In 2019, Serbia exported 1.5 billion euro worth of IT products and services

Serbia exported 1.5 billion euro worth of IT and digital services in 2019, Minister of Innovation and Technological Development, Nenad Popovic said at the opening of the Innovation Talk 2020 conference.

He also announced the opening of a new chapter in the development of the Serbian innovation ecosystem, namely the development of a venture capital market that will provide more funding for startup companies and innovation.

Popovic stated that “so-called ‘VC’ financing is an important instrument for the development of the startup community and a mandatory part of any startup ecosystem.

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“In addition to providing the necessary funding, venture capital funds also help companies invest in other ways, such as connecting with partners and mentoring,” Popovic said.

He pointed out that employment data and the number of issued patents show that firms backed by ‘VC’ funds are more inclined to make a significant contribution to the overall economy.

“Serbia is also recognized in the global innovation ecosystem; there are more and more multinational companies coming here and opening their own research centres, but there is also an increasing number of Serbian startups attracting investments that are worth tens of millions of dollars,” Popovic said.

The Minister also assessed that “cooperation between the state, academia and industry is important, which should be open to absorb innovative solutions and enable their validation”.

“The engineering industry is the best we have today, and this is an opportunity for startup companies to use the chance to work with multinational corporations,” Popovic said.

He underlined that Serbia has been developing mechanisms for VC financing the startup community with its Israeli partners, while the Israeli ambassador to Serbia, Alona Fisher Kamm, said such funds continue to be a major source of influence on capital in local startups.

(Danas, 03.02.2020)

This post is also available in: Italiano

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