Belgrade, January 17 2017 – An invention that prevents the spoilage of wine after opening the bottle is now on its way to the market after the contract of commercialization has been signed yesterday between the Innovation Fund and the Innovation Center (IC) of Belgrade’s Faculty of Mechanical Engineering.
The contract will be implemented under the TTF Program, a pilot activity aimed to support the R&D community in Serbia. Through its mechanisms, the local technology transfer organizations as well as public-sector R&D institutes are enabled to identify a private-sector partner for the development of their research with commercial potential and get it to the market. The program is financed by the European Union and implemented by the Innovation Fund in cooperation with the World Bank.
The IC’s innovation consists of a unit for pumping argon, which prevents wine oxidation, and a removable electromagnetic cork, which regulates the dosage. The Fund will provide EUR 20,000 for patent protection, design of technical documentation and a new series of prototypes, and additional testing. The inventors and copyright holders are Miloš Milošević, Research Fellow at the IC, and Bojan Lazic from PORT-TR.
“The contract is a good example of cooperation between the state and the R&D institutions aimed not only at promoting innovation, but also boosting the economic development of the country. The Innovation Fund has recognized the huge commercial potential of the device for dispensing and preservation of wine, and the funds will be used primarily for international patent protection. This will allow not only the placement of the device on the global markets, but also its recognition as another Serbian brand“, says the director of the Innovation Center professor Aleksandar Sedmak.
The TTF Program funds will enable the IC to apply for patent protection with the European Patent Organisation, the Eurasian Patent Organization, as well as in the United States, Canada and Australia, totalling over 50 countries worldwide.
” This project shows in practice what it is like when science and industry get together as a result of market demands, and identify and develop an idea into a new commercially attractive product. The ultimate goal is to use the funding, throught the Fund’s TT facility, for reaching commercial partners and taking this invention to the market“, “says Ivan Rakonjac, Interim Managing Director of the Innovation Fund.
For details about the TTF Program please go to: http://www.innovationfund.rs/ttf-program/