The establishment of the first venture capital fund in Montenegro will significantly improve the state’s position in the investment, scientific research and innovation sector, by placing it on the regional, European and world map, it was assessed at the central conference of the Balkan Tech Summit (BTS).
Digital Den announced that the central conference of the Balkan Tech Summit was held on the museum plateau in the old town of Ulcinj.
The first part of the BTS event began on Monday with the arrival of over 30 American investors, leaders in the fields of innovation and entrepreneurship, and pioneers of the technology and investment sector from some of the most important American ecosystems.
This four-day event, held in Podgorica, Cetinje, Kotor and Ulcinj, was designed as a tour during which guests from the United States of America (USA) learned about the innovation and investment potential of Montenegro and the Balkans.
“The conference was held to formalize cooperation on the establishment of the first completely private venture capital fund that will invest in innovations in the Balkans – the Balkan Tech Fund (BTF) and enabled networking and the exchange of experiences and knowledge with a significant number of investors and experts from the USA and the Balkans”, the statement added.
In addition to them, the BTF also gathered representatives of the Montenegrin Government, regional and local business, IT and start-up communities in the same place, in order to promote the potential of Balkan start-ups, local companies and entrepreneurs, decision-makers, officials and other success stories from Montenegro and the region.
At the central part of the conference, a panel was held that discussed how venture capital can support development opportunities and the economy of Montenegro and the region, and which brought together distinguished speakers from different parts of the world.
The Fly by Pitch session was held over two days, and featured eight start-ups from the Digital Den hub, such as Flourish, Final Find, Solutaria, Happy Place, 3Hills and Solar Data Collector.
The second panel discussed the challenges of attracting venture capital investments in the Western Balkans, while the third panel explored the role of decision makers in creating an environment conducive to attracting investors.
BTS was organized in cooperation with the European Bank for Reconstruction and Development (EBRD), Hyatt Regency Kotor Bay Resort, Ramada Hotel and Ulcinj Municipality Assembly.
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