The second public call of the Innovation Fund for innovative projects is open for three support programs

The Innovation Fund has opened the second Public Call, allocating 10.3 million euros for project funding in the private and academic sectors of Serbia, as part of the IPA project “Increased Innovation Capacity and Growth of SMEs.” Grant support for the development of new products, services, and/or technologies is provided in collaboration with the Ministry of Science, Technological Development, and Innovation, with the support of the European Union.

To unlock innovative potential and gain access to the global market, the Fund provides companies financial assistance ranging from up to EUR 120,000 and up to EUR 500,000 per individual project. The second public call has been announced for three support programs of the Innovation Fund: Mini, Matching and Collaborative Grant Scheme Program.

The Mini Grants Program fosters innovative entrepreneurship and ensures the survival of startups in the early stages of development by providing financial support up to EUR 120,000, with a 70% Fund’s participation of the total approved project budget per each individual project. Project financing is directed towards the development of innovations with commercial potential. Duration of projects supported under the Mini Grants Program can be up to 12 months.

The Matching Grants Program supports the realization of the development cycle of technological innovations for existing and profitable companies. To cover the high costs of transferring research into a commercially sustainable product, high-tech enterprises have access to up to EUR 500,000, with Fund’s participation covering 60% for medium-sized companies and 70% for micro and small companies of the total approved project budget per each individual project.

The Collaborative Grant Scheme Program enhances industrial research by fostering collaborative efforts between the private sector and scientific research organizations. With the aim of creating new or improving existing commercially viable products and services, the Fund allocates up to EUR 500,000 to consortia, with Fund’s participation covering 70% of the total approved project budget for projects proposed by micro and small companies, and up to 60% for projects proposed by medium-sized companies of the total approved project budget per each individual project.

Interested companies can submit innovative project proposals from all fields of science and technology until April 1, 2024, at noon

The application documentation and the application form are available on the Fund’s online portal and in English. Additional information about programs details and propositions will be shared by the Fund at online info sessions every Thursday from 1 p.m.