The Innovation Fund of Montenegro has so far financed 278 projects through 10 programmes and 23 public calls, including 109 projects supported in 2025, with over EUR 4.1 million in funds awarded.
Over the past four years, the Innovation Fund of Montenegro has grown together with the community it supports. From the very first programmes to today’s more complex initiatives, the Fund’s development has been shaped by trust, dedicated work, and a growing number of people and organisations who believe that innovation can help build a better and more competitive Montenegro. During this period, the Fund has evolved into an institution that connects entrepreneurs, the research community, academia and the business sector with top experts, opens doors to international investors, and creates conditions for local ideas to reach global markets.
Through ten support programmes and 23 public calls, a total of 278 projects have been financed, with a total value exceeding EUR 12.2 million. In 2025 109 projects were supported, with more than EUR 4.1 million awarded. Behind each project are people, teams and ideas that together form a mosaic of Montenegro’s modern, creative and resilient innovation ecosystem. This growth is not merely a set of numbers, but a clear sign that a culture of innovation is maturing in Montenegro, and that an increasing number of teams have both the capacity and the courage to turn their ideas into tangible solutions.
Since its establishment, the Fund has been committed to building high standards in project assessment. The evaluation system is clearly defined, transparent and fully aligned with European practices, and each application undergoes international and independent evaluation. To date, more than 250 international experts have taken part in this process, while in 2025 alone 119 evaluators from over 30 countries were engaged in the peer-review phase. In the second evaluation phase (Pitch), projects were assessed by expert committee members from Serbia, Portugal, Germany, Switzerland, Ireland and Colombia. For certain programmes, up to five independent evaluators per project were involved to ensure the highest level of objectivity and quality.
The year 2025 demonstrated how important such a support system is. A record level of interest from the innovation community was recorded, with 470 applications submitted and more than EUR 18 million in requested funding. During the year, public calls were launched for six support programmes and two strategic initiatives, while the total contracted amount of financing exceeded the planned budget by more than 40%.
“Results achieved in 2025 confirm that systematic and long-term support for innovation delivers concrete and measurable effects. The Fund’s goal is not only to finance projects, but to create a stable framework in which ideas can grow—from the earliest stage to commercialisation and entry into international markets,” said Katarina Lalović, Acting Executive Director of the Innovation Fund.
Additional momentum for the development of the innovation ecosystem has been secured through the Draft Plan for Supporting the Development of Innovation Activity, under which the Government of Montenegro allocated an additional EUR 6 million to the Innovation Fund. These funds are intended to strengthen existing support programmes and introduce new ones, enhance the capacity of innovative companies to participate in future structural and cohesion funds, and improve the Fund’s own capacity to manage complex support programmes, including IPA III and future European Union funds.
At the same time, international cooperation remained one of the Fund’s strategic priorities. Participation in projects under Interreg, Erasmus+ and European Commission initiatives, as well as cooperation with the European Union, UNDP, UNECE, the World Bank and numerous partners, further strengthened the Fund’s capacities and increased the visibility of Montenegro’s innovation ecosystem.
“International cooperation enables us to provide Montenegrin innovators with access to knowledge, partnerships and financial instruments that go beyond national frameworks. Through joint projects and connections with European and regional partners, we strengthen Montenegro’s position within the European innovation landscape,” said Saša Ivanović, Head of the Strategic Planning and International Cooperation Unit at the Innovation Fund.
In parallel with strengthening domestic programmes, the Fund launched two new strategic initiatives in 2025. The first concerns the establishment of a Regional Accelerator for Sustainability and Artificial Intelligence, aimed at supporting startups from Montenegro and the region. The second relates to the GovTech Programme, designed to develop innovative solutions for the public sector. In 2025, the first phase of the GovTech Programme was successfully implemented: 91 challenges were submitted by public institutions, of which 76 were selected for further development in Phase II. A public call for financing innovative solutions is planned for early 2026. Approval of challenges in Phase I does not imply automatic financing; projects in the next phase will be subject to international evaluation.
“We are particularly pleased to enter the implementation of Phase II of the GovTech Programme, as it creates space for innovative solutions to improve specific public services and strengthen cooperation between institutions and the innovation community,” Lalović emphasised.
