An additional six million euros will be allocated for innovation in Montenegro this year, the Ministry of Education, Science and Innovation (MESI) announced.
The ministry said that the Government adopted the Information on the Use of Funds from the Investment Program of Special Importance for the Economic Interest of Montenegro, with the Proposal for a Plan to Support the Development of Innovation Activities of the Innovation Fund for this year.
"The adopted Innovation Development Support Plan for this year defines the implementation of three initiatives: strengthening the existing Innovation Fund support programs due to high market interest and needs, establishing a Regional Accelerator for Sustainability and Artificial Intelligence, and developing GovTech solutions, with a total value of six million euros," the statement said.
It is stated that the adoption of this plan creates conditions for the first time for the establishment of a "pre-seed" and "seed" accelerator, designed to provide support to technology companies in the early stages of development with high growth potential.
"During the duration of the Program, 432 escrow contracts were signed and at this moment a total of 31 million euros is available to support the development of innovation activities in Montenegro," said the Ministry of Innovation and Technology.
As they stated, the Plan for Support for the Development of Innovation Activities for this year represents an expansion of the portfolio of good initiatives implemented by the Innovation Fund and which will already provide concrete results this year, creating a synergistic effect with the current programs being implemented.
"This year is of particular importance for advancing the development of innovation activities, in the context of the fact that this is the first time that such significant funds have been opened for the implementation of specific programs and activities in the field of innovation," the statement said.
Therefore, the Ministry of Innovation and Technology believes that now is the ideal time for other innovation infrastructure entities to expand their activities in accordance with market needs.
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