For the realization of innovative potential and access to the global market, the Fund offers companies significant financial assistance in the amount of up to 120,000 euros and up to 500,000 euros per individual project. The second public call was opened for three Fund support programs: the Early Development Program, the Innovation Co-financing Program and the Science-Business Cooperation Program.

The early development program encourages innovative entrepreneurship and ensures the survival of startups that are in the early stages of development, by providing financial support of up to 120,000 euros, with 70% of the Fund's participation per individual project. Project financing refers to the development of innovations that have commercial potential.

The innovation co-financing program supports the realization of the development cycle of technological innovations of established companies. To cover the high costs of transferring research into a commercially viable product, up to 500,000 euros are available to high-tech companies, with the Fund participating in 60%/70% of the total budget of an individual project.

The program of cooperation between science and business advances industrial research by encouraging joint cooperation between the private sector and scientific research organizations. With the idea of creating new or improving existing commercially viable products and services, the Fund awards consortia up to 500,000 euros with 60%/70% participation in the total budget of an individual project.

Interested companies can submit innovative project proposals from all fields of science and technology until April 1, 2024 at noon. The application documentation and the application form are available on the Fund's portal. Additional information about program details and propositions will be shared by the Fund at online info sessions every Thursday from 1 p.m.

Source: Innovation Fund