Since the beginning of its operational business in 2011, the Innovation Fund was led by the following acting managing directors:
- From February 3, 2011 until May 22, 2014 – Ljiljana Kundaković, PhD
- From May 22, 2014 until November 28, 2015 – Marko Atanasovski
- From November 28, 2015 until July 17, 2025 – Ivan Rakonjac, PhD
- From July 17, 2025 – Saša Lazović, PhD
