Over the past four years, the Innovation Fund of Montenegro has grown together with the community it supports. From the first programs to today's complex initiatives, our path has been marked by trust, dedicated work, and a growing number of people and organizations who believe that a better Montenegro can be built through innovation.
In the period from 2021 to 2025, the Fund grew into a central state institution for implementing innovation support policies, connecting micro, small and medium-sized enterprises, the scientific and research community, the business sector and international experts. Through developed support mechanisms, the Fund created the conditions for domestic ideas to grow, develop and find their way to the global market.
During the aforementioned period, through ten program lines support and 23 public calls, a total of 278 projects, in a value greater than 12,2 million eurosOnly during 2025. year, through six program lines, is supported 109 projects, with total approved funds in the amount of 4,14 million euros.
Each of these projects carries its own story, its own team and its own ambition, and all of them together form a mosaic of a modern, creative and persistent innovation ecosystem. This growth is not just a number, but confirmation that more and more quality ideas are being created in Montenegro and that an increasing number of teams have the courage to develop and test them on the market.
A detailed overview of all funded projects is available on the official website. Fund.
High standards and international project evaluation
"The results achieved in 2025 confirm that systemic and long-term support for innovation provides concrete and measurable effects. The goal of the Fund is not only to finance projects, but to create a stable framework in which ideas can grow, from the initial phase to commercialization and entry into international markets," said Katarina Lalović, Acting Executive Director of the Innovation Fund.
We are proud that the Fund has been building high standards in project evaluation since its inception. Our evaluation system is clearly defined, transparent and fully aligned with European practices. Each application undergoes an international, independent evaluation conducted by experts from different countries. Behind each presented result are people, ideas, courage and great dedication.
So far, more than 100,000 people have participated in the evaluation process. 250 international experts, and in 2025 alone we hired 119 evaluator from over 30 states in the peer-review phase. Members of our expert committees who evaluated applicants in the second phase of evaluation (Pitch) come from Serbia, Portugal, Germany, Switzerland, Ireland and Colombia. For some programs we also include up to five independent evaluators per project, in order to ensure the highest level of objectivity and quality of the evaluation process.
Stable and long-term support for innovation development
In order for Montenegro to develop a knowledge-based economy, it is necessary to provide stable and long-term support for the development of innovative ideas, from their inception to commercialization. The Innovation Fund is continuously working on this, implementing support programs that monitor the development of innovations at every stage.
The year 2025 best demonstrated the importance of such a system, as it brought record community interest, with a total of 470 applications and over 18 million euros in requested support. During the year, public calls were published for six support programs and two strategic initiatives, and the total contracted amount of funding in 2025 amounted to over 4.1 million euros, which is more than 40% above the planned amount of 2,9 million euros.
Capacity building through additional state investments
An additional impetus for the development of the innovation ecosystem was provided through the Proposal for a Plan for Support for the Development of Innovation Activities, through which the Government of Montenegro allocated additional funds in the amount of six million euros to the Innovation Fund. These funds are aimed at strengthening existing support programs, the volume of which in 2025 increased by more than 40% compared to the planned budget, then at introducing new mechanisms and strategic initiatives, as well as at strengthening the capacities of Montenegrin innovative companies to participate in future structural and cohesion funds of the European Union. At the same time, the funds contribute to improving the capacities of the Fund itself to manage complex support programs, including instruments under IPA III and future European Union funds.
Thanks to additional funds, the Fund began implementing two strategic initiatives in 2025. The first relates to the establishment of Regional Accelerator for Sustainability and Artificial Intelligence, aimed at supporting startups from Montenegro and the region. The second initiative relates to GovTech program, intended for the development of innovative solutions in the public sector. Within the first phase of the GovTech program, 91 challenges from public institutions were submitted, of which 76 were selected for further development in the next phase, while a public call for funding for innovative solutions is planned for early 2026. Approval of challenges in the first phase does not imply automatic funding, but projects will be subject to international evaluation.
Environmental sustainability and social responsibility
The Fund recognizes that innovations must be environmentally and socially responsible, which is why an Environmental and Social Management Framework (ESMF) was established in 2025, which defines the environmental and social procedures that beneficiaries of the Fund's programs must follow in accordance with national legislation.
The EIA prescribes the method of assessing the potential impact of project activities, identifying risks and implementing measures to mitigate them, and is applied to support programs in which this aspect is particularly important, with the possibility of adapting to the specifics of each public call. In order to monitor and assess these aspects, the Fund also engages an external expert for environmental and social issues, in order to ensure the sustainability of all supported projects.
Robotics for the youngest
The "Robotics for the Young" program is an example of the successful integration of innovative teaching methods into the Montenegrin education system. It was launched in 2022 as a pilot initiative jointly developed by the Innovation Fund, the Ministry of Education, Science and Innovation and the Institute for Education, and although it initially included only four schools, it quickly showed how much knowledge, technology and creativity can inspire the youngest.
The following year, the program was expanded to an additional 16 schools, and thanks to with the support of the Central Bank Montenegro During 2024 and 2025, it grew into a national initiative that today includes all primary schools in the country, more than 160 institutions and thousands of studentsThe program uniquely connects STEM fields and financial literacy, enabling lower elementary school students to develop logical thinking, creativity, teamwork, as well as basic knowledge in the fields of programming and financial literacy through play, research, and practical work.
In order to ensure equal access to modern learning tools, every primary school received an educational robot, while special focus was placed on strengthening the capacities of teaching staff. The training of trainers program was successfully completed 12 certified trainers, while more than 200 teachers attended accredited training on the application of robotics and modern STEM methods in teaching.