In 2025, special attention was also devoted to sustainability and the responsible development of innovation through the establishment of the Environmental and Social Management Framework (ESMF), ensuring that projects are implemented in line with national legislation and best international practices.
In the period ahead, the Innovation Fund will continue to carefully listen to the needs of innovators, academia and the business sector, with a clear focus on developing high-quality, sustainable and internationally competitive projects. The results achieved confirm that Montenegro has the potential, knowledge and people needed to build a strong innovation ecosystem—supported by an institutional framework that ensures stability and long-term perspective.
ADDENDUM – OVERVIEW OF PROJECTS FINANCED IN 2025
During 2025, thanks to additional funding and increased interest from the innovation community, the Fund supported a significantly higher number of projects. A total of 109 projects were financed, with awarded funding amounting to EUR 4,137,429.35. At the same time, a record level of interest was recorded, with 470 submitted applications and more than EUR 18 million in requested support, clearly confirming the need for continuous and systemic support for the development of innovation.
Below is an overview of all projects financed in 2025, grouped by support programmes.
I – Programme for Strengthening the Innovativeness of Micro, Small and Medium-Sized Enterprises
This programme line encourages cooperation between micro, small and medium-sized enterprises and research and development organisations. The focus is on projects that contribute to the development of new products, services, technologies or processes. The possible grant amount ranges from EUR 50,000 to EUR 200,000 per project.
In 2025, 14 projects were supported, with a total value of EUR 2,435,454.15.
Table 1: Programme for Strengthening the Innovativeness of Micro, Small and Medium-Sized Enterprises – Supported Projects in 2025
| No. | Project Holder | Project Title | Grant Amount (EUR) |
|---|---|---|---|
| 1 | BOBOT 3.14 DOO, Podgorica | Vatrogon – Development of an advanced, autonomous drone-based software system focused on early fire detection and prevention, using artificial intelligence and real-time environmental data analysis | 199,276.80 |
| 2 | DEEPMARK DOO, Kolašin | PatchMark: A patchable audio watermark resistant to cloning | 200,000.00 |
| 3 | INOVUL DOO, Tuzi | Innovative smart system for boat mooring | 200,000.00 |
| 4 | FMS DOO, Bijelo Polje | BOOST Project | 198,420.80 |
| 5 | ZUNO GAMES DOO, Podgorica | AI agent for automated content modification and management in LMS systems | 102,950.63 |
| 6 | BUSINESS INTEGRATION AND BUSINESS INTELLIGENCE DOO, Podgorica | DK-DPI; Digital Kiosk – Digital Payment Institution – Digitalisation of financial services through the Digital Kiosk mobile application | 199,983.61 |
| 7 | FLEKA DOO, Cetinje | Presto application – Development of advanced functionalities | 199,586.85 |
| 8 | UHURA SOLUTIONS DOO, Podgorica | Agent-based AI for financial services | 120,545.40 |
| 9 | BILD STUDIO DOO, Podgorica | CRNOGOČI: AI-supported tool for accelerated software development | 199,513.59 |
| 10 | SENTIMENT SCOPE DOO, Podgorica | Sentiment Scope – AI software for comment moderation and sentiment analysis | 120,227.70 |
| 11 | PAIDT MNE DOO, Podgorica | Trading based on intelligent price-movement detection – PAIDT | 198,661.32 |
| 12 | CLICKER TEAM DOO, Podgorica | SolarCastAI – System for intraday forecasting of solar power plant production | 170,258.40 |
| 13 | WEB FALCON DOO, Podgorica | GoGrant.me – Innovative AI-supported software for online calls and grant management | 161,621.36 |
| 14 | ELKON DOO, Podgorica | Intelligent system for real-time optimisation of aluminium electrolytic cell management | 164,407.69 |
II – Proof of Concept (PoC) Programme
This programme recognises the need to support innovation at the earliest stages of research, with the aim of demonstrating the technical feasibility and market potential of new technologies, processes or solutions. The programme provides pre-commercial capital for technical and commercial validation of innovative concepts, as well as for strengthening the capacities of the private sector and research institutions for research and development.
