The fight to preserve nature demonstrates that true success requires dedication, courage, innovation, and, above all, collective action, as these challenges surpass the capabilities of individuals or single nations. In a world grappling with such challenges, countless ideas are born. Many have the will, knowledge, and concepts that could contribute to solutions, but these often remain unrealized visions due to a lack of necessary support and resources.
This need was recognized in 2011, and the Innovation Fund was established to enhance Serbia’s innovation ecosystem. The Fund provides financial, mentoring, and advisory support to innovative teams, startups, small and medium-sized enterprises, and research organizations that develop new products, technologies, and business models. By fostering collaboration between academia and the business sector and applying ethical and professional standards, the Fund is a key pillar for creating sustainable solutions that change the world.
We spoke with Milena Kostadinović, Special Advisor for International Cooperation at the Innovation Fund, about the Fund’s activities and the importance of the innovations it supports.
From its inception, the Fund has been tasked with driving the development of innovative entrepreneurship by encouraging community funding and enabling the creation of market-ready solutions. The foundations for a dynamic innovation ecosystem have been laid through appropriate financial mechanisms, now encompassing numerous support organizations, developed infrastructure, competitions, and access to diverse funding sources.
IN FOCUS:
- CBAM – Challenges and Opportunities for Exporters and Transition to Clean Energy
- Solar Energy as a Driver of Change
- ESG Standards as the Foundation of a Sustainable Future
The Fund’s support plays a crucial role in fostering economic and social development and improving environmental protection. The innovative projects it finances contribute to economic growth, job creation, increased competitiveness of domestic businesses, and the strengthening of a knowledge-based economy. Innovations in healthcare, education, and digitalization enhance the quality of life. At the same time, the environmental dimension of its support is reflected in the active financing of green technologies and sustainable solutions that reduce negative environmental impacts.
Notably, the Fund independently assesses the environmental and societal impact of all projects submitted for support, regardless of their field, and only supports those without negative impact.
The growing number of applications to their programs confirms the increasing interest in innovation projects in Serbia, particularly in the fields of digital technologies, sustainable solutions, and artificial intelligence.
“These projects have significant potential for entering international markets, further motivating businesses to improve their operations and achieve global success.”
Prepared by Katarina Vuinac
The story was published in the Energy portal Magazine RESPONSIBLE BUSINESS
