The National Alliance for Local Economic Development (NALED) has announced a public call for grants to small businesses, as well as to anyone who wants to digitize and apply innovation in their business. The amount of funds available is one million dollars, the deadline for applications is June 4, and the NALED project is being implemented in cooperation with the Government of Serbia and with the support of Philip Morris.
The first annual competition is organized within the three-year StarTech project, which is worth five million dollars, and among the main goals is the creation of new jobs, improving the competitiveness of the domestic economy, as well as the entire innovation ecosystem in Serbia.
Through the first part of the project, in the next three years, more than 3.5 million dollars will be awarded through grants to about 100 domestic startup teams, entrepreneurs, micro, small and medium enterprises, and several thousand hours of expert support will be provided.
“Serbia, in which there will be a large number of entrepreneurs, small and medium-sized companies that have adopted digital business and are easier to operate in foreign markets, will be a country with an even stronger and more resilient economy,” said Ivan Miletic from Philip Morris.
The second part of the StarTech project will be aimed at improving the regulatory framework for the operations of innovative companies and the promotion of innovations, the biggest innovators and Serbia as an investment destination.
“Although in the field of innovation (Serbia) it ranks better in relation to most economies with a similar GDP, in European terms it is among the five weakest,” said Dusan Vasiljevic, a representative of NALED.
Method of application
Entrepreneurs, micro, small and medium enterprises, as well as teams of individuals up to five members have the right to apply for grants within the StarTech program.
Within the first call, companies will be able to apply for a total of one million dollars, and the amount of the grant will depend on the LOT (amount of money intended for grants) for which companies apply:
Under LOT 1, intended for startup teams or businesses established not earlier than 2019, it is possible to apply for grants of 15,000 dollars to 25,000 dollars in order to develop an innovative idea (with 10% co-financing).
LOT 2 and 3 are intended for micro, small and medium enterprises established before 2019 who can apply for grants from 25,000 to 50,000 dollars (with co-financing of 20%) for digital transformation or innovation development projects.
If companies that have applied for LOT 2 and 3 are planning new employments and entering the foreign market, they can count on a grant of 50,000 to 100,000 dollars (with co-financing of 30%).
The first info day about the project for all interested companies was held on April 6 in Cacak, and by the end of the month, the project team will also visit Belgrade, Novi Sad, Nis and Kragujevac.
According to the Statistical Office, 69% of large companies in Serbia are innovative, while the percentage of smaller companies is significantly lower and amounts to only 47%.
Last year, Serbia improved its ranking to 53rd among 129 countries in the Global Innovation Index (GII), Nova Ekonomija reports.
