At yesterday’s session, the Government of Montenegro adopted the Program for Incentivizing Innovation for the purpose of Energy Efficiency in Industry for 2024.
The program is a very important instrument of support in the implementation of the activities of the new Industrial Policy 2024-2028 and the accompanying Action Plan for 2024 and one of the mechanisms of support to the industry sector in accordance with the concept and priorities of the Smart Specialization Strategy and the Energy Development Strategy. The program is the result of interdepartmental cooperation and continuity of coordination of sectoral policies of the Ministry of Economic Development, the Ministry of Education, Science and Innovation and the Ministry of Energy. As with the pilot Program that started in 2023, the implementation of the Program will be carried out by the Innovation Fund of Montenegro in cooperation with the competent ministries in accordance with the Agreement on Interdepartmental Cooperation in the Implementation of the Program.
The program is a continuity and upgrade of the implemented activities based on the implementation of the 2023 Program, which supported 7 projects of companies from the manufacturing industry in the amount of €1.28 million, which introduces new technologies, digital devices and smart software solutions, energy consumption monitoring systems and enables new employment.
The financial framework for the implementation of the Program for Incentivizing Innovation for the purpose of Energy Efficiency in Industry for 2024 is €2.3 million.
Through the model of non-refundable financial support, which is awarded in the amount of €50,000 to €200,000 for the purchase of production equipment, the introduction of smart/digital solutions, standards for energy management and employment, eligible activities and costs will be financed up to 80% of the total value of the project.
With a significant amount of grants in the maximum amount of up to €200,000, micro, small and medium-sized enterprises from the manufacturing sector will be able to achieve positive effects on business with an additional, minimum investment of 20% of their own participation.
”Special emphasis is placed on the expected positive effects for business entities in the manufacturing industry in the field of improvement of their production processes and technologies, diversification and development of new innovative products, reduction of production costs and energy savings. In addition, the Program provides the preparation of feasibility studies and expert support for the procurement of equipment and the implementation of the project, and an additional positive contribution is made to new employment, because the grants can be used to finance salaries for two newly employed persons, as well as training for current employees”, said Deputy Prime Minister and Minister of Economic Development Nik Gjeloshaj.
After today’s adoption by the Government of Montenegro, further operational steps will follow in accordance with the established timeframe and the announcement of the Public Call for the implementation of the Program by the Innovation Fund.
All information related to the manner of application and participation in the Program will be communicated to the interested public in a timely manner through various information channels in the following days.
Also, through the Info Days, which will be organized in Montenegrin municipalities, all interested business entities will be able to get acquainted with the Program.
It is expected that this incentive model will be followed by adequate interest from the economy so that all interested entities from the manufacturing industry sector through this mechanism can successfully implement the necessary investments in modernization, innovation and energy efficiency of business processes and contribute to the diversification of production activities and increase the competitiveness of our industry.