A multifunctional glove for the visually impaired, an educational platform for school-age children, passive fire protection tapes made from recycled raw materials and biomaterials... These are just some of the innovations that companies will develop in the coming period thanks to financial support from the EU and the Government of the Republic of Serbia through the project New Products and Services Developed by SMEs Through Research Commercialization, worth EUR 4,5 million.

At the INNOVATION DATE ceremony held today, the Innovation Fund presented 33 companies that have been approved for innovation development funding under the Mini Grants Program and Matching Grants Program, totalling EUR 4.1 million. Innovative projects for which this funding is approved come from various fields of industries, predominantly from software and applications development for the Internet of Things. Most of the supported companies operate in Belgrade, Novi Sad and Kragujevac.

Minister of Education, Science and Technological Development, Mladen Šarčević, Minister without Portfolio responsible for Innovation and Technological Development, Nenad Popović and Ambassador and Head of the Delegation of the European Union to the Republic of Serbia, H.E. Mr. Sem Fabrici addressed the attendees at the ceremony.

The Minister of Education, Science and Technological Development, Mladen Šarčević, stated that the key for progress is in knowledge, science and innovation. He commented that the public call organized by the Innovation Fund demonstrated a year-on-year increase in interest for innovation support programs.

“Investment into science, education and innovation means investing into our future. I’m certain that you can already recognize the efforts and effects that this government has made. The budget for innovation has been increasing since 2017, and in 2020 we’ve allocated even more resources for the IF and the Science fund,” the minister said.

He also added that the Serbian economy is constantly displaying its innovative potential and readiness to translate innovative ideas into tangible products which are needed on the market.

“Small and medium enterprises are the backbone of every economy and they constitute 90 percent of economic activity in every state. They represent a key factor of economic growth and creation of new jobs. The Government of the Republic of Serbia, with the support from the Innovation Fund, strives to incentivize growth and development of small and medium businesses through implementation of new technological solutions and creative ideas, so that they become real products on the market. Here we specifically refer to the areas of artificial intelligence, robotics, blockchain, and embedded and internet-of-things devices. In this way, by applying innovation and digitalization in small and medium enterprises, but also larger systems, new value is created for the Serbian economy and industry,” stated Nenad Popović, Minister without Portfolio in charge of Innovation and Technological Development.

"The programmes supported by the EU through the Innovation Fund become the backbone of the Serbian knowledge-based economy. This is also true for the science and research sector. The results in front of us are particularly good: the revenue of financed companies increased from EUR 6 million to EUR 20 million in six years (+ 225%), 480 high-end jobs were created, exports increased by EUR 8.4 million, more than 33 national and 25 international patent applications were filed. The EU is proud to have made these results possible," says H.E. Mr. Sem Fabrici, Ambassador and Head of the Delegation of the European Union to the Republic of Serbia.

Supported by the European Union funds from the inception, following their pilot phase, Innovation Fund’s programs have become constantly available support mechanism, thanks to continued financing provided from the state budget through the Ministry of Education, Science and Technological Development. As such, they represent permanent pillar of support for the Serbian knowledge-based economy as well as the scientific and research sector. The European Union's financial support has contributed to the development of private and scientific research sectors in Serbia, particularly in the segment of creating permanent links between the academic and the private sectors.

The Managing Director of the Innovation Fund, Ivan Rakonjac, pointed out: “Small enterprises and the academic community have a partner in the Innovation Fund to help them develop their innovations. The Fund provides financial support with the goal of boosting innovativeness and competitiveness of our economy. Of course, the strong support from the Government, especially the Ministry of education, science and technological development and the European Union, has made it possible for us today to present to the public these innovations which I’m sure will conquer the markets. The Fund will intensify its efforts even further in the following period, with bigger capacities and new programs in accordance with the needs of our users.”





In order to continue financing the Mini Grants and Matching Grants Programmes, the funds were provided from the European Union Pre-Accession Assistance for 2014 (IPA 2014), under the Direct Grant Agreement – „New Products and Services Developed by SMEs Through Research Commercialization“, signed between the Ministry of Finance - the Department for Contracting and Financing of EU Funded Programs (CFCU) and the Innovation Fund.

The implementation of activities under this contract started on December 1, 2018. The total budget of the Project is EUR 4.5 million (2.5 million form EU and EUR 2 million from the budget of the MoESTD). The public call for applications was announced on March 28 and will be open until July 1, 2019.

More about the project can be found on

Since the Fund's operational start in 2011, the European Union support has been instrumental in innovation financing in Serbia and strengthening links between the research and private sectors. The European Union has so far allocated EUR 15.8 million from the pre-accession funds for innovation financing programs.





Project name: Ninox

Town: Belgrade

Industry: Biotechnology and Bioengineering

Description: The Belgrade hardware startup with experience in the US is building an advanced model of glasses with automatically adjusting lenses, designed to help people with presbyopia. The product is based on the company's existing US patents and it is intended for the global market.



