The Innovation Fund of Serbia has announced a new call for proposals for grants for innovative development inSerbian enterprises. The public call is worth  €9 million and is part of the joint investment by the Republic of Serbia and the European Union to support small and medium-sized enterprises (SMEs) through the project entitled “Increased innovation capacity and technological readiness of SMEs”, with a total value of  €20 million.

The EU has allocated more than €250 million since 2001 for projects aimed at improving and strengthening the Serbian economy, especially the SME sector. This is a sector that is key to developing Serbia’s market economy, as well as contributing to Serbia’s ongoing process of EU integration. Overall, €41 million has been dedicated to funding innovation, science and technology.

At the announcement event, the EU Ambassador to Serbia, Emanuele Giaufret, pointed out the opportunities for young innovators in Serbia, saying “We have financed 137 projects from a variety of sectors and we have already reserved additional funds so that our overall funding will jump in the future to an impressive €46.8 million for grants for innovators in Serbia”.

The grants are aimed at the development of innovative products, services and technologies, and project proposals can be submitted on the Fund’s website until 15 March 2022.