The Innovation Fund has opened an invitation for the allocation of grants of up to EUR 80,000, or up to EUR 300,000, with an aim of helping the development of innovative companies.
All innovative companies in the private sector may apply for grants of up to EUR 80,000 through the Mini Grants Program, or up to EUR 300,000 through the Matching Grants Program, by August 31.
– The aim of these programs is to stimulate the creation of innovative knowledge-based companies through the founding of startups or spin-off companies in the private sector – the fund says.
Mini Grants Program
Micro and small companies founded in Serbia, with a majority private domestic ownership and not older than five years, as well as teams of no more than five people, may apply for funds within the Mini Grants Program.
The financing provided by the Fund covers a maximum of 70% of the justified costs of the project, which can last for a maximum of 12 months.
The funds are allocated individually, per project, in the amount of up to EUR 80,000.
Matching Grants Program
Financial support of up to EUR 300,000 per project is allocated through the Matching Grants Program, and the beneficiaries are micro, small or medium companies with a majority private ownership, registered in Serbia.
The support enables the development of new products, services and technologies with added value and the stimulation of commercialization of research and development activities in existing innovative companies, as well as the establishment of cooperation/partnerships with international companies/organizations.
The financing provided by the Fund covers a maximum of 70% of the total justified project costs for micro and small companies and a maximum of 60% for medium companies.
Projects can last for up to 24 months.