Annual conference – results and programs
On Wednesday, December 27, the annual conference was held where we presented the results achieved during the year 2023. The event was attended by representatives of the most important state institutions, innovation and academic communities, partners, grant recipients, friends of the Fund, and other esteemed guests.
Grand Hall, CUE Hotel Podgorica
Since September 2021, the Innovation Fund has supported 85 projects, with the amount of funds allocated reaching 2.68 million euros. During this period, 288 applications were received and evaluated by 145 foreign evaluators with various expertise, reported the Executive Director, Bojana Femić-Radosavović.
The nine-member team of the Fund managed to create and implement 10 support programs intended for various actors in the innovation ecosystem: micro, small, and medium-sized enterprises, research institutions, startups, young teams developing ideas, public institutions, as well as individuals such as innovators and inventors.
All projects underwent expert, international, independent evaluation, which for most calls takes place in two phases. “We are confident that all projects we finance have exceptional chances of success, both in the domestic and international or global market,” said Femić-Radosavović, adding that it is a significant confirmation that the evaluation system established has been recognized by a relevant international body, as the European Innovation Council (EIC) accredited the Program for collaborative grants for innovation for the Plug-in scheme. This enables users of the Fund’s program to have easier access to financing from EU funds.
Programs and Innovations
During this year, the Fund successfully implemented eight different program lines supporting the development of innovative ideas from inception to commercialization.
Dr. Bojana Femić-Radosavović, Executive Director of the Montenegrin Innovation Fund
“One of the first programs in 2023 was the pre-acceleration program for startups, where we recognized a consortium led by Technopolis as a strategic partner, with members including the Science Technology Park, University of Montenegro, Montenegrin Telekom, and the Science Technology Park in Belgrade,” explained Femić-Radosavović.
The program with the highest number of applications this year was the Support for the early phase development of start-ups. The value of an individual grant in this line is 30 thousand euros for financial support and 5 thousand euros for work with a mentor. “Mentorship as an added value to the program is of crucial importance, as we believe that in the initial stage of idea development, both expert and non-financial support are equally important,” emphasized Bojana. Additionally, the Proof of Concept program was implemented, which finances the early stage of idea development and assists in assessing its commercial potential.
The call with the largest overall budget this year was the Program for strengthening the innovation of newly established or existing micro, small and medium-sized enterprises, aiming to increase the innovativeness of these enterprises. This year, the Fund also opened a call for the Implementation of educational programs in the areas of smart specialization, with the top 10 rated projects receiving financial support totaling 84 thousand and one hundred euros.
Twenty-four applications were submitted for the program for encouraging innovation culture, of which nine were selected for funding. The main purpose of the program is to support activities such as planning and conducting promotional campaigns, organizing events and competitions (hackathons), with the aim of promoting and popularizing innovation and innovative entrepreneurship at the national and local levels.
From the very beginning of its operation, the Fund has paid a lot of attention to the topic of intellectual property protection by organizing workshops on this topic. A special line of support program has been developed through Vouchers for the protection of invention. Through this support line, support is provided for patent protection and invention development both domestically and internationally. The highest number of applications related to the reimbursement of fees for filing a patent application with the World Intellectual Property Organization (WIPO), but there was also a significant number of applications for patent development.
In addition to the seven program lines funded directly from the Fund’s budget, a program for encouraging innovations in the function of energy efficiency in industry has been launched. This program was initiated within the interdepartmental cooperation of three ministries: the Ministry of Science and Technological Development, the Ministry of Economic Development and Tourism, and the Ministry of Capital Investments, with the aim of ensuring necessary synergy of innovation, industrial policy, and energy policy with the priorities of the Smart Specialization Strategy (S3).
The “EduRobotić” project aimed at promoting the development of logical thinking, creative problem-solving, and acquiring specific knowledge among primary school students has been continued. Sixteen robots have been provided for use in 16 Montenegrin primary schools throughout the country in this school year, with the support of the Ministry of Education, Science and Innovation.
International Initiatives and Plans for the Next Period
Program for collaborative grants for innovation has been accredited by the European Innovation Council (EIC) for the Plug-in scheme, allowing grant recipients easier access to the second phase evaluation for the EIC Accelerator program. Femić Radosavović was elected as Vice President of the Committee on Innovation, Competitiveness and Public-Private Partnerships (CICPPP) of the United Nations Economic Commission for Europe (UNECE) in May in Geneva, while project manager Saša Ivanović will represent the country in the Startup Alliance Committee of the Western Balkans.
For the year 2024, seven program lines are planned, namely:
Program line for collaborative grants for innovation
Program line for support for the early phase development of start-ups
Program line for proof of innovative concept
Program line for the implementation of educational programs in the areas of smart specialization
Program line for encouraging innovation culture
Vouchers for the protection of invention
Program line to stimulate research, development, and adoption of technology to improve health tourism
High-Level Standards of the Innovation Fund
At the annual ceremony, special honor was bestowed upon us by the Minister of Education, Science, and Innovation, Prof. Dr. Anđela Jakšić Stojanović, who addressed the attendees and emphasized:
“Innovations are at the heart of the political agenda, not only of the Montenegrin Government but of the whole of Europe, especially in recent years as the world faces various crises. Montenegro is experiencing a constant growth trend in this area, and the assessment of good progress in Chapter 25 – Science and Research by the European Commission and the concept of smart specialization have ensured our excellent positioning. The Innovation Fund, as she specified, is the most significant part of that framework.”
Prof. Dr. Anđela Jakšić-Stojanović, Minister of Education, Science, and Innovation
“The Fund has taken over the implementation of one of the key S3 initiatives, the innovation program in support of energy efficiency in industry, initiated in cooperation between the relevant ministries for science, economic development, and capital investments, and another initiative with the Ministry of Health in the field of health tourism is being prepared,” Jakšić Stojanović stated.
She assessed that without support for innovations, there is no prosperity, neither economic nor broader social, and added that from the position of minister, she will work on promoting the importance of innovations at the national and international levels.
We learned more about the fusion of innovation, the IT sector, and architecture from the creators of the game “Bleak Faith: Forsaken,” Rade and Mišo Vukčević. They are the recipients of the largest grant in 2023 and had the honor of addressing the audience on behalf of all grant recipients and presented their supported project.
Rade and Mišo Vukčević, grant recipients from the support program
Rade Vukčević emphasized that, with the help of the Innovation Fund, their project has evolved from just an idea in their living room into something that is a trend, which can positively impact their generation, boost morale, and serve as evidence that when you give your all, dreams become reality.
“It is very important to have this kind of support in the country because without some anchoring and reliance on a properly articulated organization, there are still limits,” believes Rade Vukčević.
He noted that video games are not just a combination of different technologies or merely three-dimensional design but much more, such as the union of all arts, and highlighted that with the support of the Fund, they have succeeded in proudly stating that their game is a unique national product.
