This project is funded by the European Union (EU) and is implemented by WYG International on behalf of the EU Delegation to Republic of Serbia.

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Virtual incubator program for SME’s


Identification details
Official title of the project Virtual incubator program for SME’s
Region/ City

Republic of Serbia,

Region of Sumadija and Pomoravlje

Sector(s) Employment training, SMEs
Budget / EC contribution EUR 159,245 / EUR 142,045
Implementation period

24 months

Expected results

-Developed and functional Virtual Incubator Program; web portal is activated, virtual offices established; best practice from the EU incubator applied;

-Built capacity of BIC staff to manage and to expand the activities and the reach of the Virtual Incubator Program;

-Developed and established IT training centre to fulfill the needs of SME’s, potential VIP clients and graduates;

-Developed, customized and delivered a set of modules on entrepreneurship for students and graduates and;

- Organized competition for best entrepreneurial student idea

Beneficiary Biznis inovacioni centar d.o.o. Kragujevac

Lead partner: Biznis inovacioni centar d.o.o. Kragujevac

Partners: City of Kragujevac,Serbian;Faculty of Economics,Serbian; Faculty of Mechanical Engineering, Serbian; General association of entrepreneurs „Sloga“, Serbian; Faculty of Law, Serbian;

Contact details

Please include if applicable:

  • Project Manager
  • Project Administrator
  • Executive director
  • Web site of the project
 Dragan Rankovic and


Summary of the project There are unfavorable indicators of economic activity of the Sumadija and Pomoravlje region, specifically high unemployment rate, low level of SME development, b high mortality rate of start-up companies as well as insufficient level of cooperation between the industry and the university. The high mortality rate of start-up SME’s in the region is mainly caused by high overhead costs and insufficient funds for the development of products, services and markets. The project will apply a unique approach and create such business support service to the SME sector which will decrease the initial costs of SME’s and minimizing the threat of failure in start-up phase. In general, VIP for SME’s is designed as web based service and resource centre for the support in growth and development of start ups, spin-offs and the existing businesses without geographical constraints. This approach significantly reduces the overhead costs and enables companies to grow and become more competitive.
Main goal of the project

 Improvement of business related infrastructure in order to support the development of existing and creation of new enterprises and to contribute to reduction of unemployment in the region of Sumadija and Pomoravlje;


Specific objectives

-To establish a functional Virtual Incubator Program (VIP) for SMEs and students with a focus on interactive web portal and IT training center;

-To exchange best practices with the partnering EU incubator through knowledge transfer;

- To build the capacity of partners to support the improvement of business infrastructure through customized training and networking activities

-To develop a mechanism for creating startup companies to be founded by graduates from the local university