Funds for the realization of the public call in the total amount of six million euros were provided from the budget of the Republic of Serbia, from the section of the Ministry of Education, Science and Technological Development for 2021.
The early development program is intended for young companies that are developing technological innovation that is needed in the market. Up to 80,000 euros are awarded individually per project. Micro and small companies established in Serbia, majority privately owned by residents of the Republic of Serbia and not older than five years, as well as informal teams can apply for funds under this program. The funding allocated by the Fund covers a maximum of 70% of the total eligible costs of the project, the duration of which is up to 12 months. In case the project proposed by the team is approved for funding, that team will be obliged to register the company.
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The Science and Economy Cooperation Program provides financial support of up to 300,000 euros for a consortium project consisting of at least one private micro, small or medium enterprise established in Serbia and one state-owned public research organization accredited in Serbia. The support enables consortia to implement joint projects to create high-value products, services, technologies and technological processes through applied research and development. The funding provided by the Fund covers a maximum of 70% of the total eligible project costs for micro and small enterprises, and 60% for medium-sized enterprises. Projects can last up to 24 months.