Open Call for Proof of Innovative concept

Podgorica, July 25, 2024 – The Innovation Fund of Montenegro has announced an Open Call for the Proof of Innovative Concept program. This program is designed to support innovations in the early stages of research, providing pre-commercial capital for the technical and commercial validation of innovative concepts. It aims to strengthen the capacities and capabilities of the private sector and research institutions in research, development, and innovation.

The total value of the announced call is 350,000 EUR, with individual grants ranging from 20,000 EUR to 40,000 EUR. The public call and necessary application documentation are available on the Fund’s website (www.fondzainovacije.me).

Eligible applicants for this program include:

– Business entities categorized as micro, small, and medium-sized enterprises.

– Scientific research organizations.

The program will support projects in the early stages of technological readiness, from TRL3 to TRL4, focusing on projects with clearly defined expected outcomes.

Bojana Femić Radosavović, the Director of the Innovation Fund, emphasized the importance of this program: “Innovation is key to economic development and competitiveness. This program funds the early stages of idea development, aiming to demonstrate whether further investment is viable and if the idea has commercial potential. Therefore, the call provides funding for high-tech risk projects. Successful projects give investors’ confidence that the process is technically feasible and that the prototype is functional.”

Applications are open until September 30, 2024, at 3:00 PM, and can be submitted via the Fund’s portal at www.programifonda.me.

The Fund is organizing an Info Day on this call, which will be held online via Zoom on Thursday, August 1, starting at 10:00 AM. During the online Info day, program details and application guidance will be presented. The link to participate will be posted on the Fund’s website and social media channels. In addition, all interested parties are invited to join the online Otvorena vrata sessions, held every Wednesday from 9:00 to 10:00 AM, also via Zoom.

For further information, interested parties can contact the Fund via email at poc@fondzainovacije.me or by phone at 020 653 891.

At the Innovation Fund of Montenegro, we believe that every innovation brings us one step closer to prosperity and the development of our community. We warmly invite you to join us in building an innovative future.

IDEAS PAY OFF!