In the third application cycle, financial incentives for the transformation of innovative ideas into sustainable projects are provided by the Innovation Fund (IF) through the Mini Grants Programme and the Matching Grants Programme. With clearly defined criteria, the programmes are designed for the development of new products, services or technologies with a strong innovative potential to meet the market needs.
IF allocates from EUR 80,000 to 300,000 per single project, depending on the programme, while enterprises are obliged to provide part of the funds from private sources. With this approach, the IF and enterprises jointly participate in the development of innovative solutions, which consequently has a positive impact on the national economy.
Submission of project applications from all fields of science and technology and all industrial sectors are conducted via the IF’s portal, while the required documentation for the application and detailed information regarding the Public Call can be found on the IF's website.
With the aim of introducing all interested applicants to the conditions and details for submitting project applications, the IF’s team will provide daily support. The "Open Doors" workshops will be organised once a week. Information sessions will also be regularly organised, in cooperation with local partners, as well as all organisations linked to SMEs and scientific research institutions.
Direct Grant - Increased innovation capacity and technological readiness of SMEs is signed between the Innovation Fund and Ministry of Finance - the Department for Contracting and Financing of EU Funded Programs (CFCU) provides funds for the continuation of Mini Grants Program, Matching Grants Program and Collaborative Grant Scheme Program.
The total budget of the Project is EUR 20 million, of which EUR 15 million from the European Union Pre-Accession Assistance for 2018 (IPA 2018) and EUR 5 million from the budget of the Republic of Serbia, the line of Ministry of Education, Science and Technological Development.
The amount allocated for the financing of approved projects under the Mini Grants Program, Matching Grants Program and Collaborative Grant Scheme Program financed under this Direct Grant Agreement is EUR 18 million. More about the project can be found on http://www.inovacionifond.rs/