Belgrade  –  Domestic companies have a new opportunity to apply to the public call of the Fund for Innovation Activities for non-refundable funds in the total amount of six million euros.

The public call for the Early Development Program and the Innovation Co-Financing Program is open until August 31, 2020 at 3 pm, while the Fund allocates up to 80,000 euros per project to young companies and up to 300,000 euros per project to the already established companies.

Minister of Innovation and Technological Development Nenad Popovic said that startup companies and teams could apply with innovative ideas for grants in the amount of 80,000 euros, while small and medium-sized companies could apply for grants of up to 300,000 euros.

The Minister pointed out that the applications for the public call were submitted on the website of the Fund for Innovation Activities and that the entire procedure was digitized, without the need to submit any paper documents.

Detailed instructions for applying are available on the website of the Innovation Fund.

In the previous public call, the Innovation Fund awarded support for the development of innovations to 35 projects, in the amount of five million euros. 

According to the statement issued by the Fund, 22 projects of young companies and startup teams and 13 joint projects of companies and scientific research organizations were selected during the impartial selection process. 

The supported projects were those that had capable teams, innovative potential, sustainable competitive advantages and clear development plans, as well as sufficient qualities to compete in the international market.

Funds for the development of innovative products, services and technologies have been provided from the budget of the Republic of Serbia, from the Ministry of Education, Science and Technological Development, and through the Project for Improving Competitiveness and Employment (based on the loan agreement concluded with the World Bank).

An overview of all projects supported in the previous public call has been published on the website of the Fund for Innovative Activities.

Source: B92, RTV and Coordination Body