Today at the premises of the STEP RI Science and Technology Park, University of Rijeka we signed an Agreement on Financing the Commercialization of Innovation with the FIPRO Foundation, which will support the implementation of our project activities with 200,000 HRK over the next 6 months.

FIPRO will give us these financial resources for the implementation of the project titled “Modernization of the distillation still and production process”. We will also invest an additional 122,000 HRK of our own funds in this project.

Funds are allocated to finance the cost of developing and commercializing innovation; designing or procuring the necessary equipment, tools and materials to produce the innovation; the design, testing, refinement of a product prototype or service delivery process; market preparation, promotional activities, contracting and development of distribution channels; certification of products or services in order to enter the market and to search for state of the art, preparation and protection of intellectual property.

The funding was approved on the basis of a scoring by the Commission as part of the Foundation’s second public invitation issued by the Foundation between October 30 and November 29, 2019.

By awarding these funds from the ‘Commercialization of Innovation’ project, the FIPRO Foundation and the County of Primorje-Gorski Kotar (Administrative Department for Tourism, Entrepreneurship and Rural Development) have continued to support innovation. This has been their mission since 2009, when this project was launched. So far, the FIPRO foundation has supported 29 entrepreneurs by awarding them funds totaling almost HRK 2.8 million.

The Foundation Director Mr. Boris Golob said: “The Foundation continues to assist entrepreneurs in financing the commercialization of innovation in cooperation with the County of Primorje-Gorski kotar and the City of Rijeka. We hope that entrepreneurs who believe in the quality of their products or services will recognize this opportunity and follow the announcement of a public call for funding in the media and on the official website of the Foundation FIPRO and apply for funding.”

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