The year 2025 was crowned with the organization of the national robotics competition for the youngest "RoboFin", which brought together 55 teams and over 215 uchenika from all over Montenegro. Through the task "The Saver's Adventure", students applied the acquired knowledge in the field of saving, planning and responsible money management, while simultaneously developing digital and cognitive skills. The "Robotics for the Youngest" program continues to grow together with the children and teachers who implement it and represents a long-term investment in generations that will contribute to the development of a more innovative, digitally literate and resilient society.
International cooperation and partnerships
The Fund's cooperation with European Union funds and international partners represents an important foundation for further development, strengthening of the innovation ecosystem and its integration into the European innovation space. The Innovation Fund of Montenegro is currently participating in several international projects within the framework of the Interreg, Erasmus+ programs and initiatives of the European Commission, which contribute to strengthening regional cooperation, knowledge exchange and development of joint innovation initiatives. The projects are aimed at strengthening innovation capacities, green and digital transformation, blue economy and development of eco-entrepreneurship in the region. Since its establishment, the Fund has been cooperating with numerous international institutions and donors, including the European Union, UNECE, UNDP, the World Bank, the Kingdom of Norway, Finland and other partner organizations.
"International cooperation enables the Montenegrin innovation ecosystem to connect with European and global flows of knowledge, capital and experience. Through projects, partnerships and European Union programmes, the Fund is actively working to open the doors to international markets for domestic innovators and make Montenegro a recognizable and reliable partner in the European innovation space," said Saša Ivanović, Head of the Strategic Planning and International Cooperation Sector at the Innovation Fund. Their support has contributed to building administrative capacities, developing human resources and improving the quality of services that the Fund provides to its users.
Cooperation with partner institutions from the region is particularly intensive and is based on sharing best practices and solving common challenges. Through joint initiatives, such as demo days, presentations and networking with international investors, the visibility and credibility of Montenegrin innovative companies on the international market is further increased.
Visit of the President of Estonia to the Innovation Fund
Montenegro and Estonia further strengthened their partnership in the field of digital transformation and innovation during the first official visit of the President of the Republic of Estonia to Montenegro. On that occasion, a joint lecture "Montenegro and Estonia - Partners in the Digital Future" was organized, which brought together numerous representatives of the innovation community, institutions, startups and the academic sector. The visit was an opportunity to exchange experiences on building a digital state, developing electronic services, open data and creating an environment that encourages the growth of technology companies.
The Estonian delegation presented its journey from the full digitalization of registers to establishing one of the most advanced e-governments in Europe, as well as new plans for the integration of artificial intelligence into the education system. The possibilities of deeper institutional cooperation, joint projects and strengthening the capacities of the Montenegrin innovation ecosystem were discussed.
Such meetings once again confirm how much international partnerships contribute to building a modern digital infrastructure and represent an important step towards strengthening Montenegro's role in Europe's digital future. For the Innovation Fund, this visit represents a strong confirmation of the importance of open dialogue and knowledge exchange with countries that are at the forefront of digital transformation, with a clear commitment to creating an environment that recognizes, supports and encourages innovation through support programs, international cooperation and strategic initiatives.
Neuromarketing research for the development of the Fund's new website: a combination of science, technology and user experience
Having learned that innovative methods that can improve the digital user experience exist in Montenegro, the Innovation Fund decided to take a step towards applying modern, scientifically based approaches in its own work. In cooperation with the Damar Institute, neuromarketing research was conducted in October and November, which represents the scientific basis for the development of the Fund's new website.
The aim of the research was to identify key weaknesses of the existing website, based on objective data on user behavior, and to precisely understand what attracts users' attention, where they stay the longest, and where they encounter obstacles. The sample included representatives of various target groups of the Fund, including applicants who had participated in support programs in previous years, which provided a realistic and credible insight into the actual user experience. During the research, advanced methods were applied, including measuring cognitive load and emotional reactions, which enabled clear identification of points of frustration, confusion, and overload. Based on these findings, in cooperation with the Bixbit company, UX recommendations and a new, optimized structure of the future website were defined.
With this approach, the Innovation Fund once again confirms its mission to connect science, technology and business and to apply innovations in its own work. The cooperation with the Damar Institute and the Bixbit company shows how the synergy of science, advanced technologies and modern design can lead to digital solutions based on data, user understanding and real community needs. We believe that the new website of the Innovation Fund of Montenegro will become an even more intuitive, accessible and inspiring platform for everyone who wants to innovate.
Looking to 2026: What's next?
The Innovation Fund will continue to be an important player in accelerating innovative development and technological transformation of Montenegro, with a focus on strengthening the number and quality of innovative projects, encouraging the growth of companies with potential for international markets and creating conditions for the development of new products, services and jobs. In the coming period, the Fund will continue to carefully listen to the needs of innovators, academia and the economy, so that support programs are directed towards real market challenges and development priorities. Special emphasis will be placed on the implementation of the GovTech program for financing innovative solutions in the public sector, with the aim of digitizing and automating administrative processes and improving the quality of public services for citizens and the economy.
"It is with particular pleasure that we enter the implementation of the II phase of the GovTech program, because it opens up space to improve specific public services through innovative solutions and strengthen cooperation between institutions and the innovation community," Lalović emphasized.
In parallel, the Fund will strengthen international and regional partnerships through active participation in European initiatives and projects. The Fund's vision remains clear: Montenegro as a country where innovations have a real and measurable impact on social and economic development. The results achieved in 2025 confirm that systemic support for innovation provides concrete and measurable effects, from an increase in the number of quality projects to strengthening the capacity and international recognition of the innovation ecosystem.
(Innovation Fund of Montenegro)
