Grant to help spark innovation and new products among SMEs

Kraljevo, April 19, 2012 - A $38,000 Sustainable Local Development Project (SLDP) grant to promote modern design technologies among manufacturers in the Kraljevo-led inter-municipal cooperation (IMC) area will leverage another $1 million in EU funding to spur new product development, align university research with industry needs, and establish a business innovation center to serve small and medium enterprises (SME) in the Kraljevo-led IMC. 

The grant to the association Initiative for Local Development will be used to purchase basic portable IT equipment and software to deliver presentations on new technologies at the center and at participating SME in three districts throughout the IMC area and beyond (Morava, Raska and Rasina Districts). 

This effort is part of the larger Innovation Management for New Product program (IMPuls), which brings together academics from the Kraljevo Faculty of Mechanical Engineering and industrial development professionals to facilitate innovation and improve competitiveness to build a stronger knowledge-based economy.