Montenegro creates new opportunities – new support for faster development

Montenegro is constantly improving and developing all its capacities with a view to create the best possible conditions for development of fast-growing companies and further expansion of the digital industry. In this regard, modern infrastructural support and new legislative frameworks are a big step forward. By creating favourable conditions through support for faster development, Montenegro indeed creates new opportunities – this is a joint conclusion of those present at the event organised by the Ministry of Science of Montenegro and the Innovation and Entrepreneurship Centre “Tehnopolis”.

The event was organised with the aim of presenting new support forms defined by the new regulatory framework, as well as with a view to development of infrastructure segments of the Science and Technology Park of Montenegro and IEC Tehnopolis. In addition, two reform laws in the field of innovation and technological development passed within the third set of socio-economic measures were presented during the event: Law on Innovation Activities and Law on Incentives for Research and Innovation Development. With these two laws, the Government of Montenegro has established a foundation for strengthening the IT economy and functioning of the national innovation ecosystem, providing for a wide range of benefits and incentives that apply equally to domestic and international companies. Finally, the Smart Specialisation Strategy was also presented, as a national and regional innovation strategy that sets development priorities and aims to build a competitive advantage by connecting its own strengths in research and innovation with the needs of the economy, responding in a coherent way to growing opportunities and market development.

Montenegro creates new opportunities

At the very beginning, those present were addressed by the Minister of Science of Montenegro, Dr. Sanja Damjanović, who talked about the opportunities provided by Montenegro to development teams, companies and start-ups, whose creation has opened up new opportunities.

“The Government of Montenegro strongly supports the development of innovative economy, and its key principles for such development are: modern infrastructure, contemporary legislative framework with incentives for technological development and our human capacities”, Damjanović said, commending in particular the work of IEC Tehnopolis, explaining that its path was not an easy one as Montenegro did not have a functional innovation ecosystem.

“An encouraging legislative framework is exactly what Montenegro lacked in the period behind us. Together with the innovative community, the government managed to pass two great laws that will bring a revolution in the domestic market. One of the great measures introduced by the above laws is the exemption of start-ups from taxes in the first five years of existence, as well as a unique measure of exemption from profit tax in case of reinvestment or investment in innovations and start-ups”, the minister explained.

Minister Damjanović also pointed out that Montenegro was aware of the dynamic development resulting from the application of technologies, industrial and digital revolution, as well as of the needs of young people, and that it could not afford to be left out, which is why it built a strong innovation ecosystem in the previous period.

“With great laws, with our human capacity, we are transforming Montenegro into a country of new opportunities, an attractive destination for technological entrepreneurship and development of new technologies. Montenegro can do what Estonia did. What I see in front of me is a new Montenegro, which will, with its additional potentials, really become a country of new opportunities”, she concluded.

Development of Montenegrin innovation ecosystem

Mr. Velibor Bošković, Executive Director of the Science and Technology Park of Montenegro, reflected on the development of the innovation system in Montenegro and the importance of the Science and Technology Park of Montenegro in that process.

"In the previous period, IEC Tehnopolis paved the way for the Science and Technology Park of Montenegro, whose central unit in Podgorica is located within the campus of the University of Montenegro. We can proudly say that the Science and Technology Park will be officially opened by the end of next year, becoming home to 30 to 50 innovative, fast-growing, technology-oriented companies with a capacity to host up to 500 employees in this important development facility”, Bošković said.

He explained that the Science and Technology Park has a very important role to play in the development of the Montenegrin national innovation ecosystem as its central unit that should, through joint work and coordination of all activities and in cooperation with Tehnopolis, represent a strong foundation for start-ups, innovative companies and export-oriented companies.

“Our people are our greatest potential and by constantly investing in them we can achieve important results that can present Montenegro as an attractive destination for investment not only in tourism, construction and energy, but also in the IT sector and the development of new technologies”, Bošković stated.

Development of entrepreneurship in the municipality of Nikšić

As an active partner in the development of an entrepreneurial environment, the municipality of Nikšić has given and will continue to give its contribution to the implementation of all future planned activities, the Vice President of the Municipality of Nikšić, Sonja Nikčević, explained.

“Today, we can proudly say that thanks to Tehnopolis, a number of regional development initiatives have been implemented, creating the foundations for more dynamic future development and investment, both in our city and in Montenegro”, Nikčević said.

Finally, she added that the municipality of Nikšić was grateful for everything that IEC Tehnopolis had achieved in its work, and that for that reason, in support of new creative ideas, it had allowed Tehnopolis to use the premises in Dom revolucije, at a very attractive location.

New support for faster development of innovative economy

At the very end, those present were addressed by Ratko Bataković, the Executive Director of IEC Tehnopolis, who expressed great satisfaction with the organisation of the event, where a whole set of opportunities for young creative individuals and teams ready to develop their businesses was presented in one place.

“All of the activities and events that we organise in Tehnopolis and elsewhere are primarily aimed at supporting business development and competitiveness of our economy through the promotion of new technologies and the application of innovations in all segments of the economy. This year, we are witnessing major and rapid changes in the economic environment, and are therefore additionally obliged to provide better, more meaningful and timely support within the set of support measures we provide to business idea holders”, Bataković said.

“In this moment, Tehnopolis is preparing for commissioning and equipping of three laboratories: Biotechnology Laboratory – Biolab Tehnopolis, Industrial Design Laboratory – TECH LAB Tehnopolis and DATA Centre, which will significantly accelerate the development of many segments of the local and national economy, including agriculture, tourism, metal and wood processing industry, he added.

“Anyone can come to Tehnopolis now and test his/her idea and receive support measures through pre-incubation, incubation or virtual incubation, as well as all consulting services in terms of production technology and technical or financial support measures that can be obtained at different levels, from local to national and European. Furthermore, one can receive information on available funds and models for lending and financing, support for creating business plans or filling out application forms, support for market analysis and trainings needed to acquire knowledge and skills to be equal and successful in the market, as well as the opportunity to find place in the market through our networks of partners, associates and platforms and business forums”, Bataković said, adding that all segments and services will be available primarily to tenants of the business incubator at IEC Tehnopolis, but also to representatives of the business community in Montenegro and the region, teams with innovative ideas, students, business support organisations, academic and scientific sector, as well as other interested parties.

After the introductory addresses, those present had the opportunity to watch a video showing the future infrastructure capacities of IEC Tehnopolis, which will be the focus of efforts in the coming period, and which will be located within the reconstructed part of Dom revolucije.

At the very end, the event attendees visited IEC Tehnopolis and its infrastructure segments, which will become an environment for young people to boost their digital skills and for further development of the innovation ecosystem. These infrastructure segments will constitute an innovative platform created by IEC Tehnopolis based on a hybrid model that uses advanced technologies to support the development of ideas and innovations with potential for commercialisation, development of promising start-ups and spin-off companies with a focus on technology-oriented companies, development of new innovative services for small and medium-sized enterprises for innovative products, services and processes.