Smart Start
The goal of the Smart Start Program is to provide financial and mentoring support to promising teams seeking to embark on their entrepreneurial journey and transform innovative business ideas into viable solutions. Through the development of a first prototype or minimum viable product (MVP), teams have the opportunity to validate their proposed solution, demonstrate its value, and assess its market potential, laying the foundation for further technological and business development and commercialization.
The Program primarily focuses on the development and market validation of innovative products, services, and technologies. Research activities may form an integral part of solution development but should not constitute the primary objective of the project.
Program beneficiaries have access to financial and mentoring support aimed at product development and validation, market research and validation, development of a sustainable business model, and preparation for the next stages of growth and fundraising. The Innovation Fund may also organize specialized workshops, subject to the needs and available resources of the Program, to provide beneficiaries with additional support in planning their activities and further developing their startup companies.
Financial Support
- Maximum amount of financing per project: up to 5,400,000 RSD
- Fund’s participation: up to 90% of the total project budget (excluding mentoring support costs)
- Applicant’s participation: a minimum of 10% of the budget, in cash, from private sources independent of the Fund (non-financial contributions are not eligible)
- Additional funds for mentorship support: 600,000 RSD
Eligibility
Teams of 2 to 5 members are eligible to apply if they meet the following conditions:
- At least 51% of team members must be residents of the Republic of Serbia.
- At least 51% of team members must not hold shares in other business entities in Serbia.
Obligations after the approval of financing
After the approval of financing, Applicants are required to:
- establish a limited liability company (LLC) in accordance with the Law on Companies;
- ensure that at least 51% of the proposed team members are co-founders, who at the same time must be 100% owners of the new company;
- the founders of the new company are residents of the Republic of Serbia, who do not hold shares in other business entities, and none of the co-founders may be the legal representative of any other company, regardless of ownership status.
Examples of founder structure
- Team of 2 members → both must be co-founders
- Team of 3 members → at least 2 co-founders
- Team of 4–5 members → at least 3 co-founders
The legal representative must be one of the founders.
Restrictions
- A team member may participate in only one application and be engaged exclusively in one project within any of the Fund’s programs.
- Applications that include team members already engaged in other Fund projects are not permitted.
Project Duration
Projects under the Smart Start Program may last a minimum of 6 and a maximum of 9 months.
Areas of Support
The Fund considers projects from all scientific and technological fields, as well as from various industrial sectors, with a focus on the priority domains of Serbia’s Smart Specialization Strategy.
At least 50% of the Fund’s available resources under this public call will be allocated to projects from the abovementioned priority domains, provided that the submitted applications are of appropriate quality.
Necessary documentation
The complete set of necessary documents can be downloaded the following page: Documentation (September 2026).
Applications are submitted via the Fund's internet portal in English.
Public call: Open until November 16, 2026, at 12:00 (noon).
Portal registration Deadline: November 13, 2026
Contact: smartstart@inovacionifond.rs
Presentation of the Smart Start Program