Minister Damjanović on the third set of economic measures: incentives for innovative activities

Minister of Science Dr. Sanja Damjanović presented a new legislative framework with incentives for innovation and technological development, the proposal for which was adopted by the Government of Montenegro.

Through these laws, Montenegro is creating new possibilities – a broad spectrum of incentives and support measures for development of innovative economy and start-up companies, while offering the same conditions to domestic and foreign companies – thus becoming an attractive destination for technological entrepreneurship and new technology testing.

During the conference, minister Damjanović particularly focused on those measures within the third set of measures that are related to strengthening IT economy, which imply a financial package of EUR 30 million in the period of 2020-2024, implemented in direct partnership of the Government of Montenegro and the national economic sector, with participation of foreign direct investments.

The following measures are included:

1. Establishment of Montenegrin strategic IT cluster – EUR 300,000

2. Establishment of eCommerce Support Centre – EUR 150,000

3. Introduction of global online payment system in Montenegro

4. Establishment of Innovation Centre with virtual and augmented reality technology – EUR 25.5 million

5. Innovations in the public sector – EUR 339,000

6. Continuous support to innovative start-ups – EUR 500,000  

The measures are intended to help the IT sector to become a new strong economic sector, with high export potential, while the IT economy and digitalisation should become the catalysts of innovative economy that will boost our traditionally strong economic sectors (energy, tourism and agriculture) and serve the function of digital transformation of Montenegro.

MINISTRY OF SCIENCE

Dr. Sanja Damjanović – the third set of the economic measures – presentation

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