At a press conference, Djelic said that applications are to be submitted by March 31 and a competition finale is scheduled for December 26.
The Minister said that an initial prize fund is $12 million, but it will certainly rise throughout the year, so winners will be awarded with more than RSD 2 million, adding that Serbian and Republika Srpska inventors, as well as Serbian citizens living abroad can participate.
The competition will comprise five categories: realised innovations, energy efficiency, innovative ideas, potentials and innovative municipalities.
Djelic recalled that this competition has been held since 2005 and has gathered more than 3.500 innovators, whose ideas contributed to the establishment of 35 enterprises and 105 new jobs.
The competition is organised by the Faculty of Technical Sciences in Novi Sad, with the help of the Ministry of Science and Technological Development, the Serbian Chamber of Commerce and Radio Television of Serbia.