The Project builds on the successes of the Innovation Serbia Project (ISP), which was also implemented by the Innovation Fund in the period 2011-2016. Innovation Serbia Project was financed from 2011 EU IPA funds and administered by the World Bank.

Objectives

The objective of the Project is to stimulate collaboration between public research and development (R&D) sector and the private sector in order to commercialize R&D and promote technology transfer.

This pilot Project will facilitate reorientation of the public research sector toward the needs of the private sector and support a framework for increasing the efficiency of future investments in research and innovation in Serbia.

Components

Component 1 – Technology Transfer Facility. This component supports the establishment of a centralized Technology Transfer Facility (TTF) within the Innovation Fund, employing international and local experts in order to stimulate and coordinate technology transfer of public R&D organizations. It also provides support services to local Technology Transfer Offices (TTOs), research and development (R&D) and innovation support organizations to enhance their capacity and effectiveness to consummate deals.

Component 2 – Collaborative Grant Scheme. A new financial instrument designed with the technical assistance from the World Bank, and managed and implemented by the Innovation Fund.

The Collaborative Grant Scheme provides financial assistance in the form of subgrants of up to EUR 300,000 to consortia consisting of at least one Serbian private-sector company and at least one registered Serbian R&D organization, with the aim of bringing together the best potential from the private and public research sectors in implementing activities which will explore research and technological potentials and provide clear prospects for commercial use and exploitation.

Component 3 – Development of an R&D and Innovation Strategy, an R&D Infrastructure Roadmap and corresponding Action . This component is led by the Ministry of Education, Science and Technological Development (MoESTD) with technical assistance from the World Bank.

Source: InnovationFund