Innovation and Media Fund Activity in Serbia

Background
USAID/Serbia aims to support the establishment of an investment vehicle (the Fund) that will focus on financing innovative products and services in the media, information, and communications sectors in the West Balkans region.

Grant Details
To support a Fund that will make investments in products and services that directly or indirectly increase citizens’ ability to access information or increase critical thinking skills with a focus on small and medium-sized enterprises; new and existing companies that provide media, information and communications services; industry stakeholders, including entrepreneurs, that develop supporting technological infrastructure and architecture, or increase innovation in the media, information and communications space for consumers and businesses; and personal and organizational ability to safely and securely utilize digital technologies and platforms.

Eligibility Requirements
This funding opportunity is open to all entities. The Recipient will be required to leverage additional funds for the project, by attracting third party capital investment. USAID expects the Recipient to maintain a leverage ratio of at least 1:1 during the life of its cooperative agreement with USAID.

Period of Performance
USAID’s initial involvement in the Fund is planned for five (5) years. Subject to availability of funds, Fund performance, USAID involvement can be extended up to a maximum of additional five years to a total of ten years.

Grant Value
USAID intends to provide approximately $8,000,000. Potential additional USAID funding made available to further capitalize the Fund subject to the success of the Fund to address the purpose set above, and the availability of funding.

Place of Performance
The geographic reach of USAID’s grant is the Western Balkan six (WB6) region countries (Bosnia and Herzegovina, Serbia, Montenegro, North Macedonia, Kosovo and Albania), where USAID has current assistance programs.