Also, teams that will be obliged to register their companies if their projects are approved for funding are able to apply for the first time. Funding awarded by the Fund covers a maximum of 70 percent of the total eligible project costs, up to 12 months in duration.

The Science and Business Cooperation Program grants financial support of up to 300,000 euros per project, while the beneficiaries are consortia of at least one private micro, small or medium-sized enterprise established in Serbia and one publicly accredited research organization.

The support enables consortia to implement joint projects in order to create high value products, services, technologies and technological processes through the applied research and development. The funding awarded by the Fund covers a maximum of 70 percent of the total eligible project costs for micro and small enterprises, or 60 percent for medium-sized enterprises. Projects can last up to 24 months.

This public call has been funded with six million euros from the budget of the Republic of Serbia, from the Ministry of Education, Science and Technological Development’s amount, and through the "Competitiveness and Employment Improvement Project" (under the Loan Agreement between the Republic of Serbia and the World Bank).

The Innovation Fund has approved 18.6 million euros for 122 innovation-development projects, 330 innovation vouchers and 23 technology transfer projects. Over 1,450 innovative project applications were submitted to all public calls.

Source: Business Morning and Coordination Body