BAKU, Azerbaijan, September 24. Over the past six years, more than €167 million has been invested in implementing the first Smart Specialization Strategy (S3 2019–2024), and the development of the second strategy is now underway, aiming to continue strengthening innovation and research activities in Montenegro, Trend reports.
This was announced today at the official launch of the Entrepreneurial Discovery Process (EDP), which is one of the key stages in drafting the new strategy.
The Smart Specialization Strategy is the overarching strategic document that identifies areas with the highest potential for investment in research and innovation. The second such strategy is now being developed, and the preliminary key areas identified include: energy and sustainable environment; innovative and sustainable tourism; sustainable agriculture and food value chains; information and communication technologies; and construction. These areas will be further refined in the upcoming consultation phase—the Entrepreneurial Discovery Process (EDP).
Prime Minister Milojko Spajić stated: “There are many examples proving that Montenegro has the knowledge, talent, and courage to stand shoulder to shoulder with much larger economies. The Smart Specialization Strategy has allowed us to launch the Innovation Fund. We have also strengthened infrastructure: the Science and Technology Park in Podgorica and Tehnopolis in Nikšić today bring together more than 150 companies and teams. Through tax incentives, over four years, the state has provided €7 million in support to investors, and this alone in 2024 resulted in €1 million of direct foreign investment in innovative companies in Montenegro.”
Ekaterina Paniklova, Resident Representative of the United Nations Development Programme (UNDP) in Montenegro, said the strategy is a particularly important document. “What makes this process unique is how it connects the government, the private sector, the academic community, and civil society in a single, inclusive dialogue, ensuring that the strategy’s priorities reflect Montenegro’s real potential and deliver tangible results. At the heart of the process is entrepreneurial discovery—a space where ideas become opportunities for investment and partnerships. UNDP, together with the United Nations Economic Commission for Europe (UNECE), is proud to support this process through the Innovations for Development and Economic Advancement in Montenegro (IDEA-ME) project, funded by the European Union through the Accelerated Development Fund, strengthening capacities for developing an innovation system in line with European standards and global sustainable development goals.”
Minister Anđela Jakšić–Stojanović stated in a video message: “Montenegro is entering a new development cycle, in which we want to recognize our greatest potentials and transform them into clear directions for future growth. That is why we are launching the consultation process of Entrepreneurial Discovery, which will allow us to identify key areas for development over the next six years. Based on previous analyses, five key areas have been identified: energy and sustainable environment; innovative and sustainable tourism; sustainable agriculture and food value chains; information and communication technologies; and construction. Final priority areas will be determined after the upcoming EDP consultation process.”
Miguel Landabaso Alvarez, representative of the European Commission’s Joint Research Centre, emphasized that the EDP process is “a fundamental part of a high-quality Smart Specialization Strategy for Montenegro” and expressed satisfaction with the collaboration with Montenegro during the strategy’s development. He noted that this process is important for Montenegro’s European Union accession. “The EDP process essentially concerns what the public sector can generate from ideas and how to invest in collaboration with the private sector, universities, and others to accelerate modernization and economic diversification.”
Ivana Janković-Mijanović, Acting Director of the Directorate at the Ministry of Education, Science, and Innovation and National S3 Coordinator, explained the methodology for developing the new strategy and the EDP process. She added: “Multi-million investments in the first Smart Specialization Strategy and efforts in preparing the second strategy clearly demonstrate our commitment to this important process. Smart specialization means investing in what makes us competitive and recognizable. It is the path to a modern Montenegro, and we are fully committed to following it.”
During the event, it was also highlighted that Montenegro has been recognized since 2019 as a pioneer in the Western Balkans and beyond, being the first country outside the European Union to adopt its first Smart Specialization Strategy (S3) for the period 2019–2024. By adopting the second strategy, now in development, Montenegro continues to confirm its innovation potential and close cooperation with the EU.
The Entrepreneurial Discovery Process (EDP), launched today as part of the development of the new S3 strategy for 2026–2031, is the central methodological backbone of the strategy. Its goal is to identify S3 priority areas based on participatory and dynamic dialogue between the government, the private sector, the academic community, and civil society.