The support amount per project ranges from EUR 20,000 to EUR 40,000.
In 2025, 19 projects were supported, with a total of EUR 691,103.79 in approved funding.
Table 2: Proof of Concept (PoC) Programme – Supported Projects in 2025
| No. | Project Holder | Project Title | Grant Amount (EUR) |
|---|---|---|---|
| 1 | Faculty of Management, Herceg Novi | SustainaBite: 3D Food Printing for Local Sustainability | 38,577.84 |
| 2 | University of Montenegro (Faculty of Electrical Engineering), Podgorica | Development of a predictive model for rapid assessment of wind potential in urban areas – towards broader use of small wind turbines | 39,906.85 |
| 3 | DIPUZZLE LLC, Podgorica | Narativ | 36,794.85 |
| 4 | FIN-ING Consulting, Marketing and Engineering LLC, Podgorica | ReHaFlex – Adaptive glove for rehabilitation and functional hand recovery | 26,180.60 |
| 5 | University of Montenegro (Faculty of Mechanical Engineering), Podgorica | Development of a prototype friction coupling for splicing ribbed reinforcement steel | 39,824.94 |
| 6 | GOLDBEAR TECHNOLOGIES LLC, Podgorica | TourBrain | 35,181.36 |
| 7 | University of Montenegro (Faculty of Electrical Engineering), Podgorica | AI4Q-MON – AI-based controller for smart reactive power management in the first voltage-balanced active distribution network in Montenegro | 34,862.52 |
| 8 | PAIDT MNE LLC, Podgorica | PAIDT PoC: AI-driven algorithmic model for commodity and index trading | 39,778.44 |
| 9 | J Consulting Group LLC, Nikšić | VRX Montenegro – Montenegrin virtual experience of history and culture | 27,561.70 |
| 10 | University of Montenegro (Faculty of Electrical Engineering), Podgorica | Application of drones and GIS in support of sustainable development and smart resource management (in the defined area of the village of Brezna, Municipality of Plužine) | 38,495.12 |
| 11 | DIGITALSMART LLC, Podgorica | HPC/AI-based system supporting assessment and examinations in higher education | 39,854.29 |
| 12 | University of Montenegro (Faculty of Medicine), Podgorica | Artificial intelligence in the prevention of malignant diseases | 39,221.32 |
| 13 | FLOURISH LLC, Podgorica | Flourish AI Coach: Conversational artificial intelligence for emotional intelligence and soft skills development | 40,000.00 |
| 14 | University of Montenegro (Faculty of Electrical Engineering), Podgorica | Energy-efficient offshore communication hub – gateway for acoustic and terrestrial communications | 39,999.12 |
| 15 | University of Montenegro (Faculty of Maritime Studies), Podgorica | SAM4MI: Smart acoustic monitoring of asynchronous motors using artificial intelligence | 34,088.48 |
| 16 | ABLEST LLC, Podgorica | Abook | 38,935.10 |
| 17 | INFOSTREAM LLC, Podgorica | VerDoc – Software for creating consolidated (clean) legal and administrative texts | 38,473.33 |
| 18 | University of Montenegro (Faculty of Natural Sciences and Mathematics), Podgorica | Application of AI technologies in analysing brain changes in neurodegenerative diseases and multiple sclerosis | 35,351.83 |
| 19 | Faculty of Information Systems and Technologies, Podgorica | LOGGUARD – Smart acoustic system for detection and localisation of illegal logging | 28,016.10 |
III – Programme Supporting Early-Stage Startup Development
This programme line is intended to strengthen the startup community in Montenegro by supporting the growth and development of existing and new startup ventures. Eligible applicants include teams or existing startup companies developing solutions with high market growth potential.
Grants of up to EUR 35,000 per project provide not only financial support but also mentoring, which is particularly important at this stage of development.
In 2025, 12 projects were supported, with a total of EUR 390,789.40 in approved funding.
