22 startups awarded with a total €3M by the Serbian Innovation Fund

Photo credit: http://www.inovacionifond.rs/

Serbian Innovation Fund awarded 22 startups with a total of 3 million Euros, startit.rs reported. On top of this, the Fund announced two new calls for an additional 2.5 million Euros to be allocated as a support to innovation activities made by enterprises in cooperation with research organizations.

The awarded startups are part of the two programs that are implemented by the Fund: the Mini-Grant Programme and Matching Grants Programme.

According to the Fund’s Press Release, within the first programme, which is dedicated to the startups only,  13 projects were awarded, out of 143 applications, with a total of one million Euros, or 80.000 Euros per startup.

The second Programme, which is two million Euros worth, supports 9 projects, out of 75 applications made by enterprises with significant investments in R&D programs. Respectively, each enterprise will receive 300.000 Euros.

Who are the winners?

Within the first program – Mini-Grant Programme – the winning startups are as follows:

Food Group MSP 

  1. Food Group SME is developing a new concept of cooling the food, which is by evaporation made by small and medium-sized cooling installations. By using the innovative dual-system approach, this solution contributes to significant energy savings, reduces maintenance costs, expand the lifespan of refrigeration units and has a positive impact on the environment.


A friendly, intuitive and easy to use cloud-based accounting software designed for small businesses, meeting their accounting needs and automating repetitive tasks. This startup brings to the lump-sum tax agencies a solution for their everyday business needs in one place: personalized professional documents, following legal procedures and requirements, payments of expenses within the app and the support of our professional team, available 24/7.

Box System 

Box System creates an innovative transport solution of fresh goods and food. Their transport container is made exclusively of natural materials and is an alternative to Styrofoam products. In addition to minimizing the potential for contamination of contents, negative environmental impacts are minimized, both in the production process and in the final disposal of the product.

Healthy Solutions

Healthy Solution is developing an innovative solution for recording ECG, collecting and analyzing large data that will have its application in determining general heart health and level of stress, while at the same time allowing monitoring and counseling to the patients. The system seeks to convert biomedicine into an audio signal, thus analyzing the signal in real time and to provide efficient management of the collected data.


Founded in 2018, INNSONO as a spin-off of a Laboratory for Acoustics, Faculty of Electronic Engineering in Niš. Based on decades of scientific research in the fields of audio, acoustics, electrical engineering, and computer science, this startup develop innovative technologies for state-of-the-art, intelligent audio processing and analysis.


PWNRS is a game development studio that works on a new moving strategy game with a specific concept for various platforms and devices, which rewards players through a complex decision-making process and intuitive game mechanics.


UrbiGo develops GreenCube, an indoor smart gardening gadget for growing herbs and mini-vegges, while users control it through a mobile app that guides and awards them for plants progress. Green Cube is unique green assistant both for homes and offices. It is small but a mighty gadget that has integrated light for optimal plant growth, water level sensor in the reservoir and ambient temperature sensor built-in.

Heartpal Tech

Heartpal Tech is developing an innovative solution for the diagnosis of health conditions leading to a heart attack in order for patients to receive timely treatment, which is the most important factor for life-saving in emergencies of this type. The solution consists of a patent for a protected diagnostic device that can be easily used by patients and a diagnostic center.

Prikk Data

PRIKKDATA is a trusted IT service and outsourcing provider that develops an innovative compact scanner for digitization and archiving of documentation. Their Improved software solution and specific design of  V formats provide significant benefits for end users, especially in terms of speed and ease of scanning the related material.


Pulcap is a representation of innovative technology in the control of poultry red mite. Based on inert oils, it is applied as a water emulsion on cages and equipment. The application and physical mode of action ensure lasting and effective protection.

KOV Technology 

Serbian company building a mobile platform for road assistance services. This technology is designed to restore confidence in providing assistance on the road, to reduce stress that causes sudden failures, and thus making the outdated ways of providing half-way services on the way, often at astronomical prices, a history.

Glass Slipper

Glass Slipper is a new line of women shoes which combines carbon fibre with a specific design to provide for fast and easy change of high heels.

The projects that won 300.000 euros in the Matching Grants Programme are:

PropSafe by Alfa Klima

PropSafe is a disruptive design innovation for safe and lower cost implementation of the alternative to the ozone-depleting gases in the heat pump heating and cooling systems.

NT161 – Unmanned Aerial System by Composite Technology 

NT161 is a new aircraft project that improves on the NT150 platform. NT161 is designed as a modular aircraft that is able to meet multiple mission profiles: “plug and play” modules for each section of the aircraft, integrated avionics, easy to swap camera mounts, and optional fuel tanks, parachutes, batteries, etc. UAV will include a silent mode option for low altitude surveillance missions.

BEXEL Infrastructure Suite by Bexel Consulting 

Bexel Consulting is developing a software solution that will be used in for building complex tunnels with the possibility of rapid changes as construction progress and new geological information becomes available.

NAISSA Immuno Assay Monotest by NEOMEDIKA

NeoMedica from Niš offers a unique solution in order to significantly improve the classical ELISA test method. NAISSA Immuno Assay Monotest enables the collection of all the reagents required to perform the test using only one vessel, which, in addition to significantly simplifying the process itself, eliminates oxidation or contamination of the contents and influences the reduction of waste material.

Meterological Magnetron Based Radar Innovation by MTT AERO C&RT 

MTT AERO C & RT is developing a new high-performance receiver and control unit with the aim of modernizing existing meteorological radar installations. With the help of innovative algorithms and new signal processing methodology, this solution will enable savings for customers and significantly will impact the extension of the lifespan of the radar.

2.5D LAdar Device by Photon Optronics

Photon Optronics is developing a new hardware-software system that will enable high-quality image extraction and creation of spatial models under atmospheric conditions with difficult visibility (due to the presence of fog, smoke, snow, etc.) using pulsed laser technology. The system will find its primary application in the fight against fire, rescue missions, security systems and monitoring systems.

Clockify Glass by COING 

Coing develops a software solution Clockify that is the only truly free time tracker and timesheet app for teams. It lets teams track how much time they spend working with just one click. Users can track time using a simple online timer, or they can enter all their work hours at the end of the day in a timesheet.

New Bioregulators Based on Autochtonous Bacteria for Thinning of Apple Fruits by BIOUNIK 

Biounik develops an innovative organic bioregulator for apple cultivation to improve the process of fetal dressing. The aim of this project is to create two formulas, one containing auxin and one containing cytokinin, which will improve the yield of the first category fruits.

CardioNS by PANONIT 

Panonit from Novi Sad is developing a new portable, cost-effective, accurate and reliable ECG device for medical institutions and all individuals suffering from cardiovascular diseases. Cardions is simple, but fully featured, precise and reliable mobile multifunctional ECG device.  It is just a cable with USB connector on one side and ECG probes on the other. It is powered and controlled by the Android mobile phone or tablet via USB cable. USB connection provides more reliable data transfer in comparison to Bluetooth connection and it is also easier to establish a connection.