March 14 (SeeNews) - The Serbian government, the World Bank and the EU are providing a 750,000 euro ($804,200) grant to support startup businesses in Serbia through the Catapult acceleration programme, the technology ministry said.
Through Catapult, in addition to the support that startup owners can normally receive through the Fund for Innovation Activity, they will also improve their practical skills and prepare for the harsh global market of entrepreneurship that awaits them, technology minister Jelena Begovic was quoted as saying in a press release.
Launched by the Innovation Fund of the Republic of Serbia, Catapult is an acceleration programme that supports early-stage growth-oriented innovative companies to scale up their business. Since the launch of the programme, 40 innovative startups have been supported.
The programme is financed by the Serbian government through a a 7.7 million euro World Bank loan with implementation support, and a 10 million euro EU grant.
($ = 0.9326 euro)