The Innovation Fund is launching a new mechanism to support technological development and innovation – the Katapult Accelerator. The acceleration program is intended for startups that are in the early stages of product development and market positioning (Ideation), as well as companies with proven market traction that aim to accelerate their growth and raise additional financial resources (Scale-up). Katapult consists of a three-month intensive training program with financial support in order to develop startups as quickly as possible and create conditions for rapid growth. The training is organized through mentoring provided by local and international experts, successful startup founders and investors, and everything is tailored to the specific needs of startups in the accelerator.
Funding through Katapult is available as:
- At-Entry Grant from EUR 20,000 to EUR 50,000 for startups that will participate in the acceleration program
- Co-Investment Grant equal to a qualifying investment of up to EUR 300,000 per startup (less the amount of At-Entry Grant received) that can be utilized over a period of 12-24 months. Participating companies can apply and receive a Co-investing Grant at any time during the acceleration program and nine months after the end of their cycle.
Conditions for application:
- The applicant is a legally registered business entity, not older than six (6) years at the time of applying for the Katapult.
- The applicant is in the private sector (at least 80% privately owned), a micro or small enterprise.
An applicant who meets any of the following conditions is NOT eligible to apply for Katapult:
- The Applicant or its affiliated entity is listed on the stock exchange (Affiliate entity as defined in Article 62 of the Law on Companies).
- The Applicant or its affiliated entity has received financing from any other IF financing program for the same or similar activities.
- The Applicant or its affiliated entity had revenues over EUR 8,000,000 in any of the prior two years.
Industry/sector: Katapult will be open to all innovative companies, with an emphasis on the areas defined in the Smart Specialization Strategy of Serbia.
Required documentation: The complete set of the necessary documentation is available on the Innovation Fund's website
Applications: submitted via the Katapult portal.
Public call: Closed
Web page: https://katapult-akcelerator.rs/
Funds for the implementation of the Katapult program in the total amount of seven million euros by 2024 are provided on the basis of a loan agreement between the Republic of Serbia (Ministry of Education, Science and Technological Development) and the World Bank through the "Serbia Accelerating Innovation and Growth Entrepreneurship Project". Additional technical assistance in the implementation of the program is provided by the World Bank, and is financed by the European Union.