In the current era of rapid technological development, innovation is considered crucial for a stable and knowledge-based economy. Serbia has been quick to realise this and in 2011 launched “The Innovation Fund” to promote innovation in the fields of science and technology.
Instrument for Pre-accession Assistance (IPA)
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A key component of this Fund is the capacity building “Innovation Serbia Project”, which is funded by the European Union’s pre-accession funds and was set up in 2011. This project is supporting Serbia’s emerging innovative entrepreneurial sector and is filling in the gaps that will prove vital for the country’s longer term, economic growth prospects.
UNIQUE OPPORTUNITIES FOR START UPS
Innovation Serbia Project has two financial instruments that are helping Serbia’s budding entrepreneurs realise their potential.
The first is the “Mini Grants Program” which provides grants of up to €80 000 for essentials like prototype production, proof of concept, intellectual property protection and business plan preparation.
The second is the “Matching Grants Program” that ofers grants of up to €300 000, enabling micro and small companies to partner with the private sector and R&D organisations. This programme also helps to attract investors with the ultimate aim of bringing innovative products and services to the market.
In 2012, €2.77 million was awarded to 25 pro- jects from over 200 applications. One “awardee” is the hydrodynamics company “BSK” LLC Obrenovac that is developing a unique and innovative technology of air harvesting of fruits.
Once commercialised, the “Air Berry Harvester” will imitate windy conditions when harvesting fruit from plants. The technology will pick only the ripest berries from the plant’s branches through intermittent yet controlled bursts of air – a unique and innovative process that will avoid both contact and damage to the fruit.
“The Matching Grants Program will help us to address the significant financial investment associated with the development of the product and the high cost of translating our research into a commercially viable product,” said Milan Kecman of “BSK” LLC Obrenovac. “It will also help us to develop our R&D activities, establish valuable collaborations and crucially, attract investors.”
“These sessions are a great opportunity for Serbian entrepreneurs to learn about international best practices and to discuss with prominent experts their specific issues in building new innovation-based businesses,” said Ms Ljiljana Kundakovic PhD, Interim Managing Director of the Serbian Innovation Fund.
LEARNING FROM THE EXPERTS
Besides providing much needed funds, various “Enterprise Training Sessions” have taken place and brought together grant awardees with the Innovation Fund advisors and international experts to discuss the best ways to develop and commercialise innovative products and services.
The World Bank will also provide assistance regarding technology transfer and commercialisation among selected research institutes. This it will do in cooperation with the Ministry of Education, Schience and Technological Development of Serbia.
PROJECT DETAILS – The Innovation Fund in Serbia
Partners:
Ministry of Education,
Science and Technological Development, Serbia
Innovation Fund, Serbia
Total cost in €: 9 million
EU Contribution in €: 8.4 million (93.33 %)
Start date: December 2011
End date: November 2014
Results: Grants to start ups, new innovations,
economic growth
Techniques: Workshops, training, media outreach,
other events
Website: http://www.innovationfund.rs