Table 3: Programme Supporting Early-Stage Startup Development – Supported Projects in 2025
Table 3: Early-Stage Startup Support Programme – Supported Projects in 2025
| No. | Project Holder | Project Title | Grant Amount (EUR) |
|---|---|---|---|
| 1 | Elmaz Feratović | Smart bill management and AI assistant for households | 27,770.00 |
| 2 | Jefto Bojović | Modular aluminium pedestrian bridges | 34,700.00 |
| 3 | LORASI Innovative Technologies LLC, Podgorica | Smart monitoring and verification of the power transmission network | 32,000.00 |
| 4 | HIRIN HERO CO LLC, Podgorica | Worketty | 27,840.00 |
| 5 | B22 Solutions LLC, Nikšić | ZakaziTermin | 35,000.00 |
| 6 | Edukativni Centar Dvorište LLC, Podgorica | Smart adventure through cultural heritage | 31,730.00 |
| 7 | Filip Šuković | Sorriso | 32,000.00 |
| 8 | Zorana Mišović | PhysioAide: Remote recovery and rehabilitation management platform | 35,000.00 |
| 9 | Marko Bulajić | SeaOps | 31,357.40 |
| 10 | Zoran Mastilović | Finsight AI – AI business assistant | 34,592.00 |
| 11 | Chainsight | ChainSight | 33,800.00 |
| 12 | Tinker Technology LLC, Tivat | Tinker | 35,000.00 |
IV – Innovation Vouchers Programme
This programme is designed as a fast and efficient way to support micro, small and medium-sized enterprises seeking to improve their products, services or processes through cooperation with research institutions.
The voucher value ranges from EUR 2,000 to EUR 10,000.
In 2025, 14 innovation vouchers were awarded, with a total value of EUR 123,442.58.
Table 4: Innovation Vouchers Programme – Supported Projects in 2025
Table 4: Innovation Voucher Programme – Supported Projects in 2025
| No. | Project Holder | Project Title | Grant Amount (EUR) |
|---|---|---|---|
| 1 | Maljat Stone JSC, Danilovgrad | Feasibility study for introducing a smart system for monitoring technical construction stone consumption and improving resource efficiency | 8,250.00 |
| 2 | FIN-ING Consulting, Marketing and Engineering LLC, Podgorica | Surface quality testing and optimisation of the 3D printing process for parts made from recycled plastic | 9,999.44 |
| 3 | Mediamind LLC, Ulcinj | VR simulator for seafarer training | 9,978.30 |
| 4 | Proact LLC | LUMA – AI partner for development projects and strategies | 6,160.32 |
| 5 | Vakom LLC | Chemical analysis of olive oil quality parameters | 5,866.10 |
| 6 | Fain Tech LLC, Podgorica | Chemical analysis of olive oil quality parameters | 5,866.10 |
| 7 | Blueprint RTL, Podgorica | AI-based graph monitoring | 9,592.00 |
| 8 | IT Advanced Services LLC | Innovative AI assistant for students | 7,320.00 |
| 9 | Moj Lab | Development of a predictive tool for laboratory workflow optimisation – proof of concept | 8,096.50 |
| 10 | Evoltera LLC | Development of an innovative sensor for rapid detection of pesticides in food – proof of concept | 8,295.47 |
| 11 | Gama Auto LLC | Testing mechanical properties of materials for 3D printing of plastic automotive parts subjected to compression or bending | 9,994.60 |
| 12 | Montinspekt LLC | Development, manufacturing and testing of a telescopic/segment support for the Brüel & Kjær 2250-L sound analyser | 9,994.60 |
| 13 | Concord Nekretnine LLC | R&D PoC module for standardised mapping, analytics and documentation in the real estate sector – a replicable data management model | 9,895.25 |
| 14 | International Technical Corporate Consultancy LLC | Innovative inducto-radiant heating system combining electromagnetic induction, Joule heating and controlled radiation within a reflective and thermo-conservative structure | 10,000.00 |
V – Fostering an Innovation Culture Programme
This programme line provides up to EUR 8,000 per application for organising events, innovative idea competitions and other activities aimed at developing creativity and innovativeness, and actively promoting an innovation culture.
In 2025, 22 projects were supported, with a total value of EUR 165,523.41.
