A new partnership of businesses in Serbia is undertaking an initiative to modernize entrepreneurship within the country. 

And to that end, the nonprofit private partnership Digital Serbia is being driven forward to allow for change at high speed.

Kunal Soni, assistant manager of investment research and analytics at Aranca, thinks these types of efforts are critical and important these days.

“Innovation is key to success and growth for any economy, and any initiative taken by an organization, profit or nonprofit, is to be appreciated by people,” Soni told Balkan Business Wire.

Soni said the Serbian project shows great potential.

“Following on the lines of Digital Switzerland, Digital Serbia has a good exhaustive manifesto, which if fully achieved, will change the face of the nation,” Soni said. “It has been established as an association, bringing leading technology, IT and telecommunication companies together to drive digital innovation for Serbia and its people.”

Soni cited participating companies like Infostud; Microsoft; Nordeus; PwC, also known as PricewaterhouseCoopers; Ringier Axel Springer; Seven Bridges; Startit; Telekom Srbija; and Telenor as backing this new project.

“(With these companies) on board, the founding team looked sharp and focused on the mission,” Soni said.

However, the initiative might not be without its challenges, Soni added.

“The road map to achieve it needs some clarification,” Soni said. “Issues such as the political will to change, investment inflows, local investors, policy framework and other ambitious projects … will take a right amount of time to bring the desired change in the society and meet the expectations set by the initiative. We also need to understand that moving along the path of Digital Switzerland could be very different and challenging in a country like Serbia, as the difference between a developed and developing economy will play a crucial role here.”

Comparing Serbian communities to those in places like England, France and Switzerland is not a  level playing field, particularly when assessing the state of education and other factors, Soni said.

“Having said that, the involvement of the government will surely help Digital Serbia to see some early success, but over a long run, this relationship needs to be stable and supportive towards the changes mentioned in the manifesto,” Soni said. “Overall, the initiative is expected to show some change and positive environment towards the entrepreneurship and innovation in Serbia, but sustainability, the roadmap, and the pace of that change would be key factors to drive long-term success for Digital Serbia.”