The Fund for Innovation Activity publishes a Public Call for awarding innovation vouchers

Innovation vouchers are a simple financial incentive intended for companies to use services provided by scientific research organizations.

The development of new products and services is directly related to the process of innovation, and innovation vouchers are a way to facilitate the transfer of knowledge through a direct financial incentive and encourage the creation of long-term partnerships between companies and scientific research organizations.

The goal of innovation vouchers is to financially encourage companies to cooperate with scientific research organizations in the field of research and development in order to make their products competitive on the market.

Participation conditions

Eligible users of innovation vouchers are micro, small and medium-sized companies in majority private ownership (minimum 51% private ownership), registered in Serbia in accordance with the currently valid Law on Business Companies.

Eligible companies that meet the criteria can apply for innovation vouchers to cover the costs of services provided by scientific research organizations which fall into one of the following categories:

• scientific research organizations from the public sector registered in Serbia (minimum 51% directly or indirectly state-owned);
• scientific research organizations accredited by the Ministry of Science, Technological Development and Innovation for scientific research activities (including privately owned ones). The list of accredited scientific research organizations is available at: https://enauka.gov.rs/.

Typical service providers are universities, faculties, research institutes, innovation centers and other scientific research organizations in Serbia that fall into either of these two eligible categories.

Services funded

Innovation vouchers can be used for the transfer of scientific, technological or innovative knowledge that is new for the company or for solving a technical/technological problem determined by the company. The innovation voucher is awarded for the following services:

• Development of new or improvement of existing products (in relation to functions and quality), processes or services;
• Proof of concept;
• Feasibility study;
• Production of a laboratory prototype;
• Development of a demonstration prototype;
• Different types of testing (in the laboratory, in a pilot plant);
• Technology validation;
• Validation of new or improved products, processes or services;
• Advisory services related to innovation activity;
• Development and introduction of special software for a product or process (within product development);
• Techno-economic analysis related to the service provided. A maximum of 20% of the value of the innovation voucher can be planned for these purposes.
• Specific professional training related to the development of a technological solution. A maximum of 20% of the value of the innovation voucher can be planned for these purposes.

Specific tasks must be described in detail in the financial offer.

Innovation vouchers cannot be used for the following services:

• Development of business plans and economic assessments;
• Sales activities;
• Development of standard internet presentation or mobile applications;
• Activities of market research and analysis;
• Non-consulting services that are already available on the market (ISO standardization, technical certificates...);
• Activities that are already financed within another program or by another company;
• Travels, conferences or purchase of equipment;
• Services for which the service provider is not eligible (does not meet the aforementioned criteria for the service provider for the award of innovation vouchers).

Amount of financing

The innovation voucher covers 60% of the total costs of the service provided by the scientific research organization, i.e. up to a maximum of 800,000 dinars, not including value added tax (VAT). Companies are obliged to co-finance the remaining amount of the total costs of the services. As the cost of VAT is not financed by an innovation voucher, companies are obliged to bear the cost of VAT on the total cost of services, when applicable.

One ​​company may be granted several innovation vouchers in the total maximum amount of up to 2,400,000 dinars (including previously used innovation vouchers).

If the company has used innovation vouchers with a maximum value of up to 2,400,000 dinars are not eligible to apply.

In case the application for an innovation voucher is rejected, it is possible to submit a new application.

The approved innovation voucher must be used within a maximum period of six months.

Submitting an application

In order to apply for an innovation voucher, a company must first register on the Fund's portal accessible through the Fund's website.

The application for obtaining an innovation voucher consists of three parts:

• The request for the service of a scientific research organization defined by the company (applicant) is filled out directly on the Fund's portal;
• Financial offer scientific research organization (service provider) in accordance with the service request (to be placed on the portal in PDF format);
• Acceptance of the conditions of Innovation Vouchers (to be filled out directly on the Fund portal).

The financial offer must contain the following elements:

• Specification of the technical problem for the requested service;
• Name of the scientific research organization and contact person responsible for the requested service;
• Financial offer for services with expressed VAT as a separate cost, if the scientific research organization is in the VAT system;
• Costs for providing the service divided into 3 categories:
  • Human resource costs of the service providers, which include the names of the persons engaged and the duration of their engagement (in the relevant period of service provision, the person providing the service may be engaged on a larger number of innovation vouchers. However, the total number of working days of a specific person on with all vouchers cannot be greater than the total number of employees days in the observed period of service performance. For example, if the observed period for the execution of the service is a maximum of six (6) months, the total number of working days for which it is possible to hire one person is six (6) months x twenty-two (22) days, minus the number of non-working days (public holidays) for engaging in all innovation vouchers in that period. If the maximum number of working days is exceeded, the Fund reserves the right to ask the customer of the service to provide a corrected financial offer from a scientific research organization after considering the applications received);
  • Costs of consumables;
  • Costs related to the use / rental of equipment;
• Date of completion of the requested service;
• Validity of the offer (minimum 30 days).

Financial the offer must be signed by the official representative of the scientific research organization. The request for the service is submitted directly to the Fund's portal, while the financial offer of the service provider is placed on the Fund's portal as a separate document in PDF format.

After registration, filling out the service request, placing the financial offer and accepting the conditions of the innovation voucher scheme, it is necessary to click the "Send" option in order for the application to be successfully submitted.

Innovation voucher can be awarded for all areas of science and technology and for all economic activities.

The scheme of innovation vouchers is in accordance with The strategy of smart specialization of the Republic of Serbia for the period from 2020 to 2027, which focuses on four priority areas:

• Food of the future;
• Information and communication technologies;
• Machinery and production processes of the future;
• Creative industries.

A minimum of 70% of the Fund's available budget for an individual public call will be allocated for the allocation of innovation vouchers that fall into the above-mentioned areas, while the remaining maximum 30% will be allocated for all other areas.

The allocation of innovation vouchers will take place in the order of received applications, starting from the day of publication of the public call, within seven working days from the date of delivery applications.

Applications for innovation vouchers can be submitted starting from July 13, 2023, until the allocated funds are spent.

The total amount of allocated funds for this public call is RSD 120,000,000.00.

Incomplete applications, as well as applications that have not been submitted electronically on the Innovation Fund portal activity, i.e. applications submitted in print form will not be taken into consideration.

The conditions of the program are described in detail in Handbook for innovation vouchers.

Please use the following link to apply: https://secure.inovacionifond.rs/Vouchers/

Funds for the implementation of the Innovation Voucher Program are provided from the budget of the Republic of Serbia for 2023 from the Ministry of Science, Technological Development and innovation.

Fund for innovation activities

Veljka Dugoševića 54, section B4, II floor, 11000 Belgrade (Science and Technology Park "Belgrade")

Contact: ivauceri@inovacionifond.rs

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Article 6 of the Accounting Act defines micro, small and medium-sized companies. The law can be accessed here.