New Opportunities for Startups: Sandbox Platform and Digital Assets on the Ministry of Finance Agenda
The Ministry of Finance is working to enhance Serbia’s innovation and digital ecosystem, with the aim of providing startups, innovative companies, and investors with better conditions for growth. This was one of the key takeaways from the panel on finance and the digital economy held during the presentation of the third edition of the Grey Book of Innovation.
Assistant Minister of Finance Ognjen Popović emphasized that the government’s priority is to enable innovators to access efficient and flexible financing channels, while ensuring legal and regulatory certainty.
"We are working to make Serbia a place where startups can quickly test their ideas, attract investors, and scale their businesses in line with European standards. Initiatives such as a regulatory sandbox and the modernization of the Law on Digital Assets demonstrate our active efforts to create a supportive environment for innovation," said Popović.
The Ministry of Finance has also submitted an initiative to the National Bank of Serbia to amend the Foreign Exchange Operations Law. A public consultation on a set of financial laws is expected soon, including the Capital Market Law, the Law on Open-Ended Investment Funds, and the Law on Accounting and Auditing, all aimed at alignment with EU regulations.
Popović also noted that, starting in May, Serbia will join the Single Euro Payments Area (SEPA), which will simplify money transfers and reduce the cost of international transactions. He further announced ongoing work on the Law on Digital Assets and the development of a sandbox platform for testing digital solutions, while cautioning that excessive regulation could create barriers for small businesses.
At the panel, Aleksandar Bijelić, President of the Managing Board of the Serbian Venture Network, highlighted the need to establish a more stimulating framework for venture capital investment.
"High capital gains tax on alternative investment sources reduces investor motivation, making it more difficult for startups and young innovators to grow," Bijelić explained, adding that experiences from Bulgaria and other countries show that incentives are crucial for the development of venture capital funds and business angels.
The panel concluded that Serbia has significant potential for innovation development, but that infrastructure, a clear regulatory framework, flexible tax mechanisms, and incentives for alternative financing sources are essential to accelerate the growth of the digital economy and startups. The Ministry of Finance was recognized as a central actor in this process, with a clear plan and initiatives aimed at creating a competitive and innovation-friendly environment.
