Last year, Montenegro’s ICT sector experienced a decline after years of growth, but strengthening this sector remains crucial due to its significant potential and role in digital transformation, according to a presentation at the Chamber of Economy (PKCG).
Branimir Bukilić, Chairman of the ICT Association Committee at PKCG, emphasized the need to improve the business environment, competitiveness, and conditions for innovators to accelerate the sector’s development. He highlighted the sector’s strong export potential and its importance as a strategic pillar for economic diversification and technological progress.
Maja Laušević Odalović, Executive Director of the ICT Cortex cluster, stressed the importance of collaboration among stakeholders to further develop the domestic ICT sector. She noted that although ICT is not yet officially recognized as a strategic sector, it shows great vitality and resilience, contributing significantly to the overall economic transformation. ICT Cortex is actively involved in shaping the new Smart Specialization Strategy to position ICT as both a horizontal and vertical priority in national innovation policies.
The presentation of last year’s financial results by Nada Rakočević (PKCG) and Ratko Nikolić (BI Consulting) revealed a decrease in key indicators such as the number of companies, employees, revenue, and profit. However, the sector remains a key driver of digital transformation and shows resilience as it enters a more mature phase requiring tailored policies to boost competitiveness and sustainable growth. Rakočević emphasized stronger integration of ICT with traditional industries to fully utilize technology for modernizing business processes and opening new markets.
Nikolić added that despite a slight drop in net profit, the sector still demonstrates high investment efficiency and remains the fastest-growing branch of the economy, making it attractive to both domestic and foreign investors.
The event also included presentations on key support programs for innovation development. Aleksandra Mugoša from the Ministry of Education, Science and Innovation introduced a funding competition for participation in EUREKA projects with a total fund of €200,000 aimed at fostering international cooperation in innovation. Bojana Femić Radosavović from the Montenegrin Innovation Fund presented national support for participation in the EU’s Horizon Europe program, including co-financing of up to €20,000 per application.
Matija Dautović from the European Bank for Reconstruction and Development (EBRD) highlighted technical and financial support for SMEs in digitalization and innovation, encouraging companies to apply for business transformation projects.
Tanja Radusinović from PKCG presented the EmBRACE project, funded through the Interreg IPA cross-border cooperation program, offering over €8.7 million in grants for micro and small businesses across Croatia, Bosnia and Herzegovina, and Montenegro to support cross-border innovation collaborations.
Laušević Odalović concluded by emphasizing the importance of private-public sector cooperation to strengthen Montenegro’s innovation ecosystem and urged participants to take advantage of available funding and opportunities.
The event ended with an open discussion underscoring the need for coordinated institutional support, better awareness of funding programs, and stronger involvement of local companies in international innovation networks.
