Pathways to Bioeconomy and Bioconvergence Perspectives from Serbia and Israel 2025

1 The Government of the Republic of Serbia acknowledges that the Fourth Industrial Revolution is reshaping the world and transforming nearly every aspect of human life. Serbia identifies digitalization, research excellence and strategic policy-making as the core pillars of building a sustainable, bio-based economy. To advance its bioeconomy, Serbia has prioritized AI, biotechnology and its information and communication technology (ICT) infrastructure, and formulated a strategic vision for creating an innovative digital ecosystem. The country aims to strengthen its position in the international market and become a leader in digital transformation in the region. In recent years, Serbia has taken significant steps towards building a knowledge-based economy by enhancing its framework for innovation and technology development. These efforts have improved Serbia’s international innovation ranking and accelerated the growth of its start-up ecosystem. According to the Global Innovation Index 2024, Serbia ranks 52nd among 133 countries in innovation.7 Additionally, the European Innovation Scoreboard 2024 places Serbia second out of 39 countries in innovation performance growth, with an increase of 4.4 percentage points compared to the previous year.8 Over the past decade, Serbia has harnessed its rapidly advancing ICT infrastructure to accelerate innovation across multiple sectors. The ICT sector is one of the main pillars of Serbia’s economic development and, in 2024, ICT service exports reached €4.2 billion (10 times more than in the prior decade). This growth has been primarily enabled by Serbia’s digitalization strategy, which actively integrates advanced technologies into the bioeconomy, positioning it as a key driver of sustainable economic growth.9 By aligning ICT, biotechnology and AI, Serbia is transforming its economy and emerging as a key contributor to the global biotechnology and bioeconomy landscape.10 Through the development of an innovative and digital ecosystem, Serbia is demonstrating that even smaller nations can become influential players that shape the future of these strategic industries. Serbia’s vision for a bioeconomy Serbia is making significant strides in biotechnology and sustainable development by harnessing strong digital foundations and bioeconomic regional leadership. 00.511.522.533.54 YearMarket value (billions) 2024 2015 2023 2022 2021 2019 2020 2018 2017 2016 2014 2013 2012ICT export value in Serbia 2012-2024 FIGURE 1 Source: National Bank of Serbia. (n.d.). Balance of payments. Pathways to Bioeconomy and Bioconvergence 8