TRANSFORMATION OF THE INSTITUTE OF ECONOMIC SCIENCES

The Institute of Economic Sciences (IES) has started the transformation process through the Serbia Accelerating Innovation and Growth Entrepreneurship Project (SAIGE Project). The SAIGE Project is being implemented in accordance with the Law on Loan Agreement Ratification ("Official Gazette RS - International Agreements", No. 3/20) and the Law on Science and Research ("Official Gazette of RS", No. 49/ 2019). The SAIGE Project Implementation Unit provides full support (PIU).

The transformation process of the Institute of Economic Sciences officially began on October 21, 2022, with the signing of the Memorandum of Understanding on cooperation and support to the institutional transformation process (MoU) with the Ministry of Education, Science and Technological Development of the Republic of Serbia (Ministry). An agreement on financial support in the institutional transformation process was signed between the Ministry and IES based on the Law on Loan Agreement Ratification between the Republic of Serbia and the International Bank for Reconstruction and Development (IBRD) and MoU. This Agreement is carried out in accordance with the plan and timetable for implementing activities, as well as the transformation milestones and targets specified in the MoU. The Institute of Economic Sciences initiated and applied for the transformation process on its own initiative. IES independently assessed its capabilities, work outcomes, funding sources, collaborations, and other business-related issues in 2020 using the Ministry's questionnaire. Following an independent assessment of its capabilities, IES expressed interest in continuing to participate in the process, which includes an external international expert evaluation and the development of the Transformation Plan. Twenty institutes were chosen during the selection process. IES was chosen to be part of the transformation process's third group of institutes. The IES Transformation Plan (Plan), which INOMER developed and agreed upon with IES management, guides the transformation process. The plan presents a map of IES's transformation over the next three years.. It is a document that can be developed and adapted to contextual changes over time. The Transformation Plan is Annex 1 of the MoU, while Annex 2 contains defined goals and milestones for the first year of transformation.

Professional assistance, capacity-building assistance, and knowledge transfer will be provided as part of the transformation process. Moreover, various employee trainings will be organized, and assistance will be provided in organizing study trips and short-term employee exchange programs. IES will be assisted in establishing collaboration with other research institutes in the transformation and in forming collaborative working groups, as well as in organizing workshops, seminars, conferences, and other activities in accordance with the Plan.

The goal of the Transformation Plan is to transform the IES into an internationally recognized institute by improving the relevance and excellence of its research and innovation activities, which will have a high socioeconomic impact. By implementing this plan, the IES will (1) adopt best-in-class research and innovation management practices, (2) develop diverse and high-quality sources of research and innovation funding, and (3) identify and invest in the development of high-value strategic research and innovation targets and related initiatives that, among other results, create substantial economic and social outcomes.

The implementation of the transformation plan will also guide the IES in developing a strong and dynamic organizational framework and culture, effective strategies, mechanisms, and tools, resource-efficient infrastructure operations, and well-established partnerships with stakeholders in local and national innovation ecosystems, as well as within the European Research Area (ERA).

An International Institutional Consultant (IIC) and a National Institutional Consultant (NIC) were appointed to assist with the implementation of the IES Transformation Plan. The assignment of IICs and NICs is driven by the needs of the IES and the specific capabilities and experiences of the consultants. These consultants bring years of international and domestic experience in R&D management and their primary focus is to provide strategic guidance to the IES during the transformation process. IES forms an International Advisory Board (IAB) to support the transformation process. The IAB's role is to advise the IES on how to achieve greater success (both short- and long-term) in relevant domestic, European, and international markets. The Transformation Team (ТТ) assists IES in implementing its transformation Plan. The Transformation Team prepares required information and materials and communicates with employees. Dr Sonja Đuričin leads the IES Transformation Team.

During the transformation process, the IES will actively collaborate with the Ministry and other RDIs to create the conditions required for achieving research excellence, high-value innovations, and their transfer to the economy and society. Through the transformation process, IES will be able to provide the inputs for the enhancement of the relevant institutional framework at the national level.