Project name: Development of the Next Generation CNC Bending Machines Controlled by 3D Cameras

Town: Kragujevac

Industry: Industrial machines

Description: The engineering team from the city of Kragujevac is focused on creating the next generation CNC bending machines powered by improved 3D camera technology. Besides the innovative features in the machine's design and electronics components, the customers will benefit from more sophisticated and efficient software solutions to ensure high precision bending.



Project name: AURORA 4.0 - Autonomous Robot Radars for Industry 4.0

Town: Belgrade

Industry: Radar, radio and wireless communication

Description: Building from their palette of high tech sensor products over the years, the Belgrade-based hardware company is developing advanced sensors for people detection and autonomous driving of industrial robots. These new sensors are offering significant cost optimization and will respond to some of the biggest challenges of industry 4.0.



Project name: Intelligent broadcast robots

Town: Valjevo

Industry: Robotics

Description: This young and enthusiastic team of robotics and hardware engineers from Valjevo is building a cutting-edge robotic broadcast system for autonomous video production operations. The solution is intended for studios and production companies and can cover various types of content, including high level sports events.



Project name: Research & development of functional gluten-free crackers

Town: Hajdukovo

Industry: Food and health and functional food

Description: The functional and healthy food production company from Hajdukovo is producing a new-formula, organic, vegan and gluten-free crackers. This protein-enriched product is suitable for people that require high quality functional food and healthy diets.



Project name: ExtremeMotion

Town: Novi Sad

Industry: Internet of Things

Description: The Novi Sad enterprise is developing a new motion-sensing device and platform for application in action sports. The platform includes an Artificial Inteligence-powered library for motion and gesture recognition and analytics.



Project name: VR-All-Art

Town: Belgrade

Industry: Software and application development (web and mobile)

Description: The IT company from Belgrade with presence in Switzerland is developing a premium platform for online art showcasing and trading. This new virtual reality-based platform will provide an integrated and widely available digital marketplace for galleries, artists, collectors and museums to showcase, buy and sell art.



Project name: Virtual studio for mixed-reality content (VISMIC)

Town: Belgrade

Industry: Video Data Analysis

Description: This VFX-specialized company from Belgrade is creating a virtual studio for preproduction of storyboarding and visual effects in filmmaking. By allowing for comprehensive pre-visualization of future visual effects and scene setups, this solution is very cost-and-time-effective and particularly suitable for medium-level budget movies.



Project name: Novel solution for effective oral candidiasis treatment

Town: Belgrade

Industry: Food supplements

Description: Using their knowledge in creating multifunctional food products and supplements, Phytonet has set out to produce a new product based on maqui berry that will be used for candidiasis prevention and eradication. The formula will significantly improve therapeutic efficacy of oral antifungal drugs and decrease relapses, while also acting as a prevention agent in cases where oral candidiasis is likely to develop.



Project name: Waste Gas Innovative Economizer

Town: Kragujevac

Industry: Heating and cooling technologies and heat transfer

Description: This Kragujevac manufacturing company is developing a new model of economizer for gas application with significantly improved performance and efficiency. The novel geometry of the product will generate optimizations in size and provide better heat exchange characteristics, along with better reutilization of waste gases which will improve the circular economy model.




Project name: Smart Fire Protection

Town: Kragujevac

Industry: New construction material development

Description: Startup from the city of Kragujevac is developing a new technology for production of passive fire protection ribbons by using recycled and bio-based raw materials. The new cost-effective solution will offer prolonged fire protection, but also reduce the negative environmental impact which is associated with flame protection technologies.



Project name: Mocap Compatible Keyframe Autorig Plug-in - McKap

Town: Belgrade

Industry: Software and application development (web and mobile)

Description: This Belgrade-based company is offering a rigging tool that will enhance the process of 3D animation production for small and medium scale studios. Their plug-in for leading 3D software in the virtual effects industry will enable easier manipulation of motion capture data without increasing production costs.



Project name: Aestetic covers for people with dissabilities

Town: Belgrade

Industry: Medical and therapeutical devices

Description: By using 3D technologies and photogrammetry, this Belgrade startup is offering cost-effective aesthetic covers for prostheses for lower extremities. Through combination of 3D printing and specific design, the new technology will provide а positive impact on the social integration of people with disabilities.



Project name: Digital Retail Sales Manager

Town: Belgrade

Industry: Software and application development

Description: Boostowski is offering an app for advanced training of retail salespersons. With a new methodology behind performance assessment, establishing of KPIs and improvement of skills, the application is aimed to increase the client’s productivity and sales volume. 



Project name: Stock Studio

Town: Belgrade

Industry: Software as a Service

Description: The Belgrade-based startup is offering a comprehensive Software as a service system for managing of digital content. This will help the users to facilitate and monitor their photo content across multiple platforms.



Project name: Abstract Cyber Forensics

Town: Belgrade

Industry: Software as a Service

Description: This company from Belgrade is developing an AI-powered software solution that will enable brands to improve counterfeiting investigation processes on a global scale. This solution will help users to prevent revenue loss and preserve brand reputation and consumer trust.



Project name: CarSync

Town: Niš

Industry: Software as a Service

Description: CarSync is new, cloud-based platform that will enable its users to make additional income by offering their cars to peers. This solution aims to solve some of the biggest challenges in similar sharing solutions such as: scheduling, communication, operations and metrics.



