Innovation Fund Serbia

Innovation Fund has been a pioneering effort to operationalize and institutionalize this imperative.

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Description

Serbia was one of the first countries in the region to embrace the so-called “innovation imperative”, that is the notion that successful participation in the global knowledge economy requires the ability to adapt and advance new technological and research capabilities that involve public and private collaboration. Operational since 2011, the Innovation Fund has been a pioneering effort to operationalize and institutionalize this imperative – first by increasing the capacity of startups and resources available for their growth. It is part of a broader innovation strategy now under development. The intention of the Innovation Fund is to contribute to the overall development of innovations through various financial aid instruments, particularly by fostering the establishment of new and strengthening the existing companies, by positioning them to access venture capital markets, and by attracting foreign direct investment in the high-tech research and development. Innovation Fund aims to promote linkages between research and technology development and economy, and encourage and support the development of innovative technologies. The EU’s support for the Innovation Fund has been instrumental in advancing Serbia’s innovation financing and promoting better integration between the research and private sectors. The Fund is thus an important step towards closer links between Serbia’s and EU’s research communities and innovation ecosystems. It enables the positioning of Serbia as a leader in the region and the establishment of links with the EU and global markets. So far, the EU has allocated around EUR 13 million from the IPA funds to the Innovation Fund.

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Announced Date Company Transaction Money Raised
8/2012 COPRIX media BG Grant 96.9k
11/2021 VLADAM Pre Seed Round 133.4k
8/2017 Publitio Seed Round 35.4k
3/2021 INVT Novi Sad Pre Seed Round 51.8k
6/2020 Machine Can See Pre Seed Round 126k
2/2018 Publitio Seed Round 100.1k
6/2020 OM3GA SOLUTIONS Grant 113.4k
9/2013 COPRIX media BG Grant 105.7k
11/2021 VLADAM Pre Seed Round 0
3/2021 INVT Novi Sad Pre Seed Round 0
6/2020 Machine Can See Pre Seed Round 0
6/2020 OM3GA SOLUTIONS Grant 0
2/2018 Publitio Seed Round 0
8/2017 Publitio Seed Round 0
9/2013 COPRIX media BG Grant 0
8/2012 COPRIX media BG Grant 0

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