November 5, 2023

The Innovation Fund of Montenegro (the Fund) announces the list of approved projects within the Public call for Proof of Concept program. After completing the evaluation process, the Fund allocated a total of 236,010 euros to support projects from the specified program line.

Twenty-five companies applied for the Public call, which was open from May 8, 2023, to June 25, 2023. According to the evaluation process regulations, the Fund’s commission conducted an administrative check of each application, followed by the assessment of projects conducted by international experts, who were assigned projects based on the specific area of support. After evaluation, seven projects were selected, five from the Information and Communication Technologies sector, while one project was chosen from the Sustainable Agriculture, Food Value Chain, and Energy and Sustainable Environment sectors each.

The main goal of the Proof of Concept program is to support innovations in early-stage research phase in order to secure pre-commercial capital for technical and commercial proof of innovative concept, and to strengthen the capacity and capabilities of the private sector and research institutions for research, development, and innovation. Support is focused on projects with clearly defined expected results, in line with the Program’s stated objectives. The following table shows the list of approved projects with more information.

Table 1. List of approved projects for the program line: Proof of Concept

Applicant	Project name	Short description	Approved grant amount
Faculty of Electrical Engineering, University of Montenegro	Analysis of flexible electrical energy consumption potential for the establishment of first aggregator in Montenegro	Production of electricity from renewable sources (RES), such as solar power plants and wind farms, relies on the availability of natural resources and depends solely on weather conditions, such as sunlight and wind. However, significant balancing potential lies in efficient consumption management. Consumption management involves changing consumption habits among certain consumers using various methods, such as financial models or savings. This project will examine the potential of controllable consumption. Additionally, the results of this research will serve as a basis for the development of a unique concept of controllable consumption, known as an “aggregator,” whose results and economic feasibility will be presented at the end of this project.	34,330.00
Faculty of Electrical Engineering, University of Montenegro	E-navigation for Non-SOLAS vessels	The purpose of this project is to validate the concept of an E-navigation system for non-SOLAS vessels and to develop a prototype to confirm the concept in practice using the example of the Boka Kotorska Bay. Specifically, by using a smartphone or dedicated device (whose prototype would also be developed as part of the project), GPS (Global Positioning System) signal, appropriate computer cloud platform, and the development of necessary applications, an E-navigation system would be designed to provide vessel users with insight into their own and neighboring vessels’ routes, information on maritime routes, dangerous or restricted zones or locations, and enable competent authorities to monitor the movements and identify these vessels.	38,620.00
“AMPLEKSA” LLC PODGORICA	Procijeni.me -> Machine learning-powered real estate appraisal platform	This innovative web platform aims to revolutionize real estate assessments through the integration of machine learning. The primary purpose of the project is to provide accurate, efficient, and transparent property value assessments and to create added value for appraisers, financial institutions, insurance companies, real estate agencies, public executors, and the general public.	26,200.00
“E&T HEALTHY BEE” LLC PODGORICA	Hygienic Water Dispenser for Bees	The project aims to prove the functionality of the innovative bee waterer concept, focusing on reducing beekeepers’ workload, improving bee health, and preserving the ecosystem. The hygienic bee waterer emphasizes ecosystem preservation and bee health improvement through innovative waterers. Data collected during the project will provide a clear answer about the success and functionality of the waterer, as well as provide guidelines for future research, potential investments, and project development.	39,750.00
“LOGATE” LLC PODGORICA	Prediction and recommendation models for loan tracking in banking	Prediction and recommendation models for banking collection processes will utilize artificial intelligence to improve collection processes in banks, reducing the risk of non-performing loans and improving customer satisfaction. The project goals are: to reduce the percentage of non-performing loans in the bank’s overall loan portfolio and improve overall customer satisfaction with bank services.	20,170.00
University of Montenegro	AIHeal-An Artificial Intelligence Healthcare System	The diagnostic platform based on artificial intelligence, which, with increased accuracy, provides doctors with monitoring of diagnostic decision-making protocols in an understandable way, with insight into all relevant facts. In this way, doctors receive a platform they can trust, ensuring better, faster, more reliable, safer, and more affordable medical care.	40,000.00
“DIGITALSMART” LLC PODGORICA	Solar Katun	The company plans to implement a multifunctional mobile, easily portable solar power plant designed to provide electrical energy anywhere. This power plant is designed to power a range of appliances that farmers use daily, from irrigation systems and electric fences for livestock protection to video surveillance systems for security and livestock monitoring. Additionally, solar power plants will enable the provision of a local wireless communication network as the basis for further digitization of agricultural and livestock production.	36,940.00

We will continue to monitor the development of these projects and are eagerly awaiting the results they will bring in the future.

 Innovations pay off!