Official title of the project

Serbia Innovation Project (SIP)


Project information

Region / City
Total budget of programme / project

Euro 8.4 million

Implementation period
2011. Dec - 2014. Nov
Expected results
  1. Mobilizing resources for innovation financing;
  2. Increasing the number of technology start-ups,
  3. Supporting development of new products and processes launched by beneficiary enterprises,
  4. Making policy recommendations for RDI sector reform. 

 Ministry of Education Science and Technological Development

Target Groups

Innovative enterprise, start-up and spin-off companies; Innovation Fund.

Summary of the project

The project supported establishment of the institutional capacity of the Innovation Fund to manage financing  for enterprise innovation and encouraged emergence of the knowledge based entrepreneurial sector in Serbia by providing initial financing for early stage development of innovative products and services, protection of intellectual property and commercialization activities.

Continued support from both national and international sources of financing for innovative startups, technology transfer, and high value added support for enterprises in business development , intellectual property management and commercialization is needed to further stimulate participation from private sector investors though venture capital and business angels and to encourage stronger collaboration activities between research organizations and institutions and industry.

Programme/Project objectives

  1. Building institutional capacity of the Innovation Fund to stimulate innovation in enterprises;
  2. Piloting financial instruments for technological development and innovation in enterprises ( Mini and Matching Grants);
  3. Encouraging selected research and development institutes (RDI) to engage in technology transfer and commercialization, and assisting in formulating RDI sector reform policy.

More details on project

Implementation: Innovation Fund

Ljiljana Kundakovic

Interim Managing Director

Makenzijeva 24/6
11000 Belgrade, Serbia

Phone: +381 11 655 5696
Fax:      +381 11 240 0348


Administration: World Bank