Sarajevo/Podgorica, (Fena) – The Regional Cooperation Council (RCC) collaborated with the European Institute of Innovation and Technology (EIT) and the European Enterprise Network (EEN) to unveil a joint study titled “The Startup Ecosystem of the Western Balkans at a Crossroads” during the ministerial meeting of the Western Balkans Platform for Research and Innovation Management.
This meeting was organized by the European Commission, with Poland presiding over the Council of the European Union, alongside the Government of Montenegro.
The study, marking the first extensive regional examination of the startup ecosystem in the Western Balkans, was introduced by RCC Secretary General Amer Kapetanović and Signe Ratso, Deputy Director General of the European Commission’s Directorate-General for Research and Innovation.
The findings indicate that approximately 150,000 individuals are employed in the region’s information and communication technology sector, contributing 2 percent to the GDP. However, startups secured only 29.5 million euros in funding last year, considerably lower than their counterparts in neighboring EU countries. The main obstacles remain limited private investment, inconsistent regulations, and brain drain.
Kapetanović noted the region’s entrepreneurial potential, emphasizing the need for structured support to foster sustainable growth.
– Therefore, we have developed the “Regional Innovations for Startup Excellence” (RISE) program aimed at connecting innovative entrepreneurs with seasoned mentors, offering targeted training to bridge the skills gap, and providing modest financial resources to aid teams in navigating the crucial early stages of development – he stated.
He highlighted that the RISE Program is designed to support inexperienced innovative teams and promising startups in evolving from concept to market-ready products.
Signe Ratso pointed out that the report leverages EIT’s expertise in innovation and entrepreneurship, the RCC’s role in enhancing regional integration, and EEN’s extensive support framework for small and medium-sized enterprises in the area.
– Our collective efforts are focused on strengthening the innovation ecosystem, minimizing disparities, and ensuring local innovators can fully benefit from the European single market for innovation – she added. (24.10.)
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