The Innovation Fund of Montenegro has announced a Public Call for participation in the Program for Encouraging Innovations in the Function of Energy Efficiency in Industry for 2024.
The aim of this program is to encourage the improvement of energy efficiency through innovations in the manufacturing industry, with a total budget for 2024 of €2,300,000. The program is the result of inter-ministerial cooperation between the Ministry of Economic Development, the Ministry of Education, Science, and Innovation, and the Ministry of Energy, continuing the coordination of sectoral policies initiated in 2023. The Innovation Fund of Montenegro will, as before, implement the Program in cooperation with the relevant ministries based on the Inter-Ministerial Cooperation Agreement.
The Public Call is open until November 11 at 3 p.m., and the required documentation is available on the website. Detailed information and application guidelines can be found at the following link: LINK.
The application process is simple and takes place exclusively online.
Micro, small, and medium-sized enterprises from the manufacturing sector can apply for non-repayable 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 hiring and training the workforce.
The program finances up to 80% of the total project value, while companies must secure 20% from their own funds.
An Info day will be held in Podgorica at the Chamber of Commerce on October 10 at 11 a.m., with the option to participate via the Zoom platform.
Zoom link: Join Zoom Meeting
Meeting ID: 864 8242 2936
Passcode: 090515
In addition to the Info Day, the Innovation Fund will organize online “Open Door” sessions every Wednesday starting October 16, from 9 a.m. to 10 a.m. During these sessions, interested parties can obtain all the necessary information about the program and the application process. You can follow the Open Door sessions at the following [LINK]..
It is expected that this support model will attract significant interest from the business sector. The goal of the program is to enable entities in the manufacturing industry to successfully carry out the necessary investments in modernization, innovation, and energy efficiency of business processes. This aims to diversify production activities and increase the competitiveness of Montenegrin industry in both domestic and international markets.
The results of the 2023 program can be viewed at this LINK.
