Innovation Fund investing in AI startups - New public call opened

Within the Serbia Ventures program, the Innovation Fund is opening a new public call with the aim of supporting the establishment of a venture capital fund amounting up to EUR 5 million for investing in high-growth potential startups in the field of artificial intelligence, through partnerships with private investors and institutions.

The application for participation is open on the IF portal until September 24, 2024, and additional criteria and application documentation are available on the IF website.

– Serbia Ventures AI provides initial investment in the venture capital fund, significantly increasing the availability of financial resources for startup development, and contributing to the success of innovative products based on artificial intelligence in the market – it is said in the Fund’s announcement.

In this regard, the IF, as added, will strive to select the best proposal from the future venture capital management company that will serve as a long-term support mechanism for startups developing new AI-based products.

The funds for this public call are provided from the budget of the Republic of Serbia, in cooperation with the Ministry of Science, Technological Development, and Innovation.

The Serbia Ventures AI program represents a significant advancement in the development of the innovation ecosystem in Serbia, supporting the growth of startups in the field of artificial intelligence and contributing to economic development in this area.