osnivati

1. to found; to establish; to set up
   U Srbiji se svake godine osnivaju hiljade firmi. — Thousands of companies are set up in Serbia every year.
   Studenti osnivaju novo udruženje. — The students are founding a new association.
2. (of a family) to start a family
   Mladi danas sve kasnije osnivaju porodicu. — Young people today are starting families later and later.

The perfective is osnovati.