The StarTech innovation support program is part of a six-year project implemented by NALED with the support of Philip Morris, aimed at accelerating economic growth and transforming the traditional economy into a digital, export-oriented economy based on knowledge and innovation
Half a million dollars more for innovations – the new StarTech competition is now open
The fifth StarTech competition, worth half a million dollars, which supports the development of innovative products and the digital transformation of businesses in Serbia, was announced today. All interested entrepreneurs, micro, small, and medium-sized enterprises, as well as informal teams, can apply by May 15th for grants of up to $50,000.
The StarTech innovation support program is part of a six-year project implemented by NALED with the support of Philip Morris, aimed at accelerating economic growth and transforming the traditional economy into a digital, export-oriented economy based on knowledge and innovation.
Dragana Vujko, Corporate Affairs Director for Southeast Europe at Philip Morris International, emphasized that StarTech is the largest entrepreneurship support program fully funded by the private sector.
"This project is much more than that – it is designed to help reform processes in the system that should continue to support and nurture our innovators, providing them with a healthy environment for development. We are all witnesses to the significant progress made in this area in Serbia, and I am proud that this project is part of that transformation. What is particularly important to us in StarTech are topics such as improving cooperation between the economy and science, the role of innovation in economic development, strengthening scientific institutions, and retaining or bringing back our scientists and innovators to Serbia," said Vujko.
"We expect that, based on this competition, which will be open until May 15th, we will award at least 10 grants of $50,000 each to finance the development, implementation, or commercialization of innovations," said Dušan Vasiljević, Director for Competitiveness and Investments at NALED. He also mentioned that professional support is available to all candidates who need assistance in formulating a business plan, which is a key part of the application, and they can apply for this support until April 23rd.
To date, StarTech has supported 99 innovations through mentoring and grants worth approximately $3.5 million. A successful example is the company Smartsy, a winner of a StarTech grant in the previous cycle, which developed a smart doghouse.
"StarTech's support allowed us to improve our product and introduce it to new markets. This program is not just financial aid; it's also an opportunity for expert support and networking with relevant partners," said Teodora Pećanac, co-owner of Smartsy.
It is worth mentioning that StarTech grant recipients are present in 27 countries, including Australia, the USA, Japan, China, South Korea, Egypt, Malta, Qatar, and more.
