Montenegro Launches 2024 Innovation Program to Boost Industrial Energy Efficiency
Date: 27.09.2024.
Long story short:
The Government of Montenegro has introduced the Innovation Promotion Program for 2024 to enhance energy efficiency in the industrial sector. This program aligns with Montenegro’s strategic goals for sustainable development and aims to support small and medium enterprises in adopting advanced energy-saving technologies.
Main Content:
The Ministry of Economic Development has announced that Montenegro’s Innovation Promotion Program for 2024, focused on improving energy efficiency in the industrial sector, has been approved. This initiative supports the nation’s Industrial Policy for 2024-2028 and Action Plan for 2024, and aligns with the country’s Smart Specialization Strategy and Energy Development Strategy. The program is a collaborative effort among multiple government ministries, including those responsible for economic development, education, science, innovation, and energy. Following the success of a 2023 pilot program that funded seven projects with €1.28 million, the 2024 program will provide €2.3 million in total funding. Grants will range from €50,000 to €200,000, covering up to 80% of eligible costs. Projects must involve a minimum 20% co-investment from participants and focus on innovative technologies, digital solutions, and energy monitoring systems. Each funded project is also expected to generate at least two new jobs.
The program targets micro, small, and medium-sized enterprises in the manufacturing sector, offering non-repayable grants for projects such as purchasing energy-efficient equipment, implementing smart solutions, and upgrading energy management standards. Additionally, the program will support feasibility studies, procurement aid, and job creation. A public call for applications and informational sessions across Montenegro will soon be organized to inform and prepare potential applicants.
Impact on Industry:
This program is expected to enhance Montenegro’s industrial energy efficiency and accelerate the adoption of innovative energy-saving technologies among small and medium-sized enterprises. By reducing energy consumption and promoting advanced energy management, the initiative supports Montenegro’s transition to a more sustainable economy. It also strengthens the competitiveness of local industries and demonstrates the government’s commitment to environmentally conscious economic policies.
Conclusion:
The 2024 Innovation Program represents a strategic effort by Montenegro to improve energy efficiency in the industrial sector. With substantial grant support and a focus on advanced technologies, the program is set to boost the country’s energy sustainability and create new economic opportunities.
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