SERBIA AND EU FOR INNOVATION
EUR 3.5 MILLION APPROVED FOR 27 INNOVATIVE PROJECTS
The Innovation Fund announces the results of the third public call for proposals under the Increasing Innovation Capacities and Technological Readiness of SMEs project (IPA 2018), implemented thanks to funding from the European Union.
A financial incentive of EUR 3.5 million in the form of grants for the development and commercialization of new innovative products, services, or technologies was approved for an additional 27 innovative projects by Serbian companies. The Fund's Expert Committee, after evaluating 180 applications received, approved funding for 20 projects under the Mini Grants Program and 7 projects under the Matching Grants Program.
The third cycle was the final one to complete the first phase of the implementation EU project, which included promoting and carrying out three cycles for fund allocation. The monitoring of the company's approved innovative projects is the primary concern of the next phase.
The EU project, worth EUR 20 million and executed through the Fund’s support programs, ensured the financing for a total of 114 innovative projects that are likely to lead to successful commercialization in the near future.
The third public call, like the first two, was dominated by innovations in the IT sector (56%), food industry (15%), and by energy efficiency and natural sciences, with 11% each. The most of the applications came from teams and companies from Belgrade, Novi Sad, Niš and Sombor.
Our innovative companies offer a range of cutting-edge solutions with great growth potential that keep up with current global trends, improve quality of life significantly, and contribute to the general expansion of the knowledge-based, innovation-based Serbian economy.
Direct Grant - Increased innovation capacity and technological readiness 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 Project is EUR 20 million, of which EUR 15 million from the European Union Pre-Accession Assistance for 2018 (IPA 2018) and EUR 5 million from the budget of the Republic of Serbia, the line of Ministry of Science, Technological Development and Innovation.
The amount allocated for the financing of approved projects under the Mini Grants Program, Matching Grants Program and Collaborative Grant Scheme Program financed under this Direct Grant Agreement is EUR 18 million. More about the project can be found on http://www.inovacionifond.rs/