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Integrated Innovation Support Programme

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The Integrated Innovation Support Programme (IISP) aims to enhance the venture capital landscape in Serbia. In collaboration with key stakeholders such as private equity firms and government initiatives like the WB EDIF and EBRD BAS, the IISP identifies barriers to investment and proposes solutions. The program focuses on creating new financial instruments, developing regulatory frameworks, and facilitating investment readiness training for SMEs. With a concerted effort from both public and private sectors, the goal is to drive growth and foster a thriving startup ecosystem in Serbia.

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Integrated Innovation Support Programme

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  1. Integrated Innovation Support Programme Encouraging the Serbian VC industry Robert Sheffrin - 14th May 2013

  2. Current Situation – “Serbian Dawn” • Private equity & venture capital activity • Increasing international & local investor interest • Barriers to investment & potential solutions identified • Pro-active private sector– SPEA, SBAN, BVF • Public Sector initiatives: - WB EDIF / EBRD BAS - IISP: EU programme to develop venture capital - Min of Finance & Economy driving regulatory change Integrated Innovation Support Programme (IISP)

  3. EU IISP Project Component 2: Development of New Financial Instruments • Research, report & recommend VC best practice • Develop regulatory & funding mechanisms • Develop & launch investment readiness training • Develop an innovation voucher scheme Integrated Innovation Support Programme (IISP)

  4. IISP - Research & Reports Tax & regulatory Barriers to investment EU Bench -marking Strategic Options for Serbia Financial intermediaries Mezzanine finance Integrated Innovation Support Programme (IISP)

  5. Serbia - Key Regulatory & Tax Recommendations Specific: • Regulate venture capital funds • Permit investment by Serbian institutions in venture capital • Facilitate exits from venture capital investments • Eliminate double taxation of investors • Tax breaks/incentives for investors General: • Tax incentives for SMEs • Fiscal consolidation & reform of para-fiscal charges ACTION - Regulatory Working Group formed Integrated Innovation Support Programme (IISP)

  6. IISP Investment Readiness Programme Remit: Investment readiness training for 100 SMEs Objectives: • Increased awareness • Investment ready SMEs • Proposals for WB EDIF funds; other VC funds; angels; Belgrade Venture Forum; banks Continuity: • 10+ investment readiness trainers trained • Legacy programme for on-going delivery Integrated Innovation Support Programme (IISP)

  7. Target Groups Phase 1: “Finance 4 Growth” – 100 SMEs • Programme: 2 day workshops • Any innovative, growth orientated SME requiring investment Phase 2: “Investment Accelerator” – 20 SMEs • 2 days additional training + follow on coaching • For SMEs with effective business strategies in place + • Need to focus on clarifying investment offer, preparing pitch, handling due diligence, investment negotiation Integrated Innovation Support Programme (IISP)

  8. Conclusion • A time of real change • Complementary EU initiatives • Public and private sectors have same goal • Expect gradual meaningful progress Integrated Innovation Support Programme (IISP)

  9. Thank you! Contact: Robert Sheffrin EU Integrated Innovation Support Programme for Serbia E. robert.sheffrin@iisp.rs / robert@sheffrin.co.uk T. +381 63 899 5821 / +44 772 071 5101 Integrated Innovation Support Programme (IISP)

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