Pathways to Bioeconomy and Bioconvergence Perspectives from Serbia and Israel 2025

The power of ICT in economic growth The ICT sector is massively important for the European economy. It represents 4.8% of the European economy, 25% of business R&D spending and 50% of EU productivity growth.23 The Serbian Government has aligned with this vision by investing in digital infrastructure, supporting ICT education and workforce development, and establishing institutions such as the Office for Information Technology and e-Government and the IVI.24 As a result, ICT exports hit €4.2 billion in 2024 (an increase of over 20%) and are on track to exceed €4.5 billion in 2025. The sector recorded a €3.23 billion surplus, employs over 109,500 professionals25 and contributes 10% of Serbia’s overall gross domestic product (GDP).26 Additionally, the average monthly ICT salary reached €2,511 in 2024 – more than double the national average salary of €1,187.27 From 2018 onwards, Serbia’s GDP growth has consistently outpaced the EU average. According to a study, Serbia’s GDP has grown 2.5 times faster than the EU average since 2018. This accelerated growth positions Serbia among the top-performing European economies in recent years. 28 GDP growth rate in Serbia and the EU 2014-2022 FIGURE 4GDP growth rate (%) 2014 2016 2018 2020 2022 Serbia GDP growth (%) EU average GDP growth (%)–4028 –66 4 –2 Source: Trading Economics. (n.d.). GDP Annual Growth Rate Europe; Statistical Office of the Republic of Serbia. (2024). Economic trends in the Republic of Serbia, 2024.The ICT sector represents 50% of EU productivity growth.50%CASE STUDY 1 Mammography Project The Mammography Project, funded by the Ministry of Health and led by the IVI and the Institute for Radiology and Oncology of Serbia (IORS), uses AI to enhance breast cancer detection. The IVI developed an AI model, which: –Analyses mammograms –Predicts malignancy likelihood –Assigns a breast imaging reporting and data system (BI-RADS) score to assist physicians Initially trained on public datasets, the model was fine- tuned with IORS data and expert feedback. It can function as a standalone web application or be integrated into a national healthcare system. Pathways to Bioeconomy and Bioconvergence 11