Describe the main features of the policy/measure:
The Provincial Secretariat for Economy and Tourism issues an annual public call for support to micro and small-sized companies and entrepreneurs operating within creative economy in the form of subsidies for the costs of purchasing machinery, software, raw materials, consumables, or services. The goal is to support companies operating within creative economy as an important segment for the development of the overall economy and entrepreneurship in the AP of Vojvodina.
Funding is approved on a refundable basis. Machinery, equipment, and software must be brand new or, on rare occasions, used but not older than five years, and intended for professional usage in accordance with the activities of the economic entity.
The right to apply have companies and entrepreneurs based or with a branch in the AP of Vojvodina, entered in the register of the Business Register Agency.
Website of the policy/measure, if available:
What are the results achieved so far through the implementation of the policy/measure?:
In the period 2017-2020, there was great interest in this call, especially in 2020, when there were three times more projects approved for funding than in previous years. A total of 178 projects were approved in the entire period: 25 in 2017, 47 in 2018, 33 in 2019, and 73 in 2020 (42 were covered by capital subsidies and 31 by ongoing subsidies).
Financial resources allocated to the policy/measure in USD:
For the period 2017–2020, via the call for the allocation of grants to micro and small-sized companies and entrepreneurs operating within creative economy in form of subsidies for the cost of purchasing machinery, software, raw materials, consumables or services, a total of 730,601 USD (75,800,000 RSD) were allocated: in 2017, around 140,187 USD (15,000,000 RSD); in 2018, around 193,000 USD (19,300,000 RSD); in 2019, around 123,810 USD (13,000,000 RSD); and in 2020, around 276,699 USD (28,500,000 RSD).
Partner(s) engaged in the implementation of the measure:
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Partners involved in the implementation of this measure as beneficiaries of funds for projects are companies and entrepreneurs based or with a registered branch in AP Vojvodina.
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Has the implementation of the policy/measure been evaluated?:
YES
If yes, what are the main conclusions/recommendations?:
A professional commission formed for the purpose of deciding on the allocation of funds within the call forms a single list of both approved and unapproved projects, classified according to the evaluation based on the fulfillment of criteria defined by the call. Relying on the results of the work of the professional commission, the Provincial Secretariat for Economy and Tourism evaluates the success of the call. A very important indicator is the number of projects submitted to the call. Since 2017 there has been a significant increase in the number of projects that received funding through this call. In 2020, almost three times more projects were approved than in 2017. There was also a significant increase in funds allocated for projects—in 2020 the amount of funds was almost doubled compared to 2017. The increase in the number of submitted projects, as well as in funds, is an indicator of the success of the policy and the commitment of provincial authorities to direct money to support businesses operating in the creative economy, to contribute to the development of the overall economy and entrepreneurship in the AP of Vojvodina.