The Ministry of Economy announced a public call for grants under the Financial Support Program aimed at the best 35 business ideas from young people under the age of 35. A total of 18 million dinars has been allocated for this purpose in the Republic of Serbia’s budget.
According to the public invitation, the funds are intended to help realize new business ideas from young entrepreneurs, in line with an approved business plan.
The goal of this program is to encourage young people to create and implement innovative ideas with the help of financial incentives. Individuals or teams consisting of a minimum of two and a maximum of five members, aged between 20 and 35 (born between January 1, 1989, and December 31, 2005), are eligible to apply for funding under this program, as announced by the Ministry of Economy.
The business ideas will be evaluated based on the following criteria:
- The significance of the problem the business idea aims to solve, and its contribution to the development of the relevant industry and market.
- The originality of the idea.
- The potential for application and development.
- The competencies of the team.
- The elaboration of the business idea.
After the expert service completes the evaluation process, the Minister of Economy will make a decision on which business ideas will receive free professional assistance from Accredited Regional Development Agencies. These agencies will help refine the business idea and develop a business plan, including a project budget.
In the second phase, selected applicants will submit a completed business plan with a budget to the Ministry of Economy. The Ministry’s expert service will evaluate the business plan based on the quality of the proposed idea’s implementation, the rational use of budget funds, and the project’s sustainability.
Applicants whose business ideas are selected in the competition can receive grant funds of up to 500,000 dinars.
Applications must be submitted in a sealed envelope labeled “Application for Public Call for Participation in the Financial Support Program for the Best 35 Business Ideas of Young People Under 35 – DO NOT OPEN,” with the sender’s full address on the back. Late or incomplete applications will not be considered.
The application deadline is March 15. Applications can be submitted in person or by registered mail to the Ministry of Economy.
The full text of the program, along with the Application Form and Instructions for participation, can be downloaded from the Ministry of Economy’s website.
