Thanks to the joint investments of the Republic of Serbia and the European Union, the Innovation Fund approved EUR 9 million for the realization of 54 innovative projects. Innovative companies will use grants to develop new or improve existing products, services, or technologies. Their task is not only to have knowledge of the technical aspects of their innovations but also to understand market trends and build relationships with potential partners and investors.
Innovative solutions such as a personalized and customizable wearable foot drop syndrome treatment device, an innovative system for people with disabilities for easier access to the facilities they visit, digital furniture of the future, and an innovative catamaran for collecting plastic waste that will reduce water pollution in large watercourses are just some of the supported projects that have the potential to find their application in the market.
Grants in the amount of EUR 80,000 to EUR 300,000, depending on the program, were approved individually per project. The first public call under the Direct Grant Agreement – Increased innovation capacity and technological readiness of SMEs was open from July 5 to September 15, 2021 for three key support programs of the Innovation Fund: Mini Grants, Matching Grants and Collaborative Grant Scheme Program. The second public call of the same value, EUR 9 million, is underway, and the deadline for submitting proposals for innovative projects expires on March 15, 2022, at 3 p.m.
A total of 223 applications were submitted for the announced call. Innovative projects for which funding has been approved come from various industrial areas, mostly from the field of software and ICT, mechanical engineering and energy applications. Most companies operate in Belgrade, then Novi Sad, Čačak.
Through the pre-accession funds of the European Union, from 2011 until today, 153 innovative projects of companies have been supported with EUR 21.9 million.
The Innovation Fund congratulates the awarded companies and wishes success in the implementation of innovative projects.