Project name: Kuc-kuc Smart Lock

Town: Novi Sad

Industry: Internet of Things

Description: The startup from Novi Sad is developing a new smart lock device to be used for easy access to rental apartments and premises. The new solution is based on Internet of Things technologies along with a cloud software infrastructure for access control. 



Project name: Shtreber

Town: Belgrade

Industry: Software and application development

Description: This Belgrade startup operates in the domain of digital education and is now presenting a new multimedia education platform for school age children. This platform combines elements of education, gamification and interactive learning along with tools and methods to increase motivation for learning.



Project name: VideoSpace BestView

Town: Belgrade

Industry: Machine learning

Description: The Belgrade-based startup with business experience in the UK is using artificial intelligence to bring increased quality of streaming videos to the end users. This solution is compatible with already used solutions in this industry and is able to perform in real time due to its high streaming and processing speed.



Project name: Maintenance management system 4.0

Town: Belgrade

Industry: Software and application development

Description: Digital Worx is developing a software solution for completely digitalized information sharing and usage that will enable a manufacturing company's maintenance management team to efficiently lead multiple execution teams in the field. The solution is intended for small and medium industrial customers working within industry 4.0.



Project name: HerbELICO

Town: Belgrade

Industry: Food and health and functional food

Description: The company from Belgrade is developing a new herbal supplement for eradicating antibiotic-resistant Helicobacter pylori infections in humans. The innovative natural formula is based on the mix of essential oils extracted from particular aromatic plants.



Project name: Bioethanol mist burner

Town: Šabac

Industry: Heating and cooling technologies and heat transfer

Description: Startup from Šabac is developing a bioethanol-powered fireplace for indoor use that complies with high safety standards. This eco-friendly solution is used for heat emission, but will also find its use for decorative purposes in home renovation and interior decoration projects.



Project name: Momentum CMMS

Town: Novi Sad

Industry: Software as a Service

Description: This young company from Novi Sad is creating a software solution that will enable easier maintenance and inventory management for healthcare institutions. The system will also allow users to generate error reports, track maintenance schedules and communicate with maintenance service providers.   



Project name: Bioinformatics and predictive analytics software for soil – plant management with near real time prescription tools

Town: Belgrade

Industry: Software as a Service

Description: The Belgrade-based IT-agritech startup is developing new plant management software with real-time prediction and cross analysis features from multiple sources. This software is aiming to solve some of the most frequent problems such as managing soil analyses and generating of high quality plant-soil maps.



Project name: Clash of Chefs World

Town: Alibunar

Industry: Gamification

Description: The team behind Propter from Alibunar is leveraging their rich gaming industry experience and developing a virtual reality game where players compete in food preparation in various cuisines. With new content and alternative gameplay modes, the company aims to position it on the market of family friendly VR games.



Project name: Karate Do

Town: Belgrade

Industry: Gamification

Description: The startup from Belgrade combines gaming expertise and world class karate athletes to develop a mobile game with champion karate athletes as playable heroes. Novel in-game combat mechanics will be developed to simulate real-life karate techniques and scoring. 



Project name: Anora - Smart Glove for Blind People

Town: Belgrade

Industry: Internet of Things

Description: Anoris Technology from Belgrade is developing a multifunctional glove designed to help persons with impaired vision. By offering 8 functions available with one button click, this solution will serve as a wearable assistive device for everyday activities and enable its users to enjoy higher quality of living.



Project name: Ink Cosmetics

Town: Čačak

Industry: Pharmaceutical

Description: Company from Čačak is combining knowledge in pharmaceutics and modern art to develop a new tattoo aftercare product. The formula's flexible polymer film follows the muscle dynamics and provides a layer of physical protection, but also enables controlled release of active components that improve skin healing.




Town: Bečej

Industry: Internet of Things

Description: Startup from Bečej is developing a new sensoring device for application in winegrowing. The solution contains AI-powered data processing capabilities which will help users prevent plant diseases and make timely decision on irrigation, ultimately increasing their yield and reducing losses.



Project name: Cryptic Legends Mobile Game

Town: Belgrade

Industry: Software and application development

Description: This Belgrade-based startup is developing a mobile game inspired by characters from Slavic mythology, and powered by blockchain technology to ensure true ownership of in-game assets. Along with improved strategic and tactical elements, the game also includes collectables and trading hero features.



Project name: SOMA Bioworks Development of biodegradable alternatives to plastic

Town: Belgrade

Industry: Multifunctional materials

Description: The team behind "White Lemur" is focused on applying their skills in the fields of new materials to address the issue of environmental pollution and renewable production. Their solution is a new biodegradable material from agricultural waste, which aims to serve as an eco-friendly substitute for Styrofoam. 



Project name: Smart Sowing Strategy

Town: Novi Sad

Industry: Data Science and Analytics

Description: The ambitious startup from Novi Sad, powered by expertise from the Biosense Institute, is developing a new solution for smart planning of sowing. The solution is based on big data analytics and state-of-the-art algorithms with the aim to increase sustainability and decrease risk of agricultural production.