The Innovation Fund published today a public call for grants for the development of innovative products, services and technologies through the Mini Grants Program and Collaborative Grant Scheme Program.

Under the Mini Grants Program, the Fund can award up to EUR 80,000 per project. Eligible applicants for this program are micro and small enterprises established in Serbia, in majority private Serbian ownership and not older than five years at the time of application. For the first time starting from this public call, teams can also submit an application, and these teams will be required to formally incorporate as a company only if their project is approved for financing. Financing awarded by the Fund covers a maximum of 70% of the total eligible project costs, up to 12 months in duration.

The Collaborative Grant Scheme Program awards financial support of up to EUR 300,000 per project, and the beneficiaries are consortia made up of at least one private micro, small or medium-sized enterprise established in Serbia and one public accredited scientific-research organization. This support enables consortia to realize joint projects to create high-value products, services, technologies and technological processes through applied research and development. The financing awarded by the Fund covers a maximum of 70% of the total eligible project costs for micro and small enterprises, or 60% for medium-sized enterprises. Projects can last up to 24 months.

Applications for both programs need to be submitted through the Innovation Fund's portal until December 31st, 2019 by 3 pm, and all required documentation is available on the Fund's website.

This public call is being funded with six million euros from the budget of the Republic of Serbia, from assets dedicated to the Ministry of Education, Science and Technological Development, and through the "Serbia Competitiveness and Jobs Project" (under the Loan Agreement between the Republic of Serbia and the World Bank).

Since the beginning of its operations, the Innovation Fund has approved financing in the total amount of EUR 18.6 million for 122 innovation development projects, 330 innovation vouchers and 23 technology transfer projects. More than 1,450 applications of innovative projects were submitted within all public calls.