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SERBIA AND EU FOR INNOVATION: A NEW SUPPORT PACKAGE OF EUR 26 MILLION

Today, the partnership between the Government of the Republic of Serbia and the Delegation of the European Union to Serbia was on full display during the "EU Opportunity Week" event, dedicated to innovation and support for innovative entrepreneurship in Serbia. At the ceremony "Focus on Innovation", the Innovation Fund, as a key partner, assembled actors of the innovation ecosystem who contribute to improving the economic development of Serbia.

Emphasizing the importance of joint investment between Serbia and the European Union, the Innovation Fund announced during the ceremony a new grant package of EUR 26 million for the development of new products, services, and/or technologies of innovative companies, as well as to present 114 new innovative projects that were previously supported with EUR 20 million.

Today the Fund's new public call for proposals is launched worth EUR 10.3 million, open to innovative companies in Serbia to apply for grants. The Call for proposals is intended for micro, small and medium-sized companies, as well as consortium composed of private companies and scientific research organizations. Applications for innovative projects are available through the Fund's portal until September 15, 2023, at 12pm (noon). The Innovation Fund through its programs (Mini Grants, Matching Grants, and Collaborative Grant Scheme), awards grants ranging from up to EUR 120,000 and up to 500,000 per project, depending on the program.

The day dedicated to innovation within the "EU Opportunity Week" began with information sessions on the topic of the Innovation Fund's support programs and a panel discussions on the future of research, development and innovation. This was followed by the Forum Theatre "Innovation=Facing the Challenges" which used an interactive show to evoke the experience of young entrepreneurs on the journey from idea to realization, with the support of the Fund. The dynamic performance was organized with the aim of encouraging creative thinking and overcoming obstacles while building an innovative business from scratch.

The ceremony concluded with the Innovation Exhibition, which showcased innovative products from the following companies: Coming - Computer Engineering, Zanus, Smart Watering Solutions, Avantech Electronics, NovelIC, Anoris Technology, Pirate Art Studio, Farmbot, Charge&GO, GapApp, and ZenHire.

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IPA 2019 project: The Direct Grant Agreement - Increased innovation capacity and growth of SMEs, signed between the Innovation Fund and the Ministry of Finance (Department for Contracting and Financing of European Union Funded Programs - CFCU), provides funds for the continuation of the implementation of the Mini Grants Program, Matching Grants Program, and Collaborative Grant Scheme Program.

The total value of the Direct Grant Agreement is EUR 26 million, of which EUR 16 million is obtained from the European Union Pre-Accession Assistance for 2019 (IPA 2019), and EUR 10 million from the budget of the Republic of Serbia, allocated to the Section of the Ministry of Science, Technological Development and Innovation.

The first public call worth EUR 10.3 million within this EU project was officially launched by the Fund on Wednesday, June 21, 2023. The deadline for submitting proposals for innovative projects is September 15, 2023.

IPA 2018 project: The Direct Grant Agreement - Increased innovation capacity and technological readiness of SMEs signed between the Innovation Fund and the Ministry of Finance (Department for Contracting and Financing of European Union Funded Programs - CFCU), provides funds for the continuation of the implementation of the Mini Grants Program, Matching Grants Program, and Collaborative Grant Scheme Program.

The total value of the Direct Grant Agreement is EUR 20 million, of which EUR 15 million is obtained from the European Union Pre-Accession Assistance for 2018 (IPA 2018) and the amount of EUR 5 million from the budget of the Republic of Serbia, allocated to the Section of the Ministry of Education, Science and Technological Development - now the Ministry of Science, Technological Development and Innovation.

As part of the project Increased innovation capacity and technological readiness of SMEs for the development of new products, services and/or technologies, the Fund supported 114 innovative projects with EUR 18 million, which contributed to the development of individual successful companies and national economic growth.