The Innovation Fund, in collaboration with the Chamber of Commerce of Montenegro, organized an Info Day on October 10th to present the Program for Encouraging Innovations in the Function of Energy Efficiency in Industry for 2024.
In her opening remarks, Milena Rmuš, a representative of the Chamber of Commerce, stated that the program, with a total budget of €2,300,000, is aimed at modernizing and improving Montenegro’s manufacturing industry through innovative solutions and enhanced energy efficiency.
It is expected that this support model will attract significant interest from the business sector, enabling companies in the manufacturing industry to invest in modernization, innovation, and energy-efficient business processes. This will contribute to the diversification of activities and strengthen the competitiveness of Montenegro’s industry, both in the domestic and international markets.
Bojana Femić-Radosavović, Director of the Innovation Fund, emphasized that the program is the result of successful inter-ministerial cooperation between the Ministry of Economic Development, the Ministry of Education, Science, and Innovation, and the Ministry of Energy, supported by a direct budget support package from the European Commission (EC) to Montenegro for overcoming the energy crisis, within the framework of the Instrument for Pre-accession Assistance – IPA III.
“This cooperation demonstrates that synergy between different institutions can create support programs aimed at clearly defined target groups, and such programs effectively address the issues identified in our economy,” she said.
She also mentioned that the public call was opened on October 1st and will close on November 11th, with a simplified application process for all programs.
“The Fund is already recognized in the community for its strong support to applicants. I invite you to follow all our activities and take advantage of the opportunity to participate in support programs,” Femić-Radosavović highlighted. She added that the Fund will also organize online “Open Door” sessions every Wednesday, starting from October 16th, from 9 to 10 AM, where all interested parties can obtain the necessary information about the program and application process.
Maja Jokanović from the Ministry of Economic Development expressed her satisfaction that the program, which was launched last year as a pilot, is now being fully implemented.
“The funds available, provided by the Ministry of Economic Development from its budget, amount to €2.3 million, including the remaining unspent funds from last year’s program implementation. I believe that this is a significant financial support at this time, which can further enhance the manufacturing industry,” she emphasized.
She also noted that this program is one of the key support instruments adopted for the period 2024-2028, opening numerous opportunities for further development.
“In addition to this program, the Ministry of Economic Development offers other financial and non-financial support mechanisms, with today’s focus being on the Program for Encouraging Innovations in the Function of Energy Efficiency in Industry, with a special emphasis on the manufacturing sector,” she said.
Jokanović invited attendees to take the opportunity during this and future events to ask questions and obtain all the necessary information, as well as to provide suggestions that will contribute to the creation of future programs.
Dragomir Marković from the Innovation Fund briefly presented the program’s objectives, application process, and evaluation criteria.
“The main goal of the Program for Encouraging Innovations in the Function of Energy Efficiency in Industry is to increase energy efficiency and/or the use of available renewable energy sources by micro, small, and medium-sized enterprises (MSMEs) in the manufacturing sector through the introduction of innovative technologies,” he explained.
According to him, MSMEs from the manufacturing sector can apply for non-refundable financial support ranging from €50,000 to €200,000. These funds are intended for the purchase of production equipment, the introduction of smart and digital solutions, energy management standards, as well as for workforce hiring and training.
“The program finances up to 80% of the total project value, while companies must provide 20% of their own funds. Eligible MSMEs are those operating in the manufacturing sector and meeting certain criteria, such as registered activity, private ownership, positive financial operations, and regular tax payments,” Marković said.
He highlighted that eligible activities include the purchase of equipment that contributes to energy efficiency, the implementation of digital solutions for optimizing energy consumption, and strengthening the capacity of experts in energy management, while ineligible activities include the purchase of used equipment, vehicles, material rentals, and more.
Marković pointed out that applications are submitted electronically. All information about the program and application process can be found on the Fund’s website, www.fondzainovacije.me, and decisions on project approval or rejection will be made after the evaluation process, which is conducted in two rounds.
“We invite all business entities from the manufacturing sector to take advantage of this financial support model to improve their operations through investments in modernization, innovation, and energy efficiency of business processes,” he concluded.
