November 24, 2023
In addition to providing Montenegrin companies with the opportunity to finance the development of their innovative ideas through grants, the Innovation Fund of Montenegro is building strong relationships with international partners to better position Montenegro on the European innovation map.
Bojana Femić Radosavović, Executive Director of the Innovation Fund, was elected as Vice President of the Committee on Innovation, Competitiveness, and Public-Private Partnerships (CICPPP) in Geneva in May of this year, gaining the opportunity to represent Montenegro in this important body of the United Nations Economic Commission for Europe (UNECE). Subsequently, in September of this year, UNECE, together with the Regional Cooperation Council (RCC), organized a high-level conference in Pržno on the topic: “Strengthening and Uniting the Western Balkans: The Role of Transformative Innovations in Supporting Green and Digital Transformation.” The conclusions of that conference were presented by the Fund’s director at the 15th meeting of the Team of Specialists on Innovation and Competitiveness Policies (ToS-ICP) of the United Nations Economic Commission for Europe (UNECE) held on November 22 and 23, 2023, at the Palais des Nations in Geneva. Additionally, together with the program manager at the Fund, Saša Ivanović, she represented the Montenegrin delegation at the conference: International Policy Dialogue on: “Digital and Green Transformations: Exploring the Strategic Dynamics of Experimentation and Learning.”
In addition to active cooperation with UNECE, the Fund has achieved another significant result in the field of international cooperation. Namely, the “Collaborative Grants for Innovation” program has been accredited by the European Innovation Council (EIC) for the implementation of the Plug-In scheme within the EIC Accelerator program. This is one of the three main innovation programs of the EIC (alongside Pathfinder and Transition) and is aimed at supporting micro, small, and medium-sized enterprises, startups, and spin-off companies in developing revolutionary innovations with the potential to create new markets or initiate changes in existing ones.
For the Fund, this accreditation is extremely important as it confirms that all rules and procedures relating to the evaluation and selection of projects for funding are clearly defined, transparent, and in line with EU rules. On the other hand, this opens the possibility for Montenegrin companies to access significant funds more easily and quickly, which are channeled through the EIC Accelerator program at the European level. Thus, this accreditation provides additional opportunities and resources that will contribute to strengthening the innovation potential of users of our accredited program.
The effectiveness of the Fund and its contribution to strengthening the innovation climate in Montenegro is evidenced by the European Commission’s report on Montenegro for the year 2023, specifically the part related to Negotiation Chapter 25 – Science and Research. Citing that Montenegro, with a high level of preparedness, has made significant progress compared to recommendations dating back to the 2022 report, highlighting the Innovation Fund of Montenegro, being fully operational and active, as a key actor with its program lines to support innovation.
“Through establishing partnerships, we are opening the doors to the international innovation community,” emphasizes Bojana Femić-Radosavović at the end and adds, “From my position as Vice President of the UNECE Committee, I will proudly represent the link between this prestigious organization and our country. May this collaboration serve as an example that innovations firmly lay the foundations for a sustainable and prosperous path towards the future. Our accredited Collaborative Grants for Innovation program will be open again next year, and our plan is to accredit other programs at the European level.”
Additional Information:
✓ The United Nations Economic Commission for Europe (UNECE), as a multilateral platform, facilitates economic integration and cooperation among its members, promotes sustainable development and economic prosperity through policy dialogue, negotiation of international legal instruments, regulation and norm development, exchange and application of best practices, as well as economic and technical expertise and technical cooperation for transitioning countries.
✓ UNECE contributes to enhancing the efficiency of the United Nations through the regional implementation of the results of United Nations global conferences and summits. It focuses on United Nations global mandates in the field of economics, in cooperation with other global players and key business communities. UNECE also sets standards, norms, and conventions to facilitate international cooperation within and outside the region.
✓ The European Innovation Council (EIC) represents the most ambitious innovation initiative that Europe has undertaken, with a budget of 10 billion € for the period 2021-2027 and a specific focus on expanding solutions that contribute to achieving the goals of the European Green Deal and the Recovery Plan for Europe.
The Plug-In scheme of the EIC Accelerator program is a novelty and is applied only to project proposals coming from companies that are grant winners within nationally accredited programs. Companies are assessed based on innovativeness, growth and development potential, and team quality.
Follow the Innovation Fund of Montenegro on social media: LinkedIn, Facebook, and Instagram.
