Established in 2011, the Innovation Fund in Serbia aims to promote collaboration between research, technology development, and the economy. With support from the European Union, the Fund has allocated around EUR 13 million to enhance Serbia's innovation financing and integration with the EU. It enables Serbia to position itself as a leader in the region and establish connections with global markets. The Fund offers various programs, including early-stage development, innovation co-financing, collaboration between science and industry, technology transfer, innovation vouchers, and proof of concept. Additionally, the Fund manages the Venture Initiative for the Balkan Europe, an early-stage venture capital fund that invests in Estonia, Latvia, and Lithuania.