Science Fund Opens New Program – Proof of Concept Worth EUR 1,000,000

The Science Fund of the Republic of Serbia has opened Proof of Concept, a new program for the financing of scientific research projects in Serbia, with a total budget of EUR 1,000,000.

The program is meant for testing scientific ideas or assumptions with the possibilities of commercial application. The program supports projects from all fields of science, and the scientists can formulate the topics of their research themselves, the press release says.

The acting director of the Science Fund, Dr. Milica Djuric-Jovicic, points out that the program offers support to researchers, whose solutions have the potential for commercialization in line with the needs of the market.

– Through this program, researchers will have the possibility to test a science concept, which, if it turns out to be technically feasible, would be the basis for future commercially or socially useful products. This program incites cooperation between science and the economy, which enables scientists to understand the needs of the market and find ways to implement their discoveries. It is also important that, within this program of the Science Fund, those who run the projects can also be young researchers, which motivates them and directs them toward the development of concrete solutions and products – says Dr. Djuric-Jovicic.

The maximum budget per project is RSD 2,400,000, whereas the project is meant to last 12 months.

The funds are provided through the Serbia Accelerating Innovation and Entrepreneurship Project (SAIGE), a partner project of the Republic of Serbia, the European Union and the World Bank.

The public invitation for submitting project proposals is open until September 15, 2023.