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Incentives for innovative activities

Incentives for innovative activities

Minister of Science Sanja Damjanović presented today the new stimulating legislative framework for innovation and technological development.

With these laws, Montenegro opens new opportunities – a wide range of benefits and incentives for the development of innovative economy and startup companies, offers the same conditions for domestic and foreign companies and thus becomes an attractive destination for technological entrepreneurship and testing of new technologies.

Damjanović pointed that the measures of the third economic package related to strengthening the IT economy will include a financial package of EUR 30 million for the period 2020-2024 in direct partnership between the Government of Montenegro.

The following measures:

1. Establishment of the Montenegrin Strategic IT cluster – EUR 300,000
2. Establishment of the Centre for eCommerce support – EUR 150,000
3. Introduction of global online payment systems in Montenegro
4. Establishment of an Innovation Centre with virtual and augmented reality technologies – EUR 25.5 million
5. Innovations in the public sector – EUR 339,000
6. Continuous support to innovative startups – EUR 500,000

The measures aim to make the IT sector a new strong industry, with high export potential; that IT economy and digitisation become catalysts for the development of an innovative economy that will strengthen our traditionally strong industries (energy, tourism and agriculture) and which will support digital transformation of Montenegro.



Source: Government of Montenegro, Cafe del Montenegro


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