Serbia and the EU for Innovation
MASTERING MARKET VIA INNOVATIONS
Based on the second Public Call for funding programs, within the project Increased innovation capacity and technological readiness of SMEs, the Innovation Fund granted EUR 6 million for the 38 innovative SMEs projects. Significant financial support, from EUR 80,000 to EUR 300,000 per project, was provided thanks to the continuous cooperation of the Republic of Serbia and the European Union in the field of innovation development.
After evaluating 248 innovative projects, applied in this cycle of funding, the Innovation Fund approved the financing of 24 projects within the Mini Grants Program, 8 projects within the Matching Grants Program and 6 projects within the Collaborative Grant Scheme Program. A large number of innovative projects came from Belgrade, followed by projects from Novi Sad and Kragujevac.
The development of software and applications, especially artificial intelligence, dominates in this cycle as well as in the previous cycle of funded projects. The purpose of the majority of the projects is to improve the quality of life through various savings, prevention, process automation, digital transformation and smart production in the fields of medicine, agriculture, robotics, transport, etc.
Through the current implementation of the project Increased innovation capacity and technological readiness of SMEs designed for the development of new products, services, or technologies, the Innovation Fund has supported 90 innovative projects with a total value of EUR 15 million. All these projects simultaneously work on the development of individual business success and national economic growth.
The third Public Call for funding programs of Innovation Fund is announced for the fall of this year, when teams and enterprises will get a new opportunity to present and market their innovations.
The Innovation Fund congratulates the winners and wishes them success in the implementation of innovative projects.
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 Education, Science and Technological Development.
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/