Table 5: Fostering an Innovation Culture Programme – Supported Projects in 2025
Table 5: Innovation Culture Support Programme – Supported Projects in 2025
| No. | Project Holder | Project Title | Grant Amount (EUR) |
|---|---|---|---|
| 1 | NGO “Montenegrin Science and Technology Hub Znanje–Episteme”, Cetinje | Innovation culture through probiotic science – Learn, explore, share | 8,000.00 |
| 2 | Public Primary School “Mirko Srzentić” with Branch School, Petrovac | Tech Land | 7,850.00 |
| 3 | NGO Foundation for the Promotion of Science “PRONA”, Podgorica | InnovaLab – Youth Innovation Incubator | 7,958.00 |
| 4 | Logate LLC for IT Engineering, Representation and Consulting, Podgorica | Organisation of the regional fintech conference INFINTECH 2025 | 8,000.00 |
| 5 | “Sveznalci” Education and Training LLC, Nikšić | STEAM for young researchers | 8,000.00 |
| 6 | BIP Tech LLC, Podgorica | InnoBit – Innovation through micro:bit | 8,000.00 |
| 7 | NGO “KORTEX – ICT Cluster for Information Technologies, Innovation, Education, Design and Technological Development of Montenegro” | IT Spot Innovation Summit 2025 | 8,000.00 |
| 8 | NGO “Montenegrin Association for New Technologies – MANT”, Podgorica | Innovation workshops for youth in Montenegro – INO4YOUTH | 7,857.00 |
| 9 | Montenegrin Scientific Association STEMATIKA, Podgorica | SMART CITY CHALLENGE – Innovations for sustainable urban development (SCC 2025/26) | 7,934.10 |
| 10 | University of Montenegro | 3D food printing inspired by art – 3DHranaUm | 8,000.00 |
| 11 | NGO “Association for Creative Transformation”, Podgorica | TEDxPodgorica | 7,145.53 |
| 12 | NGO Montenegrin Association for Technical Culture “Politehnika”, Podgorica | InnoLab: Technology workshops for future innovators | 7,992.00 |
| 13 | Fain Tech LLC, Podgorica | Vision Impossible – Computer Vision Hackathon | 8,000.00 |
| 14 | NGO “Montenegro Space Research – Montenegro Space Research”, Podgorica | Path to Orbit: The first Montenegrin satellite and development of space technologies in Montenegro | 8,000.00 |
| 15 | NGO “Energeko”, Podgorica | Energy of the future: Innovations for sustainable development | 6,953.00 |
| 16 | Public Primary School “Lovćenski Partizanski Odred”, Cetinje | Scientific expedition – Build your smart eco-city | 7,948.00 |
| 17 | NGO “Montenegrin Association for Medical Informatics – MAMI”, Podgorica | InnoHealthPreneur – Innovation, health and entrepreneurship combined | 7,998.45 |
| 18 | DAMAR Plus Institute LLC, Podgorica | A world without innovation: Life before the future (SBI) | 7,987.00 |
| 19 | FIN-ING Consulting, Marketing and Engineering LLC, Podgorica | 3D Vision for Sustainable Development: Innovation, Entrepreneurship and the Future through Additive Technology | 7,999.96 |
| 20 | Public Institution Centre for Culture and Sports “Mihailo Lalić”, Andrijevica | Digital steps of Andrijevica | 8,000.00 |
| 21 | NGO “Help Network”, Nikšić | FutureCraft – Innovations and skills for a smart future | 7,900.00 |
VI – Implementation of Educational Programmes in Smart Specialisation Areas
This programme line aims to continuously contribute to Montenegro’s competitiveness and to the development of an innovation- and knowledge-based economy by engaging distinguished professionals, scientists, innovators and/or entrepreneurs from Montenegro and abroad.
Through structured training programmes lasting up to six months, participants contribute to improving the knowledge and skills of young people (pupils, students, young researchers and professionals).
The maximum support amount is EUR 10,000 per project.
In 2025, 28 projects were supported, with a total of EUR 269,658.96 in approved funding.
