WB6 IIP
Western Balkans Six
Investment Incentives Platform
The Western Balkans Six Investment Incentive Platform is the first of its kind in the region, providing detailed information on available incentives in each of the WB6. It is one of the key measures under the Regional Investment Area, which is part of the Common Regional Market Action Plan 2021-2024.
Developed with input from Investment Promotion Agencies (IPAs) across the region, the platform includes both financial and non-financial incentives, categorized by type, sector, and target audience.
It provides comprehensive information for investors looking to invest in the WB6. As an evolving resource, the platform will be updated every six months to ensure it remains current and relevant.
Fostering innovation in the function of energy efficiency in the industry (Innovation Fund)
- Economy name
- Montenegro
- ID
- M54
- Incentive name
- Fostering innovation in the function of energy efficiency in the industry (Innovation Fund)
- Brief description
-
The program for encouraging innovation in the function of energy efficiency in industry was initiated and launched
in 2023 within the framework of interdepartmental cooperation of three ministries: The Ministry of Education, Science and Innovation, Ministry of Economic Development and Ministry of Energy and Mining. The subject of the Public Call is the award of grants for encouraging innovation in the function of energy efficiency in the micro, small and medium-sized enterprises in the manufacturing industry-sector C, in accordance with the definition in Annex 1. GBER Regulation, to encourage the introduction of innovative solutions and new technologies that will lead to improved energy efficiency and increased use of available renewable energy sources by companies, which will contribute to the further development of the green economy. This call is subject to de minimis state aid rules
- Legal reference name
- "LAW ON INNOVATION ACTIVITIES" (Official Gazette of Montenegro, 82/20)
- Legal reference
law section / article -
Articles 37-39 the Innovation Fund of Montenegro (hereinafter: the
Fund) with a view to efficient implementation of innovation policy, and securing and executing
the funds to encourage innovation activities.
The Fund shall be established as a limited liability company.
Activities of the Fund
Article 38
The activities of the Fund shall be to:
- Implement innovation policy by providing and channelling the funds from national,
international and other sources towards the development of innovative entrepreneurship
and boost in cooperation between the scientific and the business sector;
- Implement projects and programmes in the Smart Specialisation Strategy domains, in
accordance with the decisions of the Council;
- Define support instruments and ways of using the Fund’s resources;
- Promote and attract investments in innovative economy;
13
- Exercise cooperation with international institutions and organisations, state
administration bodies, or local self-government units, financial institutions and entities in
the field of science, innovation, education and economy, for needs of financing
innovation activity and implementing innovation policy;
- Encourage technology transfer and research, development and innovations in private
and public sector;
- Encourage business cooperation between companies of Montenegro and companies from
abroad through activities of research, development and innovation, technology transfer
and commercialisation of research results;
- Encourage public-private investments that facilitate the establishment of venture capital
funds for the purpose of innovative entrepreneurship development;
- Participate in international projects and programmes intended for research, development
and innovation;
- Provide technical and advisory assistance to government bodies within the
programmes of national, international and interregional cooperation, aimed at
development of innovative entrepreneurship and technology transfer;
- Supervise and monitor the implementation of programmes and projects within the field of
work of the Fund;
- Perform other tasks in accordance with the present Law, the act of incorporation and the
articles of association of the Fund.
The Fund shall perform the activities referred to in paragraph 1 of this Article in the
manner defined by the articles of association and general acts of the Fund.
Providing the means for activities of the Fund
Article 39
The Fund shall receive the means for its activities from:
- The budget of Montenegro;
- National and international programmes, projects and funds;
- Revenues from donations, legacies and sponsorships;
- Sale of shares or stocks or from the profits of companies in which the Fund has shares
or stocks;
- Revenues of companies from projects financed by the Fund; and
- Other sources, in accordance with the law.
The funds referred to in paragraph 1 indent 1 of this Article shall be provided on the
basis of the Fund’s annual work programme.
- Incentive group
- Financial
- Incentive category
- Grant
- Economy-wide/Sector-specific
- Sector-specific
- Sector (Simplified)
- Manufacturing
- Sector (NACE)
- C MANUFACTURING
- Size of firm that can use incentive
- All sizes of firms
- Level at which incentive is available
- Economy-wide
- Ownership of firm that can use incentive
- Domestic
- Incentive location
- General
- Main objective of the incentive
- Green transition
- In case of grant, share of grant in investment (in %)
- Contact Info
- Address: Bld. "Mihaila Lalića" 15, 81000 Podgorica
- Weblink to Incentive information in English
- Click to open
- Weblink to Incentive information in local language
- Click to open
- Eligibility criteria
description -
MSMEs whose main activity is registered in the manufacturing sector (sector C, except for activities indicated not to be covered) [1] in the Central Register of Business Entities no later than 31 December 2021, in accordance with the Law on Companies ("Official Gazette of Montenegro", No. 065/20, 146/21), the Decree on closer criteria, conditions and manner of granting state aid ("Official Gazette of Montenegro”, no. 027/10, 034/11, 016/14) and which:
- They operate 100% privately owned and have their headquarters on the territory of Montenegro;
- Have a positive financial statement (balance of success) for the previous financial year;
- Regularly perform the obligations to pay taxes and contributions on personal income, corporate income tax of legal entities and value added tax, i.e. regularly settle rescheduled tax liabilities, in accordance with the Law on Reprogramming of Tax Receivables ("Official Gazette of Montenegro", No. 145/21), the Decree on conditions for delaying the collection of tax and non-tax receivables ("Official Gazette of Montenegro", No. 57/18), Decree on conditions for postponement of collection of overdue tax and non-tax receivables ("Official Gazette of Montenegro", No. 027/20, 050/20) and Decree on conditions for postponement of collection of overdue tax and non-tax receivables ("Official Gazette of Montenegro", No. 015/21), ending with the previous month in relation to the month of submission of the application, i.e. in accordance with the applicable tax regulations;
- In the event that the company and the founders of the company have a share of more than 20% in the ownership structure of another company (related persons within the meaning of the Law on Companies ("Official Gazette of Montenegro", No. 065/20 and 146/21 )), both companies may not apply;
- That there are no data on the conviction of a legal entity in the criminal record and that the founder and /or responsible person in the legal entity is not in the criminal record for misdemeanors in the field of economic crime; and
-They are not obliged to recover illegally received state aid.
- Eligibility criteria
weblink - Click to open
- Awarding Authority (Name)
- Fund for Innovation of Montenegro
- Application procedure + Weblink (where available)
- Online
- Implementing Authority (Name)
- Fund for Innovation of Montenegro