Amount of funding

A single Voucher can cover a maximum of 80% of the total costs of a service provided by a research and development institution up to an amount of EUR 8,000, including value added tax (VAT), where both conditions apply simultaneously. The Beneficiary of the Voucher is obliged to co-finance the remaining amount of the total costs of the service – at least 20% of the total amount of the invoice that includes VAT.

The Applicant may receive a maximum of one Voucher under the Public Call.

Eligibility criteria

For the Applicant:

• Micro, small and medium enterprises incorporated as legal entities as defined by the applicable Law on Business Organizations, as well as by the Law on Accounting, registered in the Central Register of Business Entities of Montenegro (CRBE);
• Country of incorporation: Montenegro;
• In majority private ownership, where the ownership share of a large company may not exceed 10%;

For the Service Provider:

• Research and development institutions entered in the Register of Licensed Research and Development Institutions in the Ministry of Education, Science, Culture and Sports;
• The list is available at: https://www.gov.me/dokumenta/aac3fc17-ee43-4f5d-a7a8-db0afae1b2be=

Eligible services:

• Development of new or improvement of existing products (in terms of functions and quality), processes or services;
• Proof of concept;
• Feasibility study;
• Production of laboratory prototype;
• Development of a demonstration prototype;
• Various forms of testing (in the laboratory, in the pilot plant);
• Technology validation;
• Validation of new or improved products, processes or services;
• Development and introduction of special software for a product or process (within product development).

Voucher validity

The awarded Voucher must be used by the Beneficiary within a period of up to six (6) months from the date of the contract being signed by the Fund and the Beneficiary.

How to apply

The application procedure for the Program takes place through the Portal of the Innovation Fund

You can download the forms on the Documentation page

Innovation Vouchers will be approved in chronological order of received applications, starting from the date of the Public Call, and concluding with the moment of consumption of the funds allocated under the Public Call. The Voucher approval process takes place within the Fund. The Fund shall notify each Applicant of the outcome, within seven (7) working days from the date of submission of the Application.

Funding through the Innovation Vouchers Program is harmonized with the Smart Specialization Strategy of Montenegro Smart Specialisation Strategy of Montenegro 2019-2024 (www.gov.me) which focuses on the following strategic priorities:

• Sustainable agriculture and food value chain;
• Energy and sustainable environment;
• Sustainable and health tourism; and
• Information and communication technologies as a horizontal priority sector.

At least 70% of the available budget for this Public Call will be allocated to applications belonging the above areas of priority, while a maximum of 30% will be allocated to all other areas.