Table 6: Implementation of Educational Programmes in Smart Specialisation Areas – Supported Projects
Table 6: Implementation of Educational Programmes in Smart Specialisation Areas – Supported Projects
| No. | Project Holder | Project Title | Grant Amount (EUR) |
|---|---|---|---|
| 1 | Protos Film LLC, Podgorica | MOCAP LAB | 9,550.00 |
| 2 | Institute for Innovative Informatics LLC, Podgorica | Eco Sparks – Children building a green Montenegro | 8,826.30 |
| 3 | AM+ Studio LLC for Production, Trade and Services, Export–Import, Podgorica | DIGIBIM – Digital transformation through BIM for a sustainable construction industry | 10,000.00 |
| 4 | NGO Montenegrin Science and Technology Hub Znanje–Episteme, Podgorica | Academy of smart systems for sustainable rural development | 10,000.00 |
| 5 | BIP Tech LLC, Podgorica | Smart3D: Creative education through smart printing | 10,000.00 |
| 6 | NGO Montenegro Robotika – Montenegrorobotics, Podgorica | Robo Vision: A smart future through education and innovation | 10,000.00 |
| 7 | NGO EDICON – Centre for Education Development, Podgorica | Professional training: “Digitalisation of mobility” | 10,000.00 |
| 8 | XL Laboratories Foundation, Podgorica | The future is now | 10,000.00 |
| 9 | NGO Montenegrin Association for Knowledge and Science MAKS, Podgorica | SkyLab Montenegro: From idea to orbit | 10,000.00 |
| 10 | DigitalBee LLC, Podgorica | SmartStart: Digital skills through robotics and IoT | 9,996.00 |
| 11 | Montenegro Makers Foundation, Podgorica | A step forward for a new generation | 7,696.25 |
| 12 | Inovativa LLC, Podgorica | klupa.me – A platform for education on generative artificial intelligence | 10,000.00 |
| 13 | University of Montenegro – Faculty of Mechanical Engineering, Podgorica | School of technical diagnostics | 10,000.00 |
| 14 | NGO “JEŽ” – Association of Young People and Those Who Feel Young, Podgorica | Direction S3 – Training for youth on smart specialisation and sustainable development | 9,991.24 |
| 15 | PRONA Foundation, Podgorica | IoTiseja: Montenegrin Internet of Things Odyssey | 9,823.40 |
| 16 | University of Montenegro, Podgorica | BIO4INNO – Innovations for a sustainable future | 9,627.00 |
| 17 | NGO KORTEX – ICT Cluster, Podgorica | A new generation of SMEs – empowerment through artificial intelligence | 9,985.00 |
| 18 | NGO Montenegrin Association for New Technologies – MANT, Podgorica | Training on the application of artificial intelligence in the Internet of Things (AIoT Edu) | 10,000.00 |
| 19 | Public Primary School “Mirko Srzentić”, Petrovac | Summer and winter school “Sea of Knowledge” | 10,000.00 |
| 20 | Maison de Creativite LLC, Cetinje | From glass to décor – Eco fusion | 6,224.72 |
| 21 | NGO Institute for Grapevine and Wine, Podgorica | Educational programme for the preservation and promotion of Montenegrin indigenous grape varieties | 9,976.50 |
| 22 | Coinis LLC, Podgorica | Advanced full-stack web application development training | 8,917.00 |
| 23 | University of Montenegro – Faculty of Electrical Engineering, Podgorica | A game for all: Smart, sustainable, inclusive | 10,000.00 |
| 24 | NGO Montenegrin Society for Artificial Intelligence, Podgorica | AIxCloud – from prototype to production | 9,962.65 |
| 25 | Public Primary School “Njegoš”, Spuž | Green footprint – Innovation for a sustainable future | 9,311.50 |
| 26 | DAMAR Plus Institute LLC, Podgorica | DAMAR Academy: Applied behavioural analytics | 9,780.00 |
| 27 | NGO Association of Students of the Faculty of Information Technologies, University of Mediterranean, Podgorica | Interactive career training | 9,991.40 |
| 28 | Čini Dobro Foundation, Podgorica | Be Internet Smart | 10,000.00 |
