Podgorica, (MINA-BUSINESS) – The Innovation Fund of Montenegro has launched a public call for the Innovative Concept Verification Programme, worth €350,000.

“The programme is designed to support early-stage research innovations, securing pre-commercial capital for the technical and commercial verification of innovative concepts, and strengthening the capacity of the private sector and scientific research institutions for research, development, and innovation,” stated a press release issued by the Innovation Fund.

The total value of the call is €350,000, with individual grants ranging from €20,000 to €40,000.

The public call and the necessary application documentation are available on the Fund’s website www.fondzainovacije.me.

“Eligible applicants under this Programme are companies classified as micro, small, and medium-sized enterprises, as well as scientific research organizations,” the call stated.

Director of the Innovation Fund Bojana Femic Radosavovic has underlined the importance of this programme.

“Innovations are key to economic development and competitiveness. This programme offers funding for an early stage in developing ideas, which should show whether it is feasible to invest in further development of the idea and whether it has commercial potential,” said Femic Radosavovic.

The call is open until 30 September at 3 p.m. and applications are to be submitted by through the Fund’s website www.programifonda.me.