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KOSOVO - Innovative businesses to get a boost with new grant scheme
An innovation grant scheme was announced on Monday, 7 October 2024 by the Ministry of Industry, Entrepreneurship, and Trade (MIET) of Kosovo, co-funded by the Grand Duchy of Luxembourg, aimed at supporting start-ups and established micro, small, and medium-sized enterprises (MSMEs).
The scheme, designed to be a game-changer, will empower businesses to develop and implement innovative ideas and projects, thereby driving Kosovo's economic growth. By fostering innovation, MSMEs are poised to create new jobs and boost exports, strengthen innovation capabilities, increase investments, and enhance the development of new or improved products, production methods, or services.
Press conference - launch of the innovation grant scheme
At the launch of the grant scheme, Minister of MIET, Rozeta HAJDARI, said: “Through this financial support scheme, the government aims to foster the private sector in the development of innovative ideas that will directly impact economic, social and environmental development, a key objective of Kosovo’s 2030 industrial policy.” Rozeta HAJDARI emphasised, underlining that all industrial sectors, including producing, manufacturing, and services, are invited to apply.
The innovation grant scheme is co-funded by the Government of Kosovo and the Government of Luxembourg with EUR 1.9 million.
H.E. Eric DIETZ, Chagé d’Affaires e.p., Embassy of Luxembourg in Pristina: “We are happy to launch the scheme today, which aims to stimulate innovation, an essential driver for economic development and, more particularly, sustainable economic growth. The ICT, creative industry, circular economy, and environment protection, to name just a few, are crucial to respond to the new challenges and improving the population's wellbeing.”
This is a unique opportunity for businesses to advance their innovation efforts and contribute to Kosovo’s economic development. The Innovation Grant Scheme allows businesses to elevate their operations and make a tangible impact.
Grant scheme guidelines and how to apply
Start-ups registered between January 1, 2019, and February 29, 2024, are eligible to apply for this grant. Start-ups can receive up to 80% of total project costs, with a maximum grant of EUR 15,000. They are required to contribute at least 20% to the project, with no maximum limit on their own investment, which must be completed within 12 months. Successful implementation may qualify start-ups for additional incentives.
The grant is also available to MSMEs registered before December 31, 2018. These businesses can receive up to 50% of total project costs, capped at EUR 40,000, and must contribute a minimum of 50% towards the project with no maximum limit on their investment. The implementation period is also set at 12 months. Additionally, MSMEs may benefit from participation in trade fairs through other calls launched by KIESA.
The deadline for submitting applications is October 25, 2024. The application manual for the grant scheme is published here.
The Sustainable and inclusive growth in Kosovo project - funded by the Grand-Duchy of Luxembourg and implemented by LuxDev, the Luxembourg Development Cooperation Agency - led the development process of the grant scheme, working closely with MIET’s Division for Innovation and Technology and the Kosovo Investment and Enterprise Support Agency. The project aims to catalyse sustainable economic growth by fostering innovation, inclusivity, and social development in a greener Kosovo. Specifically, the project endeavors to stimulate innovation and both local and foreign investments within a digitally secure and transparent ecosystem.
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