Continuation of Calls for Public Financing of Innovative Companies
The Innovation Fund announces the continuation of Calls for proposals under the MINI and MATCHING GRANTS Program on February 8, 2013 as part of the Innovation Serbia Project. The deadline for submission of applications is April 15, 2013 at 5 pm.
The MINI GRANTS Program provides a unique opportunity for Serbian start-up and high-technology companies by financing up to 85% of total project costs for activities such as proof of concept, prototype development and preparation of business plans, in the amount of EUR 80,000.
The MATCHING GRANTS Program finances up to 70% of the total project value in the field of technological development and commercialization, up to the amount of EUR 300,000. The program’s goal is to co-finance research and development activities in existing micro and small businesses so that they can build cooperation with strategic partners, attract investors and launch their innovative products and services on the market.
The funding for the Mini and Matching Grants Programs was provided through the Innovation Serbia Project. For the purpose of this project, the European Union dedicated EUR 8.4 million to the development of institutional capacities for promotion of innovative activities in the private sector in Serbia. In addition to capacity building and implementation of financial instruments, the World Bank will provide technical assistance regarding technology transfer and commercialization among selected research institutes, in cooperation with the Ministry of Education and Science and Technological Development.
The final financing Decision is made by the Innovation Fund’s Independent InvestmentCommittee based on reports from international peer reviewers who review the projects, the on-site visit report carried out by the Innovation Fund team, as well as their own professional expertise. This is a form of independent and international decision-making process that ensures not only the quality, but also the transparency of the process.