Innovation – Key to Sustainable Development: Grants for Serbian Companies with Innovative Projects

Posted in: News- Dec 13, 2017

Belgrade, 8 December 2017 – Twenty-five (25) innovative projects by Serbian enterprises were provided support under the technological innovation programme through grants totalling EUR 2.45 million. As part of the Mini Grants Programme, intended for enterprises in their early stages of development, grants were approved for 20 innovative projects amounting to EUR 1.45 million, while the Matching Grants Programme approved funds of EUR 1 million for 5 projects. Each of the Serbian enterprises received grants of up to EUR 80,000 under the Mini Grants Programme, or up to EUR 300,000 under the Matching Grants Programme at the ceremony organized by the Innovation Fund at the City Assembly of Belgrade.

The innovative projects that received funding cover various industries, mainly in the field of software and application development, information-communication technologies, as well as mechanics and mechanical engineering, new materials, and nano-technology. The majority of those supported are operating in Belgrade, Niš, Novi Sad, and Kraljevo.

“This is a very important contribution to the improvement of innovation capacities in Serbia, providing a basis for further economic growth and overall economic progress of our society”, said Nenad Popović, Minister of Innovation and Technological Development. “Innovations are an economic category, directly related to economic indicators and increasing the competitiveness of the economy. The development of innovation provides the conditions for opening new high-tech jobs and retaining young people in Serbia.”  He noted that the Government intends to support the development of innovative entrepreneurship, through strengthening ties between science and business, and the application of various financial instruments stimulating the establishment of new and strengthening of existing innovative companies. “In this respect, a much larger share of the budget will be allocated for the innovations next year”, observed Popović.

“The Ministry of Education, Science and Technological Development has allocated EUR 2.7 million for these two programmes this year”, said Saša Stojanović, Assistant Minister of Education, Science and Technological Development. “Together with the Innovation Fund we will continue to represent a link between ideas and the market confirmation of products developed in Serbia and finding applications worldwide. It is extremely important for science and education to operate for the economy, this is the competitive development of a nation’s economy.  Today I would like to take the opportunity to invite other companies with innovative ideas to use the opportunity and apply in the next year, when the Innovation Fund issues the call again.”

This year’s public call for these two programmes, closed on 1 September 2017, registered a record number of innovative project applications by enterprises, 66.9% more than in 2013. The Fund received 237 applications, 137 for the Mini Grants Programme and 100 for the Matching Grants Programme. After independent international review, the Expert Committee of the Fund first adopted a consensus decision on the shortlisted projects (32 projects), and after direct presentations they made their final decision on financing innovative projects.

“The Mini Grants Programme and the Matching Grants Programme, standing programmes of the Innovation Fund today, have proved to be a long-term sustainable financing mechanism that provides results. This year’s interest from enterprises shows that there is innovation potential in Serbia, but also that financial support through these two programmes provides an opportunity for enterprises to reduce the risk of developing new products and achieve visible results in growing their business”, said Ivan Rakonjac, Director of the Innovation Fund.

In addition to officials of the Government of the Republic of Serbia, talks were also given during the ceremony by Yngve Engstrom, Head of Cooperation at the Delegation of the European Unionn to Serbia, Maja Andjelković, Senior Private Sector Specialist at the World Bank, and  President of the Expert Committee Vladeta Marjanović, who closed the session by talking about the evaluation process. Goran Vesić, City Manager, spoke on behalf of the City of Belgrade.

Through European Union donations the Fund has awarded a total of EUR 6 million for 52 innovative projects to this date, resulting in the creation of over 480 jobs, mostly highly qualified. The total revenues of the enterprises that were awarded financing increased by over 160 percent, while their exports have increased more than nine times. This year’s cycle, the programs are financed in the amount of EUR 2.7 million from the Ministry of Education, Science and Technological Development’s part of the budget of the Republic of Serbia, through the Serbia Competitiveness and Jobs Project (based on a World Bank loan agreement).

Projects Financed under the Mini Grants Program


Company: Mainflux Tech

Project: Mainflux IIoT System

Project description: Internet of Things device that keeps sensitive data local and secure.


Company: Bizbaz

Project: Innovative Plush Toys with Natural Beeswax

Project description: Beeswax based anti-inflammatory soft toys.


Company: Pygmy Titan

Project: Embedded Mobile Application Platform

Project description: Applying smartphone technology for industrial automation control.


Company: Publitio

Project: Publitio API

Project description: Platform as a service providing advanced multimedia tools for web developers.


Company: Ultimo Građevinska Hemija

Project: Development of New Materials for Prefabricated Concrete Elements for Building Construction in Tropical Climatic Conditions

Project description: Prefabricated construction components for low-cost housing.


Company: Future Reality Systems

Project: Arxitekt

Project description: Augmented reality interior design mobile app for industry professionals.


Company: Airpop

Project: Development of Disposable EPS Products Multifunctional Handling Unit as EPS Molding Machine Extension

Project description: Groundbreaking automation of polystyrene leak testing and packing.


Company: Altfuture

Project: Derail Valley

Project description: Virtual reality game for train enthusiasts.


Company: Solagro Smart Recycling

Project: Solagro Smart Recycler 2.0

Project description: Gamified recycling system with waste analytics.


Company: Tehnologije Budućnosti

Project: Surveillance and Communication System „Kvazar“

Project description: Fuel theft prevention solution for transportation industry.


Company: SpiceFactory

Project: Sava Event Management Platform

Project description: Online event management platform.


Company: Swiftty

Project: SwiftBuild

Project description: Cloud-based service that automates professional web development process across multiple platforms.


Company: Hyperwelder

Project: Hyperwelder

Project description: Virtual reality platform to train welders.


Company: Tino Space

Project: Tino Space

Project description: Bot technology that opens up ways for brands to speak directly and efficiently to consumers using online advertising.


Company: 3F Fit Fabricando Faber

Project: Motivate to Move (MOTIMOVE)

Project description: Device to restore muscular function during patient rehabilitation process.


Company: Vemid

Project: New Forged-Quality Al/Cu Bimetallic Electrical Connectors

Project description: New technology to improve the cost efficiency of connectors for power industry.


Company: Immersive4

Project: Immersive4Learning

Project description: Virtual reality platform for lifelong learning.


Company: Ralbing

Project: Implementation of Computational Intelligence in Foundries In SerbiaICIFS

Project description: Software to improve efficiency at casting foundries.


Company: CCS Solutions

Project: Couch Coach

Project description: Social networking app that lets fans give real time feedback to team coach during basketball games.


Company: SmartResearch

Project: SmartBlot

Project description: Automated western blot processing device for life science research professionals.


Projects Financed under the Matching Grants Program


Company: Uniplast

Project: Development of Active Pharmaceutical Packaging

Project description: Antimicrobial packaging for pharmaceutical, food and cosmetics.


Company: INGSoftware

Project: FamilyPay

Project description: Online child support management for separated parents.


Company: LimundoGrad

Project: PRUNO – Fraud Detection Tool

Project description: Detection and prevention of e-commerce fraud.


Company: NetSet Global Solutions

Project: Cloud-based Digital Citizen Identity

Project description: Secure online e-government services for citizens.


Company: Harder Digital Sova

Project: Intensified Day/Night Digital Camera with Image Enhancement

Project description: Day & night vision camera with highly sophisticated image enhancement