Prime Minister Ana Brnabic and Director General of Philip Morris International for South East Europe Aleksandar Jakovljevic signed today a Memorandum of understanding and cooperation in the implementation of StarTech Project of support to digital and science-based transformation of the Serbian economy.
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$5m for most innovative companies in Serbia
Belgrade,
16 December 2020
The signing was attended by representatives of NALED, who will implement the project.
Start-ups and small and medium-sized companies that wish to accelerate their growth through innovation and modern technologies will be able to use a new, unique programme of support as of next year.
They will be able to finance their projects with non-repayable funds, provided by Philip Morris International through a donation worth $5 million.
Brnabic stated that project StarTech is fully in line with the priorities of the Serbian government, which is to secure a strong economic growth and the creation of new quality jobs through digitalisation and the stimulation of economic activities based on science, creativity, innovation and new technologies.
In particular, I have to express great thanks to company Philip Morris for deciding, in such a difficult year as this one, to donate considerable funds for a project of this kind.
The Prime Minister said that through the activities of the Innovation Fund, Serbia continues to increase financing and support to innovative companies every year.
Jakovljevic announced that over $3.5 million will be allocated over next three years through grants ranging from $25,000 to $100,000 and the users of the grants will not have the obligation of co-financing.
Executive Director of NALED Violeta Jovanovic underlined that StarTech is the first programme of support to innovative entrepreneurs funded by a private, socially-responsible company, and Philip Morris chose no other country but Serbia for its realisation.
In addition to non-repayable funds, the selected companies will be given vouchers for expert support to business development and digital transformation.
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