Innovation Fund of Montenegro

Thematic domains:

• Research and Innovation

  The Innovation Fund of Montenegro is a specialized institution and we gather internal and external experts from the field research and development, technology transfer, EU funds, financial management and evaluation. The Innovation Fund is the umbrella state institution in the implementation of innovation measures and programmes policies aimed at micro, small and medium entrepreneurship, as well as the transfer of technologies from scientific research institutions.

• Digitalisation

  The primary goal of the Innovation Fund is to stimulate the economic growth and competitiveness of Montenegro by increasing the innovativeness of the Montenegrin economy. The operation of the Fund will encourage innovative micro, small and medium-sized entrepreneurs by financing industrial research and experimental development, improving cooperation between the economy and the scientific-research sector, as well as the development and transfer of technologies. The implementation of the mentioned measures will certainly lead to an increase in the number of new jobs, especially in the high-tech sectors, an increase in the protection and commercialization of intellectual property, a greater investment of the private sector in research and development, an increase in exports, as well as a greater return of funds to the state budget through various types of taxes. The main tasks of the Innovation Fund are: encouraging the establishment and development of innovative micro, small and medium enterprises; promotion and attraction of investments in innovative entrepreneurship; insisting on the concept of smart specialization; technology transfer from the scientific and research sector to the economy; development of human capital in research and development, education of students and adults in acquiring entrepreneurial skills; emphasis on the internationalization of the business of innovative entrepreneurs; participation in international and EU projects as well as associations dealing with various aspects of innovation policy with an emphasis on technology transfer and innovative entrepreneurship; encouraging the establishment of seed and risk capital funds for the purpose of developing innovative micro, small and medium enterprises; coordination and cooperation with different actors of the innovation system; promotion of the value of innovation culture.