A multifunctional glove for the visually impaired, an educational platform for school-age children, passive fire protection tapes made from recycled raw materials and biomaterials... These are just some of the innovations that companies will develop in the coming period thanks to financial support from the EU and the Government of the Republic of Serbia through the project New Products and Services Developed by SMEs Through Research Commercialization, worth EUR 4,5 million.
At the INNOVATION DATE ceremony held today, the Innovation Fund presented 33 companies that have been approved for innovation development funding under the Mini Grants Program and Matching Grants Program, totalling EUR 4.1 million. Innovative projects for which this funding is approved come from various fields of industries, predominantly from software and applications development for the Internet of Things. Most of the supported companies operate in Belgrade, Novi Sad and Kragujevac.
Minister of Education, Science and Technological Development, Mladen Šarčević, Minister without Portfolio responsible for Innovation and Technological Development, Nenad Popović and Ambassador and Head of the Delegation of the European Union to the Republic of Serbia, H.E. Mr. Sem Fabrici addressed the attendees at the ceremony.
The Minister of Education, Science and Technological Development, Mladen Šarčević, stated that the key for progress is in knowledge, science and innovation. He commented that the public call organized by the Innovation Fund demonstrated a year-on-year increase in interest for innovation support programs.
“Investment into science, education and innovation means investing into our future. I’m certain that you can already recognize the efforts and effects that this government has made. The budget for innovation has been increasing since 2017, and in 2020 we’ve allocated even more resources for the IF and the Science fund,” the minister said.
He also added that the Serbian economy is constantly displaying its innovative potential and readiness to translate innovative ideas into tangible products which are needed on the market.
“Small and medium enterprises are the backbone of every economy and they constitute 90 percent of economic activity in every state. They represent a key factor of economic growth and creation of new jobs. The Government of the Republic of Serbia, with the support from the Innovation Fund, strives to incentivize growth and development of small and medium businesses through implementation of new technological solutions and creative ideas, so that they become real products on the market. Here we specifically refer to the areas of artificial intelligence, robotics, blockchain, and embedded and internet-of-things devices. In this way, by applying innovation and digitalization in small and medium enterprises, but also larger systems, new value is created for the Serbian economy and industry,” stated Nenad Popović, Minister without Portfolio in charge of Innovation and Technological Development.
"The programmes supported by the EU through the Innovation Fund become the backbone of the Serbian knowledge-based economy. This is also true for the science and research sector. The results in front of us are particularly good: the revenue of financed companies increased from EUR 6 million to EUR 20 million in six years (+ 225%), 480 high-end jobs were created, exports increased by EUR 8.4 million, more than 33 national and 25 international patent applications were filed. The EU is proud to have made these results possible," says H.E. Mr. Sem Fabrici, Ambassador and Head of the Delegation of the European Union to the Republic of Serbia.
Supported by the European Union funds from the inception, following their pilot phase, Innovation Fund’s programs have become constantly available support mechanism, thanks to continued financing provided from the state budget through the Ministry of Education, Science and Technological Development. As such, they represent permanent pillar of support for the Serbian knowledge-based economy as well as the scientific and research sector. The European Union's financial support has contributed to the development of private and scientific research sectors in Serbia, particularly in the segment of creating permanent links between the academic and the private sectors.
The Managing Director of the Innovation Fund, Ivan Rakonjac, pointed out: “Small enterprises and the academic community have a partner in the Innovation Fund to help them develop their innovations. The Fund provides financial support with the goal of boosting innovativeness and competitiveness of our economy. Of course, the strong support from the Government, especially the Ministry of education, science and technological development and the European Union, has made it possible for us today to present to the public these innovations which I’m sure will conquer the markets. The Fund will intensify its efforts even further in the following period, with bigger capacities and new programs in accordance with the needs of our users.”