The first Business incubator center in Serbia should be put in operation in Knjaževac at the end of February or in the beginning of March 2005. Its aim is to back development of local business and opening of new posts. The center will also deal with establishing of business relations between companies, local authorities and non-government sector, education and provision of help to existing small and medium-size enterprises, as well as giving support to self-employment in Municipality of Timok.
Future Business Incubator Center will be located in one of the production halls of Knjaževac-based Factory of Motor-cultivators IMT on surface of 1,000 square meters.
Business Incubator Center will provide mentors for each company during the first 6 months of their existence, free access to internet, cheaper bookkeeping and consulting services for design of business plans. It will also organize seminars for managers. Finances for the first phase of the activities of Business Incubator Center in Knjaževac were, so far, provided by Open Society Fund, CHF and OEBS, and it is expected that Canadian CIDA will give its contribution too.