Innovation Vouchers

The aim of the Innovation Vouchers scheme is to financially incentivise SME to collaborate with R&D institutions thereby engaging in innovation and making their products more competitive on the market.

Innovation vouchers

Innovation vouchers are a simple financial incentive that enables micro, small and medium-sized enterprises to use the services of the scientific research sector to raise the level of innovation of their products and become more competitive in the market. They are intended for companies that need the services of scientific research organizations to solve technical/technological problems they encounter in their business, or for the transfer of scientific, technological or innovative services that are new to the company.

Amount of funding:

  • up to RSD 800,000 per individual innovation voucher, ie. 60% of the total cost of the service, excluding value-added tax (VAT)
  • at least 40% is provided by the applicant from other sources independent of the Fund.

One applicant can be granted several innovation vouchers in the total maximum amount of 2,400,000 dinars.

Conditions for competition:

For the applicant

  • micro, small and medium enterprises established in accordance with the currently valid Serbian law on companies and registered with the Business Registers Agency
  • based in Serbia
  • majority privately owned (51%)

For the service providers

  • scientific research organizations from the public sector registered in Serbia (minimum 51% directly or indirectly state-owned)
  • scientific research organizations accredited to perform scientific research activities by the Ministry of Science, Technological Development and Innovation (including those in private ownership).

The list of accredited scientific research organizations is available at:

Funded services:

  • Development of new or improvement of the existing products (in terms of functions and quality), processes or services;
  • Proof of concept;
  • Feasibility study;
  • Production of laboratory prototype;
  • Development of a demonstration prototype;
  • Different types of testing (in the laboratory, in the pilot plant);
  • Technology validation;
  • Validation of new or improved products, processes or services;
  • Advisory services related to innovation;
  • Development and introduction of special software for the product or process (within the development);
  • Techno-economic analysis related to the service provided. A maximum of 20% of the value of the innovation voucher can be planned for these purposes;
  • Specific professional training related to the development of a technological solution. A maximum of 20% of the value of the innovation voucher can be planned for these purposes.

Voucher validity: 6 months from the date of signing the Agreement on awarding and using the innovation voucher

Application process: The entire application procedure takes place through the Internet portal of the Fund.

You can download the forms on the Documentation page.

The awarding innovation vouchers take place in the order of receiving applications, starting from the day of publishing the public call and within seven working days from the day of submission of the application.

Funding through the Innovation Voucher Program is aligned with the Smart Specialization Strateg, which focuses on four priority areas:

  • Food of the future;
  • Information and communication technologies;
  • Machines and production processes of the future;
  • Creative industries.

A minimum of 70% of the available budget of the Fund for an individual public call will be allocated to projects belonging to the above areas, while the remaining maximum of 30% will be allocated to projects from all other areas.

Program Conditions: detailed in the Guidelines.

Public call: Open





Funds for the implementation of innovation vouchers have been provided from the budget of the Government of the Republic of Serbia.