New IF support program
Are you developing a prototype? Do you need funds? The Innovation Fund has launched a new support program for encouraging teams and micro-enterprises trying to prove that they are on the correct path to market position.
The Smart Start program aims to create a prototype or a minimally viable product. Through this program, the IF provides financial and mentoring support in the first phase of market research, product development, establishing a business model, and beginning preparations for the next phase of fundraising. Individual project grants of up to EUR 30,000 are available to teams and micro-enterprises. The IF funding cannot exceed 90% of the total budget of the project being applied for. In addition, grants of up to EUR 5,000 have been made available for the use of mentoring.
Applying to participate in the Smart Start program is simple, you need to fill out the application form and submit a three-minute video that is a short presentation of the concept of the product or service and team members.
Project applications from all fields of science and technology, as well as any industrial sector, are due by February 22, 2022, at 3 p.m. via the IF portal, and all necessary documentation can be found on the IF website.
The IF is constantly working on new mechanisms to encourage and develop innovation, and new mechanisms are made available to the economy or science almost every year. A total of one million euros was allocated from the Ministry of Education, Science, and Technological Development's section for the support of young teams and companies, thanks to funds from the national budget.