The new grant program to support innovative research projects in Serbia has been presented today to the businessmen and representatives of the scientific community at the meeting organized at Nis City Hall in cooperation with the Regional Development Agency South and Regional Chamber of Commerce. The participants were welcomed on the behalf of Nis City Mayor by Mr. Dragoslav Pavlovic, Assistant Mayor for Economy and Investments.

The cooperation programme is being implemented by the Innovation Fund and it is funded by the European Union, in the amount of 2.4 million euros, and the Republic of Serbia, in the amount of 1 million euros. It is designed with the technical assistance of the World Bank. The Fund provides grants amounting to 300 000 euros per project, and in the next months, it will be presented in Belgrade, Kragujevac, Cacak, Novi Sad and Novi Pazar.

The application for the funds can be submitted by the consortium of maximum five members consisting of at least one private small, micro and medium-sized enterprise established in Serbia, with annual revenues of at least 200 000 euros, and a public scientific research organization, also registered in Serbia.

Cooperation programme between science and business is one of the pillars on which the Innovation Fund together with its partners base their comprehensive and consistent commitment to strengthen innovation sector as one of the cornerstones of the local economy based on knowledge.

In addition to this program, since March 2016, the Fund has been implemented a pilot program for technology transfer TTF Programme, funded by the EU, with the objective to enable the redirection of public knowledge from academic research organizations to the private sector by linking researchers with businesses. In June 2016 the Innovation Fund signed a cooperation agreement with the University of Nis.

Since 2011, Republic of Serbia Innovation Fund has been actively promoting links between science, technology and economy and contributes to the development of innovative entrepreneurship. The Delegation of the European Union in Serbia has been supporting the work of the Fund since its establishment. The Fund has awarded financial support to more than 50 inventions developed in young and technologically mature domestic private enterprises under the Support to Innovation in Serbia Project financed by EU funds in the amount of 8.4 million euros. EU support will continue through additional funds in the amount of 4.9 million euros for the implementation of the Program of cooperation between science and business, to the work of the Office of Technology Transfer under the Program TTF and to the development of the Strategy of Scientific and Technological Development of Republic of Serbia  for period 2016-2020.

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