German Foundcenter Investment offering EUR 1 million for best business ideas – Competition open till July 1

Foundcenter Investment sets one condition – potential for expansion to the international market.

Milica Kolundzija, the fund's CEO, says for eKapija that 429 projects have applied so far. Depending on their quality, the million euros will be given either to a single project or split between several ideas.

- However, our interest in the selected idea doesn't stop with the investment. A million euros is not a large sum of money, if there are ambitions for the company to become internationally viable. The fund will act as a strategic partner to the project and will, if need be, continue to invest during the second and third phases. It's the so-called seed funding – says eKapija's interviewee.

Kolundzija explains that projects in all areas are allowed. Business ideas, innovative products, art, design and mobility products are all welcome.

Those interested can apply directly at Fundcenter Investment's web site.

The grand finale will be held at the Yugoslav Film Archive at the end of September, when the leading experts and German investors will decide which ideas will get investments up to EUR 1 million.

One of the projects in Serbia in which Foundcenter Investment has invested so far is the Pension Service. This complex system provides a vast array of services to pensioners and members of their households, enabling them to increase the standard of living, level of informedness and the participation in social activities.

They've also invested in an innovative product – fire-retardant gel.

Kolundzija says that the fund is open to quality projects 365 days of the year, i.e. even after the competition has ended.

- After we receive the application, we act within 7 days and give guidelines as to what needs to be prepared for the direct meeting with the investors – says Milica Kolundzija.

J.Dj.