February 14, 2014, Belgrade – The Innovation Fundannounced todaysupport for12innovative projects selected for financing by the Innovation Fund independent international Investment Committee.
To date EUR 6M has been dedicated to support 41 Mini Grants and 12 Matching Grants projects in thecalls for proposals implemented through the Serbia Innovation Project. EUR 8.4M Serbia Innovation Project is financed by the EU Instrument for Pre-Accession Assistance (IPA) funds and administered by the World Bank.
“The support which the EU provides through the financing programs is of great value as it directly influences the efforts made by the Ministry of Education, Sciences and Technological Development to strengthen Serbian companies by supporting knowledge based development”, stated Tomislav Jovanovic, PhD, Minister of Education, Science and Technological Development.
“We are very pleased with the impact that EU donation has on building entrepreneurial sector in Serbia.” said Michael Davenport, Head of the European Union Delegation to the Republic of Serbia, and added: “Our support of the innovation sector is already showing tangible results which encourages the EU to continue to support the Innovation Fund as well as the innovative sector through future projects, providing the essential financial support. “
“Innovation is important for Serbia, because Serbia has to be competitive with countries that are already in the EU. The role of the World Bank in this project is to provide international experience and expertise, which among other things is reflected in the integrity of the decision-making process, which is modeled after similar institutions in the world”, said Tony Verheijen, Country Director, The World Bank.
“The role of the Investment Committee is to recognize innovative projects of highest quality. Projects selected for financing have capable entrepreneurs and clear development plans that have potential to compete on globally”,stated Vladeta Marjanović, Chair of the Independent Investment Committee.
For additional information, please contact:
Lenka Žilić-Arsić
E-mail: lenka.zilic@inovacionifond.rs
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About the Innovation Fund (IF): The Innovation Fund was established by the Serbia Innovation Law in order to provide funding for innovation, primarily through cooperation with international financial institutions, organizations, donors and the private sector. The objective of the IF is to contribute to the overall development of innovation through various financial instruments, particularly by fostering the establishment of new and strengthening existing companies, by positioning them to access venture capital markets, and by promoting linkages between research, technology development and economy. www.innovationfund.rs
About the Innovation Fund Investment Committee:
Vladeta Marjanovic, Senior Director, Go To Market Business Development, Cisco Services Cisco Systems, USA
Gordana Vunjak-Novakovic, Professor of Biomedical Engineering, the Director of Laboratory for Stem Cells and Tissue Engineering, Columbia University, USA
Lex de Lange, CEO of Zernike Group Holding B.V., The Netherlands
Alexander Ziegler-Jöns, Chief Representative of Science & Technology Transfer Jacobs University, Bremen, Germany
Risto Kalske, Former Director of the Pre-Seed Finance at the Finnish Innovation Fund (SITRA), Finland
Annex 1
Projects Financedunder the Mini Grants Program
PROJECT DESCRIPTIONS
Company: Projektinženjering Tim
Project: “Seismo-Safe 2G3-GOSEB Building System“-The project is a validation of a patented method and device to protect buildings against earthquakes.
Company: Novelic
Project: “RAVIP – Radar for Visually Impaired Persons“- Company is developing innovative solution for helping people with visual impairments by using the integrated radar sensor detecting the distance and the speed of the objects in front of the user.
Company: Unitehna Alati
Project:“Vine/Fruit Green Pruning Device“-Company is developing a new device for green pruning, controlled by an innovative pneumatic system.
Company: COFA Games
Project: “Awakening of Heroes“ – The project is developing a new multiplayer action Real Time Strategy video game deployed to various operating systems and different devices.
Company: Euro Cal
Project: “Innovative Ultrasonic Heat Meters“- The company will develop a new ultrasonic heat meter for chemical, processing, food and pharmaceutical industry.
Company: 365ads
Project:„Brides2Bride“-The project will develop a platform that will help future brides in wedding organization.
Company: Eipix Entertainment
Project:“Creating Worlds“ – Company is developing a fresh, free to play (F2P) video game which combines hidden object puzzle adventure style with rich interactive content, set in a story driven environment.
Company: Ekofungi
Project:“21st Century Food“-The company will develop a new technology for growing mushrooms with high nutritional value, for food and medical use.
Company: NS Web Development
Project:“Clinic in Cloud“-The project’s goal is to develop a patient and appointment management software system for clinics that will be offered as Software as a Service.
Company: Coprix Media
Project:“Interactive the WorldAround Us“-Company is developing a new game-based interactive learning tool for preschool and primary school children.
Projects Financed under the Matching Grants Program
PROJECT DESCRIPTIONS
Company: Techno Naiss
Project: “X-Ray Collimator With Automatic Filter Replacement” –The company will develop an advanced collimator with improved focusing capability and automatic filter replacement mechanism.
Company: Stan Technologies
Project:“High Speed Compact Size System for Filling and Sealing Yogurt in Preformed Cups” –The company will develop a compact, high-speed machine for filling and sealing yoghurt cups.
