Independent international reviewers and the Fund's Expert Commission provided an expert assessment of the submitted projects based on the scoring methodology envisaged by the evaluation process. Projects that have a capable team, innovative potential, sustainable competitive advantage and clear development plans, as well as sufficient quality to compete in the international market, have been selected for funding.

322 project applications were submitted to the announced public call, which lasted from June 15 to August 31, 2020. For the Mini Grants Program 253 applications and 69 applications for the Matching Grants Program. 137 applications for the Mini Grants Program were submitted by the teams, and funding was approved for 6 teams.

The largest number of approved projects is in the field of information and communication technologies, and projects in the field of mechanical engineering, natural sciences and environmental protection are also highly represented. Over 50% of approved projects came from teams and companies from Belgrade, and there is also a significant share of projects coming from Novi Sad. In addition, funding has been approved for projects from Nis, Cacak, Subotica, Bogatic, Backa Palanka and Boljevac.

Funds for the development of innovative products, services and technologies were provided from the budget of the Republic of Serbia, from compartment of the Ministry of Education, Science and Technological Development, and through the “Competitiveness and Jobs Project” (based on a loan agreement with the World Bank).

Overview of projects approved for funding under the Mini Grants Program and the Matching Grants Program

Original news: http://www.inovacionifond.rs/news/innovation-fund-approved-another-eur-5.3-million-for-innovation-development