Business Incubator opened in Novi Sad

The Business Incubator in Novi Sad was yesterday ceremoniously opened by Deputy Prime Minister of the Autonomous Province of Vojvodina and Provincial Secretary for Economy Isztvan Pastor, Novi Sad Mayor Igor Pavlicic, Austrian Ambassador Klemens Koya, and the U.S. Ambassador Mary Warlick.

With the aim of creating favorable conditions for a sustainable local economic development, promotion of economic activities and economic development, as well as reduction of unemployment rate in Novi Sad, the City started the project of formation of the Business Incubator in association with the Faculty of Technical Sciences, the VIP Fund and the public utility company Informatika, with a support from the USAID and the Austrian Development Agency (ADA)

As it was said at the opening ceremony, a total of 12 companies will be situated in the Incubator. In addition to their own offices, these companies will also have a conference hall at their disposal and will also be able to use the services of bookkeeping, legal advising, and protection of intellectual property and the patent right.

Through a support to development of local talent, the Business Incubator helps reduce the failure rate of companies in their early phase of development, and such assistance is provided only in the initial phase of development, after which companies operate independently.

The U.S. Agency for International Development (USAID) participated in financing of this project with about USD 100,000, the Austrian Development Agency (ADA) provided about EUR 25,000, while the AP Vojvodina invested RSD 7.9 million in the project through the Secretariat for Economy.

The address of the Business Incubator Novi Sad is 28 Vojvodjanskih Brigada Street. With a consent from the Republic Directorate for Property and the City Assembly of Novi Sad, that space spanning a total of 418 square meters has been allotted to the Business Incubator Novi Sad to use it for free over the period of seven years.