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Through Collaboration of Traditional and Innovative Economies Towards the First 'Unicorn' in Serbia

December 28, 2023

The Center for Digital Transformation (CDT) of the Serbian Chamber of Commerce will work together with the Ministry of Economy to strengthen the connection between innovative and traditional economies. The aim is to increase the number of innovative domestic companies, and potentially, by the end of next year, Serbia could have its first technology company 'unicorn', stated Predrag Nikolić, director of the CDT today.

- In partnership with the Ministry of Economy, we will expand our scope of activities as there is a lack of interaction between the innovative and traditional economy. Through the CDT, we will try to improve and strengthen this, aiming for the number of innovative Serbian companies to increase, and perhaps even next year, we could have our first 'unicorn' in Serbia - said Nikolić, after visiting the newly opened Innovation Hub of the CDT with Slobodan Cvetković, the Minister of Economy.

The delegation of the Ministry of Economy was presented today with the challenges brought by digital transformation, as well as the results achieved by the CDT in the past five years.

- So far, we have managed to implement over 800 technological solutions in the small and medium sector, serving about 4,500 companies - emphasized Nikolić, adding that CDT will put additional focus on large companies in the coming period, which he says are the drivers of economic development.

Nikolić reminded that since the start of its operation and the publication of the first call for the economy to participate in digital transformation, there has been great interest in the services of the Center, in terms of consulting, training, and implementation of technological solutions in companies.

Slobodan Cvetković, the Minister of Economy of the Government of Serbia, says that the CDT helps companies and individuals to bring innovation to the final product.

- The CDT requires us to initiate and enhance all processes within the economy towards digitalization and the fourth industrial revolution, and we might even be on the threshold of the fifth industrial revolution - said Cvetković.

He emphasized the need to improve the collaboration between science and economy.

- Science has certain achievements that are not implemented in the economy, and on the other hand, the economy has needs for the implementation of certain scientific and technological achievements that can help it gain an additional degree of competitiveness - pointed out Cvetković.

Tijana Sekulić, a consultant at the CDT, explains that the Center helps companies to focus on their digitalization priorities and determine everything that can help them be more efficient in their business, develop new products and services or new business models, and create a company development strategy.

Snežana Obradović, director of the company 'Aleđo', which deals with machining, making parts and assemblies on CNC machines, says that the funds received through the CDT were used to purchase new software that contributed to a faster and simpler production process in that company.

The Center for Digital Transformation (CDT) has 68 certified consultants for digital transformation and five for artificial intelligence. More than 4,500 companies have been registered for the digital transformation program, and 800 solutions from the field of digital transformation and 30 from the field of artificial intelligence have been implemented. The program covered 23 different industries and is currently being carried out in 92 cities. The annual revenue generated by companies that have implemented the digital transformation project is about 272 million euros, and they employ more than 3,600 workers.

CDT's plans for the next year include developing artificial intelligence solutions for the tourism sector, regional expansion, expanding the base of certified consultants, connecting the IT sector with traditional industries, and supporting the development of the start-up ecosystem.

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