2.3 million EUR of Funds available for Innovative Ideas

studentsCompanies that have an innovative idea can apply on the program Challenge for Change (C2C) for funds in the amount of 2.3 million EUR. Funds are available for micro, small and medium enterprises as well as start-ups.

Startups that have been registered for at least 6 months and not more than two years, will be able to get the maximum amount of 10,000 EUR, while the micro, small and medium-sized enterprises, with up to 250 employees, will be able to get the maximum amount of 30,000 EUR.

When it comes to innovation, it does not have to be an innovative product, but it can be innovation in business or business approach, but it is important for this idea to be competitive in the market.

Sefkija Okeric, director of SERDA, which is the leading partner in the implementation of this project, said that they expect about 150 companies to use these funds. Companies must prove the innovative idea for a product or service.

“Around 32 % of our companies are using innovation in their processes, and we expect this percentage to be further increased after the implementation of this project,” he said, adding that this is very important for progress and employment because companies that are using innovations are much more competitive in the market.

“The project cannot last longer than 12 months, and its effects have to be visible in BiH. The companies will have to participate with the same amount of their own funds for the amount of requested funds, ” noted Dzevlan.

He notes that the project is open for applications of companies from Sweden as well, especially those that are in possession of BH diaspora.

(Source: akta.ba)


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