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“Fund for innovations and development of enterprises” presented
Belgrade,
14 July 2005
Representatives of the European Agency for Reconstruction (EAR) presented today to the Serbian Chamber of Industry and Commerce the programme of the "Fund for innovations and development of enterprises", through which companies and non-profit organisations in Serbia can apply for a one-off grant ranging from €25,000 to €100,000.
Head of the Fund’s project team, David Miller, pointed out that between €25,000 and €100,000 will be allocated for development of enterprises, whereas for new projects and innovations a maximum sum of €150,000 has been projected.
Miller said that non-profit organisations, such as universities, chambers and non-governmental organisations, will receive 90 percent of funds needed for projects, and will finance the other ten percent themselves. For-profit organisations or partnerships will need to put up 25 percent of the capital and receive 75 percent.
He pointed out that all of the received money must be used up within ten months, therefore projects with a short feasibility period will be prioritised.
According to him, applicants must be based in Serbia and must prove they can run the project. Also, they must have at least one year of experience in the sector they are applying for.
Organisations that have existed for at least six months also have the right to apply, but they do not have to be Serbian-based. This opens opportunities for foreign partnerships, Miller added.
The entire project has been endorsed by the Serbian Ministry of Economy and financially supported by the EU. The deadline for submitting applications is September 19, 2005, after which projects will be assessed, followed by the signing of contracts.
Miller said that non-profit organisations, such as universities, chambers and non-governmental organisations, will receive 90 percent of funds needed for projects, and will finance the other ten percent themselves. For-profit organisations or partnerships will need to put up 25 percent of the capital and receive 75 percent.
He pointed out that all of the received money must be used up within ten months, therefore projects with a short feasibility period will be prioritised.
According to him, applicants must be based in Serbia and must prove they can run the project. Also, they must have at least one year of experience in the sector they are applying for.
Organisations that have existed for at least six months also have the right to apply, but they do not have to be Serbian-based. This opens opportunities for foreign partnerships, Miller added.
The entire project has been endorsed by the Serbian Ministry of Economy and financially supported by the EU. The deadline for submitting applications is September 19, 2005, after which projects will be assessed, followed by the signing of contracts.
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