What Is a Startup, and What Is a Business Angel? – These Are the Rules of Registration in Serbia

The Management Board of the Innovation Fund has adopted the Rulebook on the Register of Subjects of the National Innovation System, which determines the conditions for being listed in and deleted from the register.

The aim of the rulebook is to provide insight into the state of the innovation system and to be the basis for supporting the subjects.

A startup can be listed in the register if it is registered as a company (if it wasn’t created through the status change of a separation or a merger) or an enterprise with the headquarters in Serbia and if no more than 10 years have passed since its founding and more than five years from the date of the realization of the first operating income. A registered startup cannot be subject to bankruptcy of liquidation proceedings.

Additional requirements for the registration of a startup are that the costs of maintenance and development comprised at least 10% of the total expenditures in each past year, if the applicant has no financial history, the commission, which is formed by the fund, decides on the request based on an estimate in line with the defined criteria whether the applicant is developing an innovative product, service, or technology and whether it has the potential for a quick and big growth, it is said on the Enterprise Portal (Portal preduzetnistva) of the Ministry of Economy.

Business angels who have adequate expert knowledge based on which they are able to understand the risk of investing in a startup, may also be listed in the register.

They can only be registered if, in the past three years, they have invested monetary funds in the amount of at least EUR 5,000, or an equivalent in another currency, in one or more Serbian startups. That these requirements are met is confirmed by the Statement of the Meeting of the Requirements for the Listing of a Business Angel in the Register, as well as a valid document based on which the subject of the investment can be determined, as well as whether the invested funds have been received.

The entire Rulebook on the Register of Subjects of the National Innovation System can be found HERE.

Fond za inovacionu delatnost Beograd

Innovation Fund

business angel

Register of Subjects of the National Innovation System

Rulebook on the Register of Subjects of the National Innovation System

startup registration

business angel registration