The Innovation Fund publishes results based on the first public call for grants under the Smart Start program. For the development of the first prototype or minimal sustainable product, 27 young teams received financial and mentoring support.

The support relates to the implementation of the first phase of market research, product development, the establishment of the business model and the beginning of preparations for the next phase of fundraising. Teams and micro-enterprises have been granted funds of up to RSD 4.2 million for individual projects.

For this type of support, 115 startups/teams have signed up, and the largest number are from information and communication technologies, and from Belgrade.

Development of ambrosia-destroying devices in an ecological manner, modular vertical wind generator for low-power wind exploitation, active cushions for extending food expiration, a prototype of the smart cabin for the application of aerosolized mosquito repellents, and a platform for chess players - are some of the products that will be developed in the coming period thanks to supporting from the Fund.

Thanks to funds from the national budget to support young teams and businesses, EUR 1 million have been allocated from the compartment of the Ministry of Education, Science and Technological Development.

Overview of innovative projects approved for financing