Five years ago, the Innovation Fund of Montenegro began its operations with the aim of paving the way for development through innovative ideas. Today, the Fund’s achievements include hundreds of supported projects, companies developing new solutions, researchers connecting knowledge and the market, numerous national and international partnerships, and a growing number of people who see innovation as an opportunity for development.
Over five years of operation, the Fund has supported more than 300 projects through 11 programmes and 29 public calls, with more than €13.7 million approved to date. A total of 325 international experts have participated in the evaluation of projects, while the support programmes have evolved over the years to address different stages of development – from the initial idea and validation of an innovative concept, through startup development and business innovation, to connecting science and industry, improving energy efficiency, and supporting innovative solutions for the public sector.
However, behind these figures are people and teams who decided to develop and test their ideas and turn them into something tangible. Someone created their first prototype, someone developed a new product or service, while others brought their research closer to the market.
“The Fund’s support means more than financing a single project. It is a recognition that a team, company or researcher has been identified as having potential for further development. Through our programmes and support, beneficiaries gain experience, results and a reference that gives them additional credibility when talking to partners, investors, customers and other sources of financing. Today, saying that someone is a beneficiary of the Fund’s support programmes carries a certain weight outside Montenegro as well. This is one of the values that the Fund’s support brings to our beneficiaries and a result of the system that the Fund has built,” said Katarina Lalović, Executive Director of the Innovation Fund of Montenegro.
The Fund’s five-year development has been marked by the establishment of a system that now responds to different stages of development and the needs of its beneficiaries, says Saša Ivanović, Head of the Strategic Planning and International Cooperation Sector:
“When we started, we were doing many things for the first time. There was no ready-made model that we could simply apply. We were building programmes, processes and ways of working, but also trust in a new institution. Today, we have a developed support system that responds to different stages of development and the needs of our beneficiaries. We are no longer talking only about how to provide initial support to a good idea, but about how to help companies and researchers take the next step, grow, enter new markets and become ready for larger sources of financing and international programmes.”
Interest in the Fund’s programmes has increased significantly in recent years. The number of applications rose from 58 in 2022 to 594 in 2026 – an increase of more than ten times – while the amount of funding requested increased from €3.19 million to €35.23 million, or more than eleven times.
Interest continued to grow throughout 2026, with three more public calls scheduled by the end of the year: the Proof of Concept Programme, the Innovation Support Programme for Energy Efficiency in Industry, and the GovTech Programme for Financing Innovative Solutions in the Public Sector – First Phase.
During September, the Fund will also launch its redesigned website, developed to provide users with easier and clearer access to information about support programmes, public calls and the opportunities offered by the Fund. The redesign brings improved content organisation, a new visual identity and a user experience approach based on research into users’ needs.
The Fund is marking its fifth anniversary by also looking towards the future. During the first half of September, at the Science and Technology Park of Montenegro, citizens, companies, researchers, representatives of institutions and other members of the innovation ecosystem were invited to imagine Montenegro in 2031 and leave a message about what they would like to see become reality by then.
“We wanted to pause and think about what kind of Montenegro we want to see in five years, and what may seem impossible today but could be completely normal by then. Those ideas and wishes have now been preserved. When we open the capsule in 2031, it will be interesting to see how close we have come to what we imagine today,” said the Innovation Fund of Montenegro.
Behind every project is someone who had an idea and decided to give it a chance. The first five years have shown how far an idea can grow. The next five will show how far it can go.
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