Vlada Republike Srbije Sekretarijat za Javne politike The World Bank

The Mini Grants Program is aimed at private micro and small enterprises which are engaged in development of technological innovations with a clear market need and the potential to create new intellectual property. The goal of the program is to stimulate creation of innovative knowledge-based enterprises (start-ups and/or spin-offs) in the private sector by providing financing for development of innovative market-oriented technologies, products and services with significant commercial potential.

This Program is designed to support the survival of companies during the critical phase of research and development and to allow Serbian entrepreneurs to grow effective business capacities through which they will launch their innovations on the market.

Projects which apply for the Mini Grants Program can originate from any field of science and technology and can belong to any industry sector. Applicants are micro or small private enterprises founded in Serbia and not older than three (3) years at the time of their application, with majority Serbian ownership.

The financing which the Innovation Fund awards through the Mini Grants Program can cover a maximum of 85% of the total approved project budget and the maximum amount of financing coming from the Fund can be up to EUR 80,000 for projects lasting up to one year. A minimum of 15% of the total approved project budget has to be provided by the applicant from other private sources independent of the Fund.

The final decisions regarding financing are made on a competitive basis by the independent international Investment Committee of the Innovation Fund. The number of financed projects depends on the quality of applications, and on the total amount of funds which are available or allocated to the Mini Grants Program. When and where possible, this Program will also strive to provide training in the areas of financial management, intellectual property protection and business development, as well as preparation of Awardees for the next phase of development through mentorship.

For more details on the Mini Grants Program and the application procedure for this Program, please inspect the list of documents on the right side of this webpage.