The Innovation Fund is currently accepting applications for the Matching Grants Program 2020.
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The Matching Grants Program is designed for enterprises looking for significant financial resources for the commercialization of research and development.
The Program has the goal to stimulate further knowledge-based development of innovative enterprises, encourage establishment of partnerships with international partners and to increase the number of technology-based companies.
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The objectives of the Matching Grants Program are:
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- To stimulate commercialization of R&D and further knowledge-based development of innovative enterprises;
- To incentivize existing Serbian micro, small and medium enterprises to engage in development of new high value-added products, services and technologies;
- To stimulate establishment of collaboration/partnerships between Serbian micro, small and medium enterprises and international companies/organizations;
- To increase the number of technology-based companies and prepare them for additional investment and growth opportunities.
- up to EUR 300,000, or up to 70% of the total approved project budget for micro and small enterprises, or 60% for medium enterprises
- a minimum of 30%, or 40% of the total approved project budget is to be provided by the enterprise
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Duration of the projects: up to 24 months
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- The Applicant is a legal business unit, incorporated under applicable/current Serbian Company Law, registered at the Serbian Business Registration Agency (SBRA) and located in Serbia
- The Applicant is a private sector (at least 51% privately owned), micro, small or medium sized company;
- The Applicant has generated a minimum of EUR 200,000 in operating revenue in the previous or current business year and is profitable.
An Applicant that meets any of the following criteria are NOT eligible to apply for the Matching Grants Program:
- The Applicant has received financing from any other IF financing program for the same or similar activities;
- The Applicant had revenue over EUR 50,000,000 in any of the prior two years;
- The Applicant is under control and/or majority owned (greater than 50%) by a parent company that is an operating or holding company that had revenue, or is part of the group that had revenue over EUR 50,000,000 in any of the prior two years;
- The Applicant is considered to be an affiliated entity of a large company (domestic or foreign) or is 10% or more owned by a large company (domestic or foreign).
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The documentation to be submitted in the Application:
- Applicant Statement
- Business Plan
- Project Budget
- Project Presentation
- Financial Forecast (Projected income statements for the next 5 years)
- Environmental Screening Questionnaire (ESQ)
- CVs of the key personnel engaged in the project (maximum 5)
- Audited financial statements for the last two years (where applicable)
For more information, visit http://www.inovacionifond.rs/programs/matching-grants-program