Representatives from 19 companies in Montenegro signed agreements in Mostar to implement projects that received EU grant approval through the inaugural call for proposals of the EmBRACE initiative.

The signing ceremony, organized by the project’s leading organization, the Croatian Agency for Small Business (HAMAG BICRO), marked the official start of 24 collaborative projects proposed by firms from Montenegro, Croatia, and Bosnia and Herzegovina.

The Chamber of Commerce of Montenegro (PKCG) announced that a total of EUR 1.1 million has been allocated to support local companies, benefiting firms such as Remid Vis, MAS CODE, Trony Network, Ineska, Montenegro Adventures, Alicorn, Finagate, Statpro, Partner media, MoDrone, Meditera, EVC Montenegro, Upbeat Hub, ZIP, Brain Code, Enterijeri – SNV, Sinibia, Vizin Travel, and Infrastruktura.

“This initiative promotes collaboration among micro and small enterprises in the Croatia-Bosnia and Herzegovina-Montenegro border region as part of the Interreg VI-A IPA Programme Croatia – Bosnia and Herzegovina – Montenegro 2021 – 2027,” stated the announcement.

A Fund for Small Projects has been established under the Interreg VI-A program to assist micro and small enterprises, thereby fostering growth within this segment of the economy and facilitating their transition towards digital transformation.

This call initially allocated three million EUR to the economy; however, due to the overwhelming number of high-quality applications, HAMAG-BICRO increased the funding to 4.1 million EUR.

The ceremony, which was led by Vjeran Vrbovec, President of the Board of HAMAG BICRO, saw attendance from Montenegro’s Minister of European Affairs, Maida Gorčević; the Croatian Minister of Rural Development and European Funds, Šime Erlić; the Director of the Directorate for European Integration of Bosnia and Herzegovina, Elvira Habota; and the Mayor of Mostar, Mario Kordić. They congratulated the successful companies and highlighted the significance of inter-company cooperation and the development of skills necessary to access European funding that can enhance business operations and bolster overall competitiveness.

The signing event in Mostar also included Tanja Radusinović, Director of the Projects Sector from Montenegro’s Ministry of Economy and Trade.

The grant recipients are excitedly initiating their planned projects.

“Through this initiative, Montenegrin companies have had the opportunity to directly apply for European funding for the first time. They believe that the knowledge gained from this application process will be invaluable for future opportunities related to structural funds,” the statement from the Chamber of Commerce and Industry of Montenegro indicated.

Later this year, a second call for the EmBRACE project will open, which is expected to benefit additional companies.

Borislavka Golović Kažić from Ineska emphasized that her project focuses on developing a digital language learning solution and enhancing micro-enterprises through specialized language services. She considers the EmBRACE initiative a crucial opportunity for advancing micro and small enterprises and fostering connections among regional entrepreneurs while enhancing knowledge and skills.

She encourages Montenegrin companies to capitalize on upcoming calls and similar opportunities that can facilitate corporate growth and improvement.

Vojin Papović from Enterijeri SNV, who proposed a sustainable check-in system for hotels, views the EmBRACE initiative as a significant opportunity to connect program countries with enterprises in complementary sectors, such as IT.

Slobodan Stanić, director of Remid Vis, another grant recipient under the EmBRACE project, anticipates that the funds allocated for his innovative ecological interior design project will enable substantial advancement in the EU market, which he intends to pursue alongside partner organizations.

He expressed hope that the collaborations established through this project would lead to continued partnerships in various forms.

A promotional event featuring the awarded Montenegrin companies and their innovative ideas will be held on February 11th at the Chamber of Commerce and Industry of Montenegro.

EmBRACE (Enhancing MSEs sustainable growth and competitiveness) is a pilot project aimed at funding collaboration between micro and small enterprises in the Croatia-Bosnia and Herzegovina-Montenegro border region as part of the Interreg VI-A IPA Programme for the years 2021-2027, enhancing competitiveness in this area.

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