Approved projects through the Proof of Concept Program
The Innovation Fund supported 67 projects of researchers with RSD 153 million within the Proof of Concept Program. Researchers from 32 different scientific research organizations will work on the development of ideas over the next year in order to prove that the research will create a new product that is needed on the market. In addition to the financial support of up to RSD 2,400,000 per project, business support is also available to researchers in order to create a market-oriented product, commercialization strategy and business model as efficiently as possible.
At the public call, 253 projects were applied for, and the largest number of approved applications is from the field of natural sciences, food and agriculture, followed by information and communication technologies and nanomaterials.
International reviewers rated the submitted projects according to criteria that include the strength of the research team, the innovation and feasibility of the proposed concept, the usefulness and potential for commercialization of the product under development and the feasibility of the implementation plan.
Funds for the implementation of the first public call were provided from the budget of the Government of the Republic of Serbia, from the Ministry of Education, Science and Technological Development, and through the “Competitiveness and Jobs Project” (Loan Agreement of the Republic of Serbia with the World Bank).