At today’s session, the Government of Montenegro adopted the Program for Encouraging Innovations in the Function of Energy Efficiency in Industry for 2024.
The Program represents a highly important support instrument for the implementation of activities under the new Industrial Policy 2024-2028 and the accompanying Action Plan for 2024 and it is one of the mechanisms to support the industrial sector in line with the concept and priorities of the Smart Specialization Strategy and the Energy Development Strategy. The Program is the result of inter-ministerial cooperation and continuous coordination of sectoral policies between the Ministry of Economic Development, the Ministry of Education, Science, and Innovation, and the Ministry of Energy. As with the pilot Program initiated in 2023, the implementation of the Program will be carried out by the Innovation Fund of Montenegro in collaboration with the relevant ministries, in accordance with the Agreement on Inter-Ministerial Cooperation for Program Implementation.
The Program continues and builds upon the activities implemented under the 2023 Program, which supported seven projects from companies in the manufacturing sector with a total of 1.28 million€. These projects introduced new technologies, digital devices, and smart software solutions, as well as energy consumption monitoring systems, and facilitated new employment opportunities.
The financial framework for implementing the Program for Encouraging Innovations in the Function of Energy Efficiency in Industry for 2024 amounts to 2.3 million €.
Through a model of non-refundable financial support, ranging from 50.000€ to 200.000€ for the purchase of production equipment, the introduction of smart/digital solutions, energy management standards, and employment, eligible activities and costs will be funded up to 80% of the total project value.
With a significant amount of grants, up to 200.000€, micro, small, and medium-sized enterprises in the manufacturing sector will have the opportunity to achieve positive business impacts with a minimal additional investment of 20% of their own contribution.
“We are pleased to continue the implementation of this important Program, which has already shown significant results in its first year. We expect that this year’s Public Call will attract an even larger number of applications, aware of how crucial innovation and energy efficiency are for enhancing the competitiveness of Montenegro’s manufacturing industry. Through this Program, manufacturing companies could modernize their production processes, introduce advanced technologies and digital solutions, reduce operational costs, and at the same time contribute to environmental protection. Additionally, there is potential for support in new employment and further training of existing staff, which will strengthen the companies’ capacities for further development and innovation,” stated Bojana Femić-Radosavović, Executive Director of the Innovation Fund of Montenegro.
Following today’s adoption by the Government of Montenegro, further operational steps will proceed according to the established timeline, including the announcement of the Public Call for Program implementation by the Innovation Fund.
All information related to the application process and participation in the Program will be promptly communicated to the interested public through various information channels in the coming days.
Additionally, during the Info Days that will be organized in Montenegrin municipalities, all interested business entities will have the opportunity to learn more about the Program.
It is expected that this support model will generate adequate interest from the business community, enabling all interested entities from the manufacturing sector to successfully carry out the necessary investments in modernization, innovation, and energy efficiency of business processes, thereby contributing to the diversification of production activities and increasing the competitiveness of